Realising the Economic Potential of Marine Energy

That the Parliament recognises the significant economic opportunity that it considers Scotland's marine energy sector presents, particularly for the coastal and island communities of the Highlands and Islands; notes the findings of the University of Edinburgh report, Future Economic Potential of Tidal Stream and Wave Energy in Scotland, which estimates that marine energy could contribute more than £8 billion to Scotland’s economy and support over 15,000 high-value jobs by 2050; further notes the report's conclusion that sustained technology innovation through public and private funding will be required if Scotland is to realise this opportunity, alongside the development of supply chains and supporting infrastructure; recognises that the Programme for Government places innovation at the heart of economic growth, the energy transition and public service reform, building on approaches that are already working; notes concerns about an absence of clear strategic leadership for the marine energy sector within the Scottish Government in recent years; further notes the withdrawal of funding from Wave Energy Scotland, whose technology development programmes have attracted international recognition and helped establish Scotland as a global leader in technology innovation; considers that the resulting loss of expertise, experience and institutional knowledge developed through Wave Energy Scotland could impede the development and commercialisation of Scotland's marine energy technologies, and result in missed opportunities to apply these capabilities in support of other offshore renewable energy sectors; notes the belief that the Scottish Government should provide a clear statement of policy intent for marine energy, and acknowledges the view that there is an urgent need to retain and build upon Wave Energy Scotland’s established expertise and capability in delivering effective publicly funded innovation programmes to provide continuity and maximise the value of previous public investment.