According to The Carbon Trust, the global market for marine renewables could be worth £340 billion (in 2050), of which the UK’s share could reach £76 billion. It is estimated that UK waters contain around 15% of the world’s economically accessible tidal resource; 29 TWh (terrawatt hours). One TWh is one billion kilowatt hours (units) of electricity.
More than 40 tidal technology developers are active in the UK alone. Globally, there are over 100, and this number is continuing to rise. The Low Carbon Innovation Coordination Group (LCICG) has identified that the UK could secure approximately 15 per cent of the global market for marine energy devices creating £1.4 billion to £4.3 billion to the economy by 2050. To secure this benefit the country needs to continue its investment in research and development in the sector to reduce by more than 50 per cent the costs of the electricity produced.
There is significant demand for test and demonstration facilities globally, as the cost, risk and time associated with developing individual demonstration sites are vast. Currently, the only open sea, grid connected, tidal test facility in the UK is the European Marine Energy Centre based in Orkney, which is designed for single device prototypes. There are currently no grid connected pre-commercial tidal test facilities (capable of handling arrays of devices) in the world.
The UK (and global) industry needs a low risk and cost commercialisation solution. The Isle of Wight is an ideal location to develop a marine energy centre to complement the existing test and support infrastructure available within the UK. With a rich and diverse tidal resource in physically protected waters, the Solent Ocean Energy Centre (SOEC) is suitable for a wide range of tidal technologies and testing parameters. SOEC will offer this and provide an asset that will allow users to achieve the technology readiness level and certifications necessary for the commercialisation and large-scale production of tidal energy. In addition, the Isle of Wight has a rich marine infrastructure and significant manufacturing, composites and engineering capability, and there are extensive synergies with the tidal, wave and offshore wind sectors.
With continuous support from industry, the community and associated public bodies, the Solent has the opportunity to become a global centre of offshore engineering excellence. The development of SOEC will fully embrace this and play a key role in realising the Island’s Eco Island vision.
SOEC’s purpose is threefold:
SOEC will also continue to work collaboratively with existing UK (and global) test centres and support organisations. Collaborative areas of interest include:
Designed to fill a critical gap in the market, demand for SOEC is already significant and is continuing to grow. It is estimated that SOEC will create / safeguard over 600 direct / indirect UK FTE jobs over the project lifetime, and reduce greenhouse gases by as much as 28,000 tonnes per year.
SOEC is being delivered by the Isle of Wight Council with the support of private sector investment.