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Update to this TINA will be considered in our next phase of analysis:

The UK has a large natural resource of marine energy – energy from waves and from tidal streams. Successfully harnessing this energy has the potential to deliver over 10% of the UK’s forecast electricity needs in 2050. However, the cost of energy generated will need to reduce by 50-75% to around £100/MWh by around 2025 if marine energy is to compete with offshore wind and other technologies. This pathway is ambitious but conceivable and only possible with significant innovation. If successful, innovation in marine energy could save the energy system c.£3 - 8bn and help create a UK industry that could contribute an estimated £1 - 4bn to GDP up to 2050. Achieving this value requires continued support in prioritised innovation areas.

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