The UK is a clear leader when it comes to developing marine power, according to analyst Frost & Sullivan.
Half of Europe's wave power capacity is within the UK seas and the country leads in terms of activity and support for the industry, it has been claimed.
The analyst said that marine power had the potential of meeting 20 per cent of the UK's energy needs.
Frost & Sullivan research analyst Gouri Nambudripad. "Countries in Europe that are rich in marine resources, both wave and tidal, such as the United Kingdom, Ireland and Portugal are investing in and supporting this technology."
E.ON announced in March 2007 the development of an eight megawatt tidal stream project off the west coast of the UK.
It will be one of the largest commercial scale tidal stream energy plants in the world.
According to the Crown Estate, the offshore energy sector, including wind power, has an annual turnover of £32 million.
