SI Ocean project published a study on the extent to which the wave and tidal energy sectors will meet their 2020 objectives and how it will be in direct proportion to the political will to implement the right mechanisms for advancing existing technologies.
The Wave & Tidal Energy Strategic Technology Agenda reports that the development of these technologies will depend on overcoming existing barriers to technological progression, finding the right balance of co-operation and competition amongst different actors, and on the availability of specific funds and policies to support the sector’s growth.
The report produced by three SI Ocean partners – the Joint Research Centre of the European Commission, the University of Edinburgh and The Carbon Trust – provides a review of the current technological and economic trends in the wave and tidal energy sectors and summarises the issues hindering the sectors development.
The report identifies a number of mechanisms, under a two-pronged strategy of ‘technological development’ and ‘deployment & risk reduction’, which would drive the sector forward towards full-scale commercialisation and competitiveness with other energy sources. These mechanisms focus on demonstrating existing technologies and developing technological solutions for the future.
“With the correct level of policies and support in place, ocean energy can become a big European success story over the next decade; the Strategic Technology Agenda has just put forward a very strong argument in support of this,” said Dr Sian George, Chair of the SI Ocean Advisory Board and CEO of Ocean Energy Europe.
“The report has been widely welcomed by the industry and will be used as an important building block by TIP Ocean (the Technology & Innovation Platform for Ocean Energy) and the Ocean Energy Forum,” concluded George.
The Wave & Tidal Energy Strategic Technology Agenda is the second in a trilogy of reports from the SI Ocean project. The final report, the Market Deployment Strategy, is due this May.