It is about time the government concentrated more on developing wave and tidal power in the rush to meet renewable energy targets, says a new report.

The call for urgent action to develop Britains potential for wind and wave power comes from the UK’s largest renewable trade association, the British Wind Energy Association (BWEA)

Releasing a study examining exactly what kind of support people working in the area need in order to develop this vast source of potential renewable energy, the BWEA recommends the UK needs to support wind power by tidal energy schemes.

Over forty-five companies, organisations and individuals from the city, the utility sector, the wave and tidal industry and from within government were interviewed over a two month period.

The report recommends a series of actions that have been presented to Government over the past few weeks by the BWEA.

Key conclusions are:

• The UK has a fantastic opportunity to become a world leader in the development and deployment of wave and tidal power. Most of the companies involved in the sector, including those not currently based in the UK, see the UK as the place to develop their businesses
• Government financial support should focus on rewarding success and offer the tax payer best value for money
• A £75 million Marine Performance Fund is proposed for the first 50 MW of wave and tidal projects and developers would obtain premium payments for a suggested five years following production of electricity
• Given the right support framework, private capital will continue to be attracted to the sector removing the need for the government to 'pick winners' through allocation of capital grants to companies in advance of deployment
• Government support in the form of capital grants for grid connection, decommissioning and consenting work should also be made available at a potential cost of some £40 million
• Continuation of capital grants at the research and development stage is also needed to bring through the next generation of technologies