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Wave and Tidal Energy Report

Market Potential and Business Opportunities

Ocean energy, in the form of tidal and wave energy, is in its nascent stages. But the future potential of this form of renewable energy is significant, providing diverse opportunities to a range of businesses.


Significant Progress in Tidal and Wave Energy Industry

A study undertaken to assess the potential of ocean energy as a source of renewable energy to generated electricity by UK Department of Trade and Industry (DTI), the World Energy Council (WEC), the International Energy Agency (IEA) and the Carbon Trust (CT) concluded that marine energy has the potential to make a significant contribution to energy supply in the UK and internationally. The opportunities for investment are huge and ocean energy conversion systems are being developed in a number of countries, with the United Kingdom leading the development efforts, followed by the United States. In addition, numerous research and development initiatives are currently being pursued in various academic institutions throughout the world.

Among the twenty four countries which has developed ocean energy conversion systems, 19 countries have installed wave system and 13 countries have installed tidal stream system.

An independent market assessment estimated the world-wide potential of wave energy economic contribution in the electricity market to be in the order of 2,000 TWh/year, which is about 12% of world electricity consumption (based on 2009 data) and is comparable to the amount of electricity currently produced world-wide by large scale hydroelectric projects.

In terms of market value, the potential market for wave energy is worth about $1 trillion worldwide, according to the World Energy Council. In the United States alone, wave technology could supply 6.5 percent of the nation's energy.

The global tidal range energy potential is estimated to be about 2.5-3 TW, about 1 TW being available at comparably shallow waters. Estimates of potential electricity generation vary between 200-400 TWh. (Source: IEA-OES Annual Report, 2009)


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Updated May 2011
No.of pages : 205

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Prominent Companies in Tidal Energy
Company Name Technology Country Year Started Status
Verdant Power Horizontal Axis Turbine U.S. 2000 Commercial
Neptune Renewable Energy Vertical Axis Venturi Turbine U.K. 2005 Prototype
Marine Current Turbines Horizontal Axis Turbine U.K. 2000 Commercial
SMD Hydrovision Horizontal Axis Turbine U.K. 2003 Prototype
Open Hydro Open-Center Turbine Ireland 2005 Pre-commercial
Hammerfest Strøm Horizontal Axis Turbine Norway 1997 Pilot




Prominent Companies in Wave Energy
Company Name Technology Country Year Started Status
Pelamis Wave Power Attenuator U.K. 1998 Commercial
Wave Star Energy Attenuator Denmark 2000 Pilot
AWS Ocean Energy Point Absorber U.K. 2004 Pre-Commercial
Wave Dragon Overtopper Denmark 1987 Commercial
WaveGen Oscillating Water Column U.K. 1990 Commercial
Oceanlinx Oscillating Water Column Australia 1997 Commercial
SyncWave Energy Point Absorber Canada 2004 Prototype

How can entrepreneurs benefit from this opportunity?

The fact that the marine renewable sector is less well developed than other energy industries presents companies with both opportunities and challenges. The lack of an established industry structure can make entry into the market uncertain for newcomers. However, this lack of structure also means that companies are potentially more able to create and take opportunities than is possible in other parts of the energy industry that are developed and more mature.

Opportunities exist in the following areas across the marine energy value chain:

  • R&D
  • Feasibility
  • Planning
  • Design
  • Manufacture
  • Installation
  • Operation and Maintenance
  • Decommissioning

A wide range of companies are involved in the marine renewable sector. The figure below shows the key segments of the sector - services that are needed for the successful completion of a project range from insurance and finance, resource assessments, environmental surveys, design, manufacture, offshore construction, operation and decommissioning.

Different members of the supply chain are responsible for different parts of projects depending on the type of project and its stage of development. Key classes of firms that are involved in the supply chain include Legal firms, Financial firms, Insurance firms, Marine Service firms, Technology Developers, Manufacturers, Test Facilities, Project Developers, Installation Contractors, and Energy Majors/Utilities.

Presenting the Wave and Tidal Energy Market Potential and Business Opportunities Report

The objective of the Tidal and Wave Energy Report is to provide precise and practical answers to the critical questions asked by entrepreneurs and investors.

The report has been prepared after intensive research by a team of industry, scientific and market research experts. During the preparation, a large number of diverse data sources related to tidal and wave - both primary and secondary - were used. These included interviews with tidal and wave experts and consultants, data from high-end consultants, inputs from a number of seminars and conferences on tidal and wave, white papers, industry and research journals were used.

The Wave and Tidal Energy Market Potential and Business Opportunities provides strategic advice and numerous case studies on the prominent and emerging tidal and wave industry, and will be immensely useful for entrepreneurs, businesses and individuals who are keen on understanding the business case in the tidal and wave industry and devising an effective strategy for this exciting business segment.


