Europe’s wave and tidal sector will require action at EU and Member State level to get pilot array projects in the water, according to the report ‘Wave and Tidal Energy Market Deployment Strategy for Europe’ published at the start of June.
The report, which is the final report from the SI Ocean project, presents the benefits that a strong wave and tidal sector would create for Europe’s economies and societies. Furthermore, it identifies the main barriers to industrialisation that the sector is facing and provides recommendations for policy makers on how to address them.
According to the report, completing these early projects in the short term is crucial if Europe is to maintain its frontrunner advantage and capture a new industrial market in the next decade. European companies currently hold a global lead in developing wave and tidal technologies, supported by cutting-edge academic research and testing facilities. If this advantage is preserved through innovation, it will enable Europe to dominate the world market, the report states.
“SI Ocean has clearly identified the importance of getting several pilot arrays plugged in and operational in the near future. It is also clear that these arrays are pre-commercial, demonstration projects and need to be supported accordingly, which is an important message for policymakers,” Dr Sian George, CEO of Ocean Energy Europe and Chairperson of the SI Ocean Advisory Board said.
However, Dr George also underlined that, despite all the challenges facing the sector, wave and tidal energy provides excellent long-term potential for economic growth, energy security and job creation, and policy makers at EU and Member State level are seeking innovative ways to accelerate commercialisation. She said that agreeing a common plan and putting in place appropriate support would be essential steps towards industrialising these sectors and putting Europe on track to secure 100GW of installed capacity by 2050.