The marine and offshore renewable energy sectors have an annual estimated turnover of £32 million a year, according to the Crown Estate.
In its report entitled Socio-economic indicators of marine-related activities in the UK economy, the Crown Estate notes that there is an installed capacity of 1,124 megawatts (MW) of renewable energy in the UK's waters.
It arrived at the figure of £32 million assuming a 35 per cent capacity output and a average supply cost of £50 per MWhour.
While political drivers will continue to push forward the development of wind, tidal and wave technologies, the report claims that the uptake of offshore renewables will depend on production costs being competitive with more traditional sources.
It cites an Ernst and Young Report, which showed that costs ranging from £73 to £280 per MWhour for offshore wind, tidal and wave energy was substantially higher than conventional costs.
E.ON Renewables were partners in the Blyth wind farm, the UK's first and Scroby Sands, one of the UK's first commercial offshore schemes.
The company has also started work on a 180MW project at Robin Rigg.
