Tidal-in-Stream energy has been heralded by many as a significant potential source for clean power, a scheme where kinetic energy is extracted from tidal currents. A number of estimates have suggested that tidal power may become a sizeable fraction of overall electricity generation, however these estimates have been largely based on a resource assessment methodology that dramatically oversimplifies the physical phenomenon at play. This paper develops a model that considers the effect of energy extraction on the bulk flow, showing that tidal energy inventories that assess solely kinetic energy flux may represent both an order-of-magnitude overestimation of the resource and a significant oversimplification of regulatory impacts. The interplay between the characteristics of a flow and the regulatory and economic issues will likely limit tidal power generation to levels significantly below the physical maximums. Permitted flow reduction, turbine design and staging of development all have significant and predictable impacts on the extractible resource. Energy planners must therefore understand these relationships in order to appropriately assess the magnitude of generation that can be realistically be produced from tidal energy. (C) 2011 Elsevier Ltd. All rights reserved.