The Ocean Energy Report : Tidal Wave - Ocean Thermal - Marine Current (Edition 3 - 2007)

Abstract

Introduction

• 2006 was a year in which the development of ocean energy made a leap forward
• The UK, more specifically Scotland is fast becoming the global leader in ocean energy research and development
• The British government is an enthusiastic supporter of ocean energy

Report Scope

• The report looks at the market development
• It provides a comprehensive overview of Ocean energy - looking at tidal, wave, ocean and marine energy
• The advantages and disadvantages are discussed
• The benefits of the different forms of ocean energy are analysed
• The technical aspects are analyses
• The manufacturing base is listed with the company name, address, tel, fax, email and energy

Key Findings

• Between 2004 and 2008, it has been estimated that the world capital expenditure (CAPEX) on wave energy will be US$140 million, with almost 50% of this in the UK
• In the same period, it has been estimated that the world CAPEX on tidal projects will be around US$110 million, with almost 90% of this being related to the UK market
• Together wave and tidal energy represent a global market of US$250 million, with US$180 million earned in the UK
• While committed tidal projects are primarily off the East Asian Pacific coasts of Korea and China, the bulk of wave energy projects are being developed in Europe
• The UK and Portugal are the countries with the most current activity
• In the last year, there has been an advance in the progress of tidal energy, with one barrage already under construction on the Korean coast, the 254 MW Shihwa tidal power plant, and a contract agreed for a second 300 MW tidal lagoon power plant in China
• Both are larger than the barrage at La Rance in France, presently the largest in the world
• The technology that is most advanced toward commercialisation is the Pelamis (named after a sea-snake), under development by Ocean Power Delivery Ltd in Scotland
• Sea trials are underway of the Wavegen commercial scale wave energy converter, LIMPET, which is feeding electricity into the supply of the Scottish island of Islay
• The first commercial grid-connected marine current turbine is currently being test operated at Lynmouth in the UK
• The first ship to use the technology of oscillating water wings may be the Orcelle