The Carbon Trust has indicated that the UK can profit from leading the world in the clean tech revolution.

In its new economic analysis, the Carbon Trust has mentioned that by taking a bold new approach to commercialisation, the UK could generate up to £70 billion for the economy and almost 250,000 jobs in offshore wind and wave power alone. Offshore wind and wave can alone provide at least 15% of the total carbon savings required to meet the 2050 targets.

The company has recommended that Britain should make smart investments through greater technology prioritisation and move away from technology neutrality. This new approach means public support will be focused on emerging low carbon technologies.

It stated that by applying this new approach the UK could seize 45% of the global offshore wind market by 2020, delivering £65 billion of net economic value and some 220,000 total jobs by 2050.

“To do this we need a comprehensive package of technology focused support including investment of up to £600 million in R&D, removal of regulatory barriers and new incentive mechanisms to accelerate deployment of offshore wind power around our coasts,” it added.

As part of the ‘Clean Tech Revolution’ campaign, the Carbon Trust will be launching 15 new R&D and technology acceleration projects in 2009, in addition to over 40 projects that are already in place. 

The campaign is also being backed by leading innovators, businesses, investors, scientists and NGOs.