According to a report by the International Renewable Energy Agency (IRENA), the potential of ocean energy is “staggering,” and related technologies could contribute to energy interdependence, decarbonization and job creation.
The overview report, launched in August and titled ‘Ocean Energy: Technology Readiness, Patents, Deployment Status and Outlook,' is part of a package of work by IRENA on ocean energy, which includes four technology briefs released in June 2014.
September 2014: According to a report by the International Renewable Energy Agency (IRENA), the potential of ocean energy is “staggering,” and related technologies could contribute to energy interdependence, decarbonization and job creation. The overview report, launched in August and titled ‘Ocean Energy: Technology Readiness, Patents, Deployment Status and Outlook,’ is part of a package of work by IRENA on ocean energy, which includes four technology briefs released in June 2014.
The Ocean Energy report seeks to provide information to support the identification of emerging technologies approaching commercialization, and assist policymakers in medium- and long term energy technology planning and strategic decisions.
The study provides a review of ocean energy, including resource and technology characteristics, technology development and deployment status at present and in the future, and key players in the sector. It also presents a classification of ocean energy technologies and development trends, discusses barriers to technology development and deployment, and provides recommendations for policymakers.
On development trends, the report finds that existing patents and announced projects span the world, and identifies hotspots of activity in the UK, France, the US, Australia, Canada, France, Japan, and the Republic of Korea.
The study identifies barriers relating to technology, economics, environmental and social issues, and infrastructure. While the levelized costs of ocean energy technologies are presently high compared to other renewable energy technologies, commercial maturity is expected from the 2020s onwards. Cost reductions will, however, be largely determined by deployment, investment, and learning and innovation, rather than time. Other challenges include improved system reliability and performance.
Overall, the study stresses the need for differentiated approaches to ocean energy technologies that are tailored to country-specific circumstances and take into account the technical maturity of each technology.
The report also notes that, while ocean energy could be an option for island communities and ocean energy converters have been demonstrated in such settings, commercial plants are still not foreseen in the short term for any island.
In September, in a parallel development, the International Energy Agency’s (IEA) Energy Technology Network reported on the launch of a web-based Geographical Information System (GIS) tool, which provides access to detailed, visual information related to ocean energy globally. Information mapped comprises energy facilities, resources, infrastructures, and general geopolitical and geographical information. The tool has been developed by the Ocean Energy Systems Implementing Agreement (OES), which operates under the IEA. [IRENA Ocean Energy Report Webpage] [Publication: Ocean Energy: Technology Readiness, Patents, Deployment Status and Outlook] [IISD RS Story on Previously Published IRENA Ocean Technology Briefs] [IEA Technology Spotlight on the Ocean Energy GIS Tool] [OES Website] [OES Ocean Energy GIS Tool]