NewEnergyNews: Ocean Energy Can Rise

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    Thursday, June 28, 2018

    Ocean Energy Can Rise

    EU predicts 3.9GW ocean splash; Commission study forecasts growth for tidal and wave sector in years to 2030

    June 27, 2018 (RENews)

    “Global installed wave and tidal energy capacity is forecast] to hit up to 3.9GW by 2030 based on current levels of political support…[That figure could] drop to 2.8GW and 1.3GW respectively in so-called medium and pessimistic scenarios…[According to the optimistic scenario in a new UN study,] the expected tidal stream capacity in 2030 is 2.4GW, tidal range 1GW and wave 500MW…Under the medium scenario, tidal stream capacity forecast is 1.6GW, tidal range 840MW and wave 370MW…The pessimistic scenario predicts tidal stream capacity to reach 700MW tidal range and 70MW for wave with no new tidal range installations…The study expects up to 87% of the cumulative capacity forecast by 2030 will be installed in Europe…Over €6bn has been invested worldwide into projects so far, 75% of which from private finance…The study expects investment ranging between €2.8-9.4bn to 2030, excluding tidal range…[I]mplementation of revenue support across member states is of “paramount importance” to accompany national and EU funding.” click here for more

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