The report provides precise insights and precise inputs for the following questions

  • What are the current and future trends in tidal and wave energy sources worldwide?
  • What are the segments in tidal and wave energy industries that have the most attractive business potential?
  • What are the trends and new developments in tidal and wave energy technologies?
  • What are the investment trends and opportunities in tidal and wave energy and sustainability industries?
  • What segments of the tidal and wave energy industry are attractive for small scale investments?
  • What are the most significant problems or bottlenecks in tidal and wave energy business?
  • What steps should an entrepreneur take should she/he be interested in exploring further?
Does the tidal and wave energy industry have attractive small business opportunities?

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If you are interested in purchasing the report or getting our help, talk to us now.

Sindhuja Ramar
Email: s.ramar@clixoo.com
Mobile: +91-9043539679 (India)

List of Contents

Section 1: Introduction to Wave and Tidal Energy

1. Introduction to Alternative & Renewable Energy

Figures
  • Primary and Emerging Sources of Energy

2. Wave Energy

2.1 Introduction to Wave Energy

2.2 Wave Energy Technology

2.2.1 Oscillating Water Columns

2.2.2 Absorbers

2.2.3 Inverted Pendulum Devices

2.2.4 Overtopping Devices

2.3 Wave Energy Potential

Figures
  • Oscillating Water Column
  • Point Absorber
  • Inverted Pendulum
  • Overtopping Device
  • Potential Wave Energy Sites Worldwide

3. Tidal Energy

3.1 Introduction to Tidal Energy

3.2 Tidal Energy Technology

3.2.1 Tidal Barrages

3.2.2 Tidal Stream Systems

3.2.3 Tidal Lagoons

3.3 Tidal Energy Potential

Figures
  • Bulb Turbine
  • Rim Turbine
  • Tubular Turbine
  • Tidal Fences
  • Tidal Turbines
  • Tidal Lagoons
  • Potential Tidal Range Worldwide
Tables
  • Highest Tides (Tide Ranges) of the Global Ocean
  • Existing Large Tidal Power (barrage) Plants
  • Tidal Barrage Projects and Proposals
  • Tidal Stream Resources

4. Status and Trends

4.1 Classification of Ocean Energy Systems

4.1.1 Regional Development in Ocean Energy Conversion Systems

4.1.2 Different Development Stages of Ocean Energy Conversion Systems

4.1.3 Wave Energy Systems Based on Device Type

4.1.4 Tidal Stream Systems Based on Device Type

4.2 Market Forecast

4.3 Ocean Energy Developments in Key Markets

4.3.1 Portugal

4.3.2 Denmark

4.3.3 United Kingdom

4.3.4 Ireland

4.3.5 USA

4.3.6 Canada

4.3.7 Mexico

4.3.8 Spain

4.3.9 Italy

4.3.10 Australia

4.4 Market Players

4.4.1 Prominent Companies in Wave Energy

4.4.2 Prominent Companies in Tidal Energy

4.5 Other Ocean Energy Technologies

Figures
  • Regional Development in Ocean Energy Conversion Systems
  • Development Stages of Ocean Energy Conversion Systems
  • Development Status of Tidal Current Systems
  • Percentage of Wave Energy Systems in the Different Development Status
  • Wave Energy Systems Based on Device Type
  • Tidal Stream Systems Based on Device Type
  • Forecast - Worldwide Installed Capacity by Generation Type
  • Forecast - UK Marine Energy Installed Capacity
  • UK Current and Future Deployment
  • Marine Energy: with Acceleration, UKERC, 2050
  • Market Players
  • Ocean Thermal Energy Potential
  • The Potential Resource for the Osmotic Pairing of Fresh Water and Seawater
Tables
  • Funding Available for Renewable Energy Program
  • Research and Development Funding Scheme for Industry-led Projects in Wave and Tidal Technology
  • RD&D Investment in Ocean Energy since 2000
  • Wave Energy Companies
  • Prominent Companies Developing Tidal Energy

5. Wave and Tidal Energy Industry - Structure and Dynamics

5.1 Market Drivers

5.2 Market Challenges

5.2.1 Challenges in Ocean Energy Systems

5.2.2 Challenges Specific to Wave Energy Systems

5.2.3 Challenges Specific to Tidal Energy Systems

5.3 Value Chain of Ocean Energy Systems

5.3.1 Wave Energy Value Chain

5.3.2 Tidal Energy Value Chain

Figures
  • World Marketed Energy Consumption, 2006 - 2030
  • World Coal Consumption, 1990 - 2030
  • Crude Oil Prices, 1869 - 2009
  • Graphical Representation of Global Temperatures
  • Global Fossil Carbon Emissions
  • Structure of Renewable Obligation Certificate Trading
  • Tidal Energy Value Chain
  • Wave Energy Value Chain
Tables
  • Regulatory Support for Marine Renewable
  • Typical Timescale for a Commercial Project

