Wave power can contribute to 10% of global electricity demand by 2050 if governments and the private sector offer financial support and political stability, with the UK primed to act as the marine energy leader. The is the key finding from Marine Power Systems’ (MPS) Making Wave Power Work report, released today (28 June). The report claims that Europe could exploit an annual market worth more than £46bn to drive uptake in wave and tidal technologies. MPS’ managing director Gareth Stockman said: “The world is rapidly transitioning to a low carbon future. Our vision is for wave power to provide 10% of the world’s electricity by 2050. With stable government policy, steady investment and joined up communications from industry partners, the wave energy industry can become an economic success story, following in the footsteps of more mature renewable technologies such as wind and solar to become a source of reliable, affordable, clean energy.” The report claims that estimated global wave resources could potentially reach 4,000TWh annually. In comparison, current global electricity consumption sits at around 21,000TWh and is expected to double by 2050. According to MPS, these figures provide a call to action for trade bodies, governments and businesses to work together to support wave energy and unlock a global market worth £76bn.
Edie 28th June 2017 read more »
A £10 million EU fund which aims to help small- and medium-sized firms to commercialise new marine energy technologies and products is seeking to select new projects to support. The FORESEA programme (Funding Ocean Renewable Energy through Strategic European Action) provides successful applicants with giving free access to a network of European test sites – including EMEC on Orkney.
Scottish Energy News 29th June 2017 read more »