Investment in wave power could start a ‘green revolution’ which in turn would lead the UK out of recession, industry sources say.

The UK has half of Europe’s tidal energy resources and 35 per cent of wave resources says Oliver Wragg, wave and tidal development manager at the British Wind Energy Association.

Properly harnessed it could provide up to a fifth of our electricity needs by 2050. Such analysis does not include the Severn Barrage plan which alone could produce 5 per cent of the UK requirement. While the Pentland Firth between Scotland and the Orkneys has been described as the ‘Saudi Arabia of marine energy’ by Scotland’s first minister Alex Salmond.

It has ben estimated  that an input of £800 million to 2020 could produce revenues of £4.2 billion a year by 2050.