The aim of this campaign is to direct members of the public to a UK Gov petition to ‘Commercialise the UK Tidal Stream Industry with Government Revenue Support’. Previous support (CfD minima) was removed by The Government in 2016. The campaign was launched across social media platforms on 26th September 2019.
This campaign does not specifically ask for reinstatement. It leaves all options open, whether to revert to the original legislation (CfD minima), an innovation CfD (iCfD) or a tax relief system through an Innovation Power Purchase Agreement (IPPA). The end goal is to provide a ‘route to market’ for tidal stream energy and encourage investment in tidal energy projects around the UK.
The campaign is designed to alert the public to the fact that tidal energy is the UK’s least known renewable resource which could contribute to net zero carbon emissions by 2050 as well as create a thriving industry (worldwide, it is forecast that ocean energy could be worth £76 billion by 2050). Tidal energy is by no means a solution by itself, but it alone has the potential to supply a high volume of predictable renewable energy to the UK National Grid. Unlike other renewable energy sources tidal energy is predictable with very strong environmental credentials. The UK holds 50% of the European resource and currently leads the world in both tidal energy research and technology, meaning commercial opportunities are plentiful. We have a number of companies with commercially rated turbines ready to deploy, but without government support investors are reluctant to invest and the UK economy continues to miss out on an incredible opportunity to generate growth, jobs, investment and a commanding global market share. Whilst at the same time reviving many of our long neglected coastal communities and marine industries.
Our wider hope is that this campaign will get the public thinking about the broader picture on renewable energy and to ultimately kickstart renewed investment in marine energy sector.
At a time when there is so much national attention on solar and wind energy, we feel it’s important to draw attention to an additional capability, so that we may build a robust, multifaceted energy system that ensures that UK plc generates the energy to meet our future needs whilst improving our market share and our position as a world leader in renewable technology and innovation.