The Energy and Climate Change Committee says the UK had in the past lost its early lead on wind power through lack of support, and must not make the same mistake again on marine energy.
Its report recommends increasing funding and improving links between UK and Scottish programmes.
The Carbon Trust recently said marine power could create 10,000 jobs by 2020.
By 2050, it said, the global market could be worth £340bn, with the UK claiming about one-fifth of the business.
And with the UK possessing seven out of the eight large-scale prototypes deployed anywhere in the world, it was well-placed to lead the global race, the MPs said.
"In the 1980s the UK squandered the lead it had in wind power development, and now Denmark has a large share of the worldwide market in turbine manufacturing," said Tim Yeo MP, the committee's chairman.
"It should be a priority for the government to ensure that the UK remains at the cutting edge of developments in this technology and does not allow our lead to slip." Read the full report here.
Source: by Richard Black, Environment Correspondent, BBC News, U.K.
