Wave Energy

Britain could earn $22.28 billion from marine energy sector by 2050

Source: EcoSeed

By 2050, a British government think tank estimated that local wave and tidal industry could seize up to £76 billion ($112.9 billion) of the market, bringing in £15 billion earnings ($22.28 billion) and 68,000 jobs to the economy.

The analysis, recently released by Carbon Trust, found that up to 240 gigawatts of wave and tidal energy could be deployed globally by 2050, with deployments ramping up in the next decade for a global market worth up to £460 billion.

Three-fourths of the total estimated capacity is forecasted to come from wave and the remainder from tidal.

Wave Energy
Wave Energy

Wave energy is derived from the movement of ocean and sea surface waves transformed into electricity using conversion devices. Tidal stream energy is extracted from the movement of the flow of water due to the movement of the tides and is similarly converted into useful energies.

In total, Britain’s potential market is worth three-fourths of the world’s potential global market value. As Carbon Trust’s director of innovations Benj Sykes said, “Marine energy could be a major ‘made in Britain’ success.”

For the entire story, please visit EcoSeed.org

Written by greenlivingguy

The Green Living Guy, Seth Leitman is a green living expert, celebrity and Editor of the McGraw-Hill, TAB Green Guru Guides. Seth is also an Author, Radio Host, Reporter, Writer and a Environmental Consultant on green living. The Green Living Guy writes about green living, green lighting, the green guru guides and more. Seth's books range from: # Build Your Own Electric Vehicle by Bob Brant and Seth Leitman (2nd and 3rd editions) # Build Your Own Plug-in Hybrid Electric Vehicle by Seth Leitman # Build Your Own Electric Motorcycle by Carl Vogel # Green Lighting by Seth Leitman, Brian Clark Howard and Bill Brinsky # Solar Power For Your Home by David Findley # Renewable Energies For Your Home by Russel Gehrke # Do-it-Yourself Home Energy Audits by David Findley # Build Your Own Small Wind Power System by Brian Clark Howard and Kevin Shea # and more green living books to follow.