11/30/2022 0 Comments Tidal power![]() Over time marine technologies have the potential to significantly contribute to our decarbonisation commitments and could support hundreds of green jobs across the country, with projects currently in development in North-West Scotland, North Wales and the Southern coast of England. History has illustrated the effectiveness of the scheme’s design in keeping costs down - between the first allocation round in 2015 and the most recent round in 2019, the price per unit (MWh) of offshore wind fell by around 65%. This will bring the total funding for this allocation round to £285 million per year. Today’s announcement (24 November 2021) will unlock the potential for a thriving UK tidal power sector, with the cash boost supporting marine technologies which could benefit the whole of the UK.Īs part of the fourth allocation round of the Contracts for Difference Scheme due to open next month, the UK government will ensure that £20 million per year will be ringfenced for Tidal Stream projects, giving the marine energy sector a chance to develop their technology and lower their costs in a similar way to the UK’s world-leading offshore wind industry. The UK government will invest £20 million per year in Tidal Stream electricity as part of its flagship renewable energy auction scheme, kickstarting a brand-new chapter for the tidal industry and creating jobs across the UK. today’s investment in tidal energy further demonstrates the UK’s commitment to build a strong, home-grown renewable energy sector to reduce our reliance on volatile fossil fuels.this will strengthen energy security by adding to our diverse, renewable electricity supply and create jobs across the UK. ![]() UK government announces biggest investment in a generation into tidal power, kickstarting a new chapter for the UK’s tidal energy industry. ![]()
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