Market opportunity
The potential size of the global marine renewables market, as indicated in The Carbon Trust MEC report 2006, is between 2000 and 4000 TWh/ year. Looking at the UK potential alone this was estimated as being of the order of 50TWh/ year. This in itself would equate to about 1/7th of the current UK annual energy consumption. The same report also indicated that the global market for renewable marine energy has a potential worth of between £60 and £190 billion/ year. This is the market that AlbaTERN intends to target.
Source: Scottish Exec report:
HARNESSING SCOTLAND'S MARINE ENERGY POTENTIAL. 2004