Section 2: Wave and Tidal Energy - Cost and Investment

6. Costs and Investments

6.1 Wave and Tidal Energy Systems Capital and O&M Costs

6.1.1 Capital Costs

6.1.2 Operations & Maintenance Costs

6.2 Levelized Costs for Wave and Tidal Energy

6.3 Developments towards Cost Reductions in Ocean Energy

6.3.1 Cost Reduction Possibilities for Wave Energy Converters

6.3.2 Cost Reduction Possibilities for Tidal Stream Energy Generators

6.4 Future Cost Predictions

6.4.1 Cost-resource Curves for Wave Energy

6.4.2 Cost-resource Curves for Tidal Stream Energy

6.4 Ocean Energy Investments

6.4.1 Investments in Wave Energy

6.4.2 Investments in Tidal Energy

6.5 Venture Capital Financing

Figures
  • Breakdown of Capital Cost for a Wave Farm
  • Breakdown of Capital Cost for a Tidal Stream Farm
  • Breakdown of Operation and Maintenance Cost for a Wave Farm
  • Price of Offshore Wave Energy
  • UK Tidal Stream Cost-resources Curves - Step Wise Cost-resource Curve
  • UK Tidal Stream Cost-resource Curves - Smooth Cost-resource Curve
  • Ocean Energy Investment
  • The VC/PE Investment by Technology
Tables
  • A Sample Capex Breakup Data for a 50 MW Tidal Stream Project
  • Cost Centers and Cost Drivers for Wave Energy
  • The Levelized Costs of Electricity Production for Wave and Tidal (Stream)
  • VC Investment in Companies

Section 3 Wave and Tidal Energy - Case Studies and Business Opportunities

7. Case Studies and Business Opportunities

7.1 Wave Energy Case Studies

7.2 Tidal Energy Case Studies

7.3 Wave and Tidal Energy Opportunities

Figures
  • Ocean Energy Value Chain
  • Ocean Energy Supply Chain
  • Capital & Operational Expenses for Wave and Tidal Energy Sources

8. Next Steps for Entrepreneurs Exploring the Wave and Tidal Energy Industry

8.1 Tips & Suggestions

8.2 Mistakes to be Avoided

9. Useful Web Resources for Entrepreneurs

9.1 Wave & Tidal Energy Web Resources

9.2 Other Alternative & Renewable Energy Web Resources

9.2.1 News Sites

9.2.2 Blogs

9.2.3 Forums

9.2.4 Portals & Guides

10. Associations for Wave and Tidal Energy

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Price: US$ 1000

If you are interested in purchasing the report or getting our help, talk to us now.

Sindhuja Ramar
Mobile: +91-9043539679 (India)
Email : s.ramar@clixoo.com

Our support services include:
Free Expert Assistance : Buyers get additional research support from the Altprofits Team at no cost
Free Updates: Customers who buy the report get three updated versions released subsequent to their purchase, at no additional cost

Key take-aways from the report:

  • Owing to their nascency and lack of mature technologies, both the wave and tidal energy industries are expected to be in research and pilot phases until about 2012.
  • Tidal energy source is more reliable than wave energy owing to the predictability of the tides.
  • The realizable potential for wave and tidal together is estimated to be a maximum of about 25% of the total world demand for electricity, though the theoretical potential is much higher.
  • In terms of market value, the potential market for wave energy is worth about $1 trillion worldwide, according to the World Energy Council. In the United States alone, wave technology could supply 6.5 percent of the nation's energy.
  • There have been estimates that investments of over ₤500 billion would be necessary for wave energy to contribute 2000 TWh per year worldwide.
  • United Kingdom leads the development in ocean energy conversion systems. Other countries where significant technology development efforts are being pursued include United States, Canada and Norway.
  • As of 2009, of the total electricity production from renewables, less than 0.03% is obtained from tidal sources. The tidal barrage in La Rance, France with an installed capacity of 240 MW is the only major commercial-scale barrage system in the world. It generates 0.5 TWh of electricity per year.
  • Ocean Thermal Energy Conversion technology is expected to become cost competitive in the next 5 to 10 years in the island nations of the South Pacific since the price of diesel can be expected to double.
  • A significant need exist for wave and tidal energy to improve engineering design before a large number of devices are manufactured and installed.
  • Development of low cost installation, operation and maintenance strategies for marine energy devices are priority areas for cost reduction.
  • Wave energy technologies are the most heavily researched and funded sector in the ocean power industry. Tidal energy technologies have received relatively less attention than wave energy technologies, despite their comparative success in commercial deployment and in lab and in-water testing.
  • The lack of an established structure in the marine energy industry enables companies to create lucrative opportunities when compared with other sectors of the energy industry which are more mature.