Scotland's stormy coastal waters, frequent high winds and heavy rainfall may not traditionally have been regarded as national assets - but viewed as rich sources of renewable energy, they could have the potential to generate a new wave of economic activity.

That's the view of Highlands and Islands Enterprise (HIE), which has just commissioned a study to examine whether such largely untapped resources, along with waste from forestry and other industry, could claim a greater share of the nation's future energy market, exporting surpluses which are generated and creating possibly hundreds of new jobs.

The study, which will report its findings in the new year, will consider the technical constraints associated with connecting generation in remote areas to the electricity network. Environmental considerations will be taken fully into account.

The Highlands and Islands are known to have the best potential in Europe for generating wind power and the marine energy resource around the coastline is also excellent. Nonetheless, the UK as a whole currently lags well behind other parts of the world in being able to harness such energy.

Britain has one of the lowest contributions from renewable sources of any country in the European Union - just two per cent of total supply. Largely thanks to hydro-electricity, Scotland fares better, with ten per cent of power demand met from renewable sources. However, even this figure falls short of the European average of 14 per cent.

In Denmark, for example, the wind industry alone employs 15,000 people in both generation and manufacturing - and the market is still growing. The latest estimates from the European Commission predict that worldwide investment in renewable energy is set to total between £150 billion and £400 billion over the next ten years.

According to Elaine Hanton of HIE's manufacturing and innovation team, Scotland doesn't just enjoy the natural advantages needed to take a leading role in renewable energy. Thanks to the oil and gas industry, the essential skills base is there too.

"One reason why use of renewable energy in the UK hasn't taken off in the same way as Scandinavia is that, for the time being, demand can be met through existing supplies such as coal, nuclear and gas power," Elaine explained.

"Looking ahead, however, as the world's stock of fossil fuels inevitably declines and our power stations approach the end of their working lives over the next ten to 20 years, that's really when we'd expect the renewable energy sector to come into its own.

"We believe that, in the Highlands and Islands, we are approaching a window of opportunity which would enable us to take advantage of a unique set of natural assets which are fairly undeveloped at present but have the potential to create a world-class industry.

"Just as importantly, many of the skills required by the renewable energy sector are equivalent to those used in the oil and gas industry, so people working in that sector should find it possible to make the changeover to wind and wave power, both in terms of tapping into the source and possibly manufacturing the generating equipment.

"That combination of natural and human resources could give the Highlands and Islands a real competitive edge, which we expect the new study to quantify.

"Clearly there will also be obstacles in the way of this kind of development and we do need to weigh up any potential negative impacts on the environment. What is important is that we take the opportunity now to gather in the facts which will inform the forthcoming debate on renewable energy at national and local level and that's what this study will enable us to do."