OCEAN ENERGY’S FINANCES UNDER SCRUTINY

Ocean energy ROI questionable

Barbara Vergetis Lundin, July 15, 2014 (Fierce Energy)

“In 2013, the wave and tidal energy market was valued at $25 million, and Transparency Market Research (TMR) anticipates that will reach $10.1 billion in 2020 -- a Compound Annual Growth Rate (CAGR) of 64.1 percent from 2014 to 2020…When harnessed effectively, ocean could prove to be one of the largest reserves of clean and sustainable energy…Tidal stream power plants are a relatively new technology with ample scope for development, while tidal range power is a mature form of energy generation technology…[Wave energy] is a relatively new concept…with the installed capacity aggregated at just 5.77 MW in 2013…[L]arge-scale commercial array deployments of wave and tidal power plants [and development of the offshore wind energy sector] will be followed by massive cost reductions…TMR expects major developments in wave and tidal stream plants to take place in Europe but estimates South Korea to grow fastest in terms of tidal barrage operations…[T]he wave and tidal energy market is projected to reach 3712 MW by 2020 -- expanding at a CAGR of 34.5 percent from 2014 to 2020…Wave energy development in Asia-Pacific would be concentrated in Australia…[which is expected] to add nearly 25 MW of capacity by the end of 2020…” click here for more

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