The groups recommends working with other Channel Islands on tidal power
Tidal power could make a "real contribution" to Jersey's future energy and security requirements, a States steering group has concluded.
The group said energy generated from waves could also be exported to Europe.
It recommended a States group be set up to carry out an environmental impact survey and prepare legislation to allow the development of tidal power.
Alderney has already voted in favour of tidal power, and Guernsey and Sark are working on their own plans.
Constable Dan Murphy, the steering group's chairman, said: "The group has unanimously concluded that tidal power could make a real and increasing contribution to the energy requirements and security of the Island for the rest of this century.
"We believe that Jersey's waters offer an opportunity for us to harness significant amounts of renewable energy both for Jersey but also potentially for export to European markets."
The group also recommended exploring potential tidal power "collaborations" with the other Channel Islands and talking to EDF energy about possibly supplying some of its renewable energy requirement in the future.
Senator Freddie Cohen, environment and planning minister, said: "I warmly welcome this report and look forward to meeting with the Tidal Power Steering Group in the New Year to discuss their recommendations in depth."