Global Markets For Wave And Tidal Energy
Authors: Sara Verbruggen
Published: January, 2015
Pages: 74 | Tables: 9 | Figures: 7

The wave and tidal sectors are at a crossroads. Progress in terms of device performance is being made across the world, with real-scale prototypes now operating in a number of countries. Global Markets for Wave and Tidal Energy examines the current status of the sector in a number of countries where prototypes are already in the water or planned. It also provides an overview of government support and prospects for the industry’s development.

Find out about

  • The future of the wave and tidal energy market
  • Technological developments
  • Growth trends
  • Key drivers and market trends shaping the industry’s future to 2024

What do you get?

  • A breakdown of the global wave and tidal market
  • Market forecasts
  • Multiple tables of data and statistics showing trends influencing wave and tidal implementation

What’s included in the price?

  • A hard copy of the report
  • Electronic version with searchable PDF
  • Global intranet licence, allowing data to be distributed throughout your organisation

How will this intelligence benefit you?

  • Stay ahead of the competition by getting the latest industry figures and analysis
  • Pinpoint growth and identify factors driving change
  • Plan for the future with confidence

Summary

The promise of wave and tidal energy is there for all to see. Not only are they fully renewable and emission-free sources of power, but their footprint is immensely less visible than that of wind or solar energy. Their ability to potentially make island communities self-reliant is also attractive. The conditions to create an industry around these technologies, however, have not yet been reached.

The wave and tidal sectors are at a crossroads. Progress in terms of device performance is being made across the world, with real-scale prototypes now operating in a number of countries. However, investors are showing a marked reluctance to embrace sectors where the time to commercialisation has proved much longer than they had anticipated.It is clear that the right incentives, realistic timeframes and government-led support are essential, alongside a more collaborative approach between all stakeholders. But it will take time.

No renewable energy organisation includes wave or tidal energy in its forecasts to 2030. Consequently, this report does not attempt to forecast future capacity.This report examines the current status in a number of countries where prototypes are already in the water or planned. It also provides an overview of government support, when in place, and prospects for the industry’s development.

It finds that only a handful of countries, including the UK, Canada and France, have not only made funding available for research and prototyping work but also introduced mechanisms to reduce the risk of private investment in projects, as well as outlined targets to 2020 and in the longer term.Europe stands out as the most supportive region globally, with its European Marine Energy Centre (EMEC) providing berths and test beds for these new technologies. In other regions, the prevailing trend is to prefer one technology – for example, tidal stream in North America and wave in Australia.

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