The Saltire Prize competition guidelines were developed in 2008 following consultation with leading representatives of the marine energy sector and the scientific community.
The whole energy sector is now operating in very different circumstances. The marine renewables industry has taken momentous steps forward since that date, but the path to commercialisation is taking longer and proving more difficult than anyone initially expected.
The Saltire Prize Challenge Committee has been keeping the prize criteria and competitor progress under review and is now considering options for reshaping the prize to better reflect the circumstances of the wave and tidal sectors.
Trade body Scottish Renewables is supporting the Scottish Government with the review and has convened a focus group of industry representatives and other marine energy experts to discuss revised prize options. A report with the conclusions of the group's discussions is expected later in 2016. This will then go to the Saltire Prize Challenge Committee for consideration and approval.
There is increasing recognition that the development paths of wave and tidal stream technologies are quite different, and the Scottish Government has already introduced a more tailored approach to the way it supports the two sectors.
The Scottish Government sees the considerable potential of the ocean power sector and is committed to providing the marine energy industry with the supportive policy environment it needs.