This paper explores the role of environmental impact assessment (EIA) in advancing the 'Blue Economy'. The ability of EIA frameworks to act as the interface between science and regulation and advance scientific knowledge is assessed. This paper examines how regulators and regulatory frameworks can best use available science, as well as facilitate the generation and sharing of new scientific knowledge on environmental impacts, using the emerging Marine Renewable Energy (MRE) industry as a case study. Some reforms to traditional EIA frameworks are considered. In particular this paper represents the first contribution to the literature on the 'Deploy and Monitor' and 'Rochdale Envelope' approaches to EIA. Strategic Environmental Assessment (SEA) is also considered in the MRE context. It is argued that some simple reforms to EIA processes, as well as well-planned SEA, can augment the role of science, and contribute to a supportive regulatory environment that facilitates innovation whilst also protecting the environment.