Canada has committed to reaching net-zero greenhouse gas emissions by 2050. Achieving this objective will require a rapid transition to renewable energy sources to decarbonize existing electricity supply and power new end uses. The roles that different renewable technologies will play in a future energy mix is up for debate; we must decide where and to what extent renewable power sources will be developed and scale them up quickly to enable a transition away from emitting sources. While Canada has over 2300 gigawatts (GW) of potential marine renewable energy (MRE), over 20 times its existing hydroelectric capacity, no utility scale MRE developments exist in Canada at present. In this report, we assess the opportunities for MRE and the barriers to its development in Canada. Specifically, we assess 1) the status of the major MRE technologies: offshore wind, tidal, and wave; 2) the total potential MRE capacity across the country; 3) the current economic landscape for MRE; 4) the ecological and other environmental risks of MRE technologies; 5) the public perception of MRE, and 6) some potential roles for and advantages of MRE over other renewable sources. We conclude by pointing out some relative advantages of marine renewable power as compared to other renewables, some key impediments to MREs growth, and some key questions that remain for the future of these technologies. We find that, on average, MREs are more predictable and consistent than terrestrial renewables in providing power. They are also abundant in coastal and island regions, where they are not bound by the spatial constraints of terrestrial renewables. We also find that most forms of MRE are unlikely to significantly affect ecosystems based on currently available research. Marine renewable technologies can provide energy security to remote coastal communities that currently rely on diesel and have the potential to support a just transition by providing jobs to workers in dying coastal and offshore industries such as oil and natural gas extraction. However, several factors have prevented Canada from capitalizing on its wealth of MRE resources and expanding the sector: namely 1) an often-convoluted regulatory environment; 2) a history of poor public perception and engagement; 3) a lack of available capital investment; 4) a need for additional evidence to support the viability of novel MRE technologies; and 5) economic competition from terrestrial wind and solar. Moving forward, we propose that an expansion of the MRE sector will require continued capital investment in research and deployment of test arrays, changes to the regulatory landscape to streamline development and responsible project planning with community engagement and support.