Why ocean energy

Why ocean energy

What can ocean energy add?

Covering 70% of the planet’s surface, oceans are a source of abundant renewable energy potential. Energy harnessed from oceans, through offshore renewables, can contribute to the decarbonisation of the power sector and other end user applications relevant for a blue economy, e.g. shipping, cooling, water desalination. For countries with coastal areas and island territories, offshore renewables can provide significant socio-economic opportunities, such as job creation, improved livelihoods, local value chains and enhanced synergies between blue economy actors.

Offshore renewables include offshore wind (fixed and floating foundations), ocean energy (wave, tidal, ocean thermal energy conversion/OTEC, salinity gradient) and floating solar PV technologies. The theoretical resource potential of ocean energy ranges from 20,000 TWh to 80,000 TWh of electricity generation per year, representing 100% to 400% of the current global demand for electricity. 

Why is this project important?
The EVOLVE project’s most significant impact will be to support the evidence case to establish and re-establish market support for marine energy projects in Europe, which is currently absent, and affecting the continued development of the sector. It will achieve this by providing detailed evidence that marine renewables has additional benefits beyond standalone generating plant costs, that is increasing relevant as generating markets move to higher levels of renewable energy penetration which require a diverse mix of decoupled low carbon technologies to ensure cost effective matching of electricity supply and demand.