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The Isle of Wight Council's joining industry calls for more government support for tide and wave power.
RenewableUK is also appealing for more investment as says the industry could be worth £3.7 billion in the UK by 2020. Here, the local authority is working to create a testing site for making energy through tidal power.
Last month Isle of Wight Council agreed to commit £1 million to the Solent Ocean Energy Centre, which is also backed by a £2 million private sector investment. Crown Estates must give its permission for the scheme, alongside the government.
Isle of Wight Council leader David Pugh said: "In its tides, the Island has a limitless power source just waiting to be harnessed. What is more it also has an indigenous industry base capable of supporting such a facility."
"We as a council have demonstrated our faith in the project with significant investment which has been more than matched by the private sector. Discussions with Crown Estates have also been positive."
"Despite a significant investment from a local authority the potential of the project will only be realised if the government follow our lead and provide some financial support for the industry. This would be a tremendous example of national government action matched by local government innovation and leadership from which the whole country could benefit. It will also help secure the future of a young and innovative industry in which UK is currently a world leader."
David Krohn, RenewableUK's wave and tidal development manager, said: "One step the government could take is to allow the Green Investment Bank to support wave and tidal projects at an early stage. It's frustrating that ministers have not yet identified marine energy as a priority sector for the GIB."
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