Ireland could potentially export as much energy as we consume ourselves as part of the Government's strategy for Renewable Energy 2012 - 2020, it was claimed today.
It is also suggested that as many as 10,000 jobs could be created by 2015 in the wider green economy.
However, commentators stress the importance of the Government sticking to its own strategy to avoid the loss of our vast natural Resources to big business or to Europe.
The Sustainable Energy Authority of Ireland said that the Government's strategy is a step in the right direction.
Eoin Sweeney, head of the Ocean Energy Development Unit of the SEAI, said that we will need careful management in order to retain the control - and huge benefits of our resources.
"The big question is how much of this business are we going to do?" he said.
"Do we simply licence areas to large companies - and it will take large companies let's be clear about that - and do we then just supply sandwiches out to the guys out in the rigs doing this?
"Or do we actually build, operate, maintain and support technologies and the services associated with that business? And that can transform the Irish economy."