Evaluating the drivers and barriers that either promote or hinder Marine Renewable Energy Investment

The Marine Renewable Energy (MRE) industry in the UK was deemed as significant due to its rich resource potential and the ability to mitigate climate change, from the increasing pressure internationally and from the EU mandate while providing economic incentive through local and export markets. In order for commercialization of the industry, public funding was seen as a major barrier to investment. This research aims to increase the knowledge of incentives and barriers to future investment by observing perspectives of investors towards the MRE industry. Comprehensive interviews were conducted with stakeholders in the investment environment, namely, investors and device developers. The aim of this thesis recognizes that over time the perspectives of investors have not been consistent. The participants in this research have indicated mixed reviews about the industry but agreed that they would not be interested in investing in early stage device development. This lack of interest can be attributed to the ever changing policy landscape, the lack of technological advancement in the industry and high initial investment with uncertain returns on investment. All these factors combined provide a significant challenge to the future of marine renewable energy commercialization