A new report from Ocean Energy Europe concludes that wave and tidal energy could supply up to 13% of global electricity demand and around 21% of the European Union’s current electricity consumption, highlighting marine energy’s potential to become a major contributor to the global clean energy transition.
The report, Ocean Energy: The Largest Untapped Renewable Resource, brings together findings from more than 70 government and academic studies to deliver what Ocean Energy Europe describes as the first comprehensive global assessment of wave and tidal energy resources.
Europe Holds Significant Marine Energy Potential
According to the report, ocean energy could eventually generate more electricity in Europe than fossil gas or hydropower currently provides.
The assessment identifies the United Kingdom and France as home to some of the world’s strongest tidal energy resources. Wave energy alone could generate electricity equivalent to more than 100% of current demand in both Ireland and Portugal, around 55% in the United Kingdom and more than 30% in Spain.
Ocean Energy Europe said advances in technology and improved resource assessments have significantly increased estimates of Europe’s marine energy potential compared with previous studies, while noting that many coastal regions around the world have yet to fully evaluate their ocean energy resources.
Global Opportunities Continue to Grow
Beyond Europe, the report identifies substantial opportunities across the Americas, Asia, Oceania and Africa.
Marine energy resources across North and South America could meet an estimated 36% of regional electricity demand. The United States and Canada possess the largest assessed resources, while wave energy alone could generate around 20% of electricity demand in both Brazil and Chile.
In Asia, tidal resources are particularly significant. The report indicates tidal energy could produce electricity equivalent to 100% of current demand in the Philippines and more than half of Indonesia’s electricity consumption. Japan has begun deploying its first tidal turbines, while China has included large-scale ocean energy development in its latest national five-year plan.
The report also highlights considerable but largely unassessed marine energy resources across many African countries and Small Island Developing States, suggesting the sector’s long-term global potential may exceed current estimates.
Industry Urges Faster Commercial Deployment
The report was launched during a webinar on June 29 featuring representatives from the International Renewable Energy Agency (IRENA), the European Commission and Ocean Energy Europe.
James Walker, Team Lead at IRENA, emphasized the importance of expanding global marine energy assessments.
“Comprehensive renewable energy resource assessments are an essential foundation for developing the policy and strategy frameworks which deliver energy transition progress. This study highlights both the significant global potential of ocean energy, and the need to expand data collection, harmonise assessment methodologies and support more countries in understanding their marine energy resources.”
Rémi Gruet, Chief Executive Officer of Ocean Energy Europe, said the findings demonstrate that wave and tidal energy have the potential to become mainstream renewable technologies.
“This assessment confirms that ocean energy is not a niche technology. The resource is abundant, the technology is progressing, and countries that move first will secure industrial leadership, export opportunities and home-grown renewable electricity. The next step is to translate this global potential into commercial deployment.”
Source: EnergyMagz