1 Table of Contents
1 Table of Contents 3
1.1 List of Tables 6
1.2 List of Figures 7
2 Introduction 8
2.1 Marine Energy Market, Overview 8
2.2 Marine Energy Market, Technology Overview 9
2.2.1 Tidal Technologies 9
2.2.2 Wave Technology 10
2.2.3 Ocean Thermal Energy Conversion 12
2.2.4 Salinity Gradient 12
2.3 Marine Energy Market, Global, Development Requirements of the Marine Technology 13
2.4 Report Guidance 15
3 Marine Energy Market, Global 16
3.1 Marine Energy Market, Global, Overview 16
3.2 Marine Energy Market, Global, Distribution of Projects 17
3.2.1 Tidal Energy Market, Global, Distribution of Projects 17
3.2.2 Wave Energy Market, Global, Distribution of Projects 18
3.3 Marine Energy Market, Global, Installed Capacity, MW, 2015–2030 19
3.3.1 Wave Power Market, Installed Capacity by Country, MW, 2015–2030 20
3.3.2 Tidal Power Market, Installed Capacity by Country, MW, 2015–2030 21
3.4 Marine Energy Market, Global, Cost Analysis 22
3.4.1 Tidal Energy Market, Global, Capital Cost Break-up, 2011 22
3.4.2 Wave Energy Market, Global, Capital Cost Break-up, 2011 23
3.4.3 Marine Energy Market, Global, Levelized Cost of Energy 24
4 Marine Energy Market, the US 26
4.1 Marine Energy Market, the US, Overview 26
4.2 Marine Energy Market, the US, Technology Potential 26
4.3 Marine Energy Market, the US, Power Projects 29
4.4 Marine Energy Market, the US, Supporting Policies and Programs 32
4.4.1 Production Tax Credit 32
4.4.2 Water Power Program 32
4.5 Marine Energy Market, the US, Supporting Authorities 32
4.5.1 Bureau of Ocean Energy Management (BOEM) 32
5 Marine Energy Market, Canada 33
5.1 Marine Energy Market, Canada, Overview 33
5.2 Marine Energy Market, Canada, Technology Potential 33
5.3 Marine Energy Market, Canada, Power Projects 34
5.4 Marine Energy Market, Canada, Supporting Policies and Programs 35
5.4.1 Renewable Electricity Plan 35
5.4.2 ecoENERGY Innovation Initiative Programme 35
5.4.3 ComFIT Program 35
5.5 Marine Energy Market, Canada, Supporting Authorities 35
5.5.1 Fundy Energy Research Network (FERN) 35
5.5.2 Fundy Ocean Research Centre for Energy (FORCE) 35
5.5.3 Offshore Energy and Environmental Research (OEER) 35
6 Marine Energy Market, The UK 36
6.1 Marine Energy Market, the UK, Overview 36
6.2 Marine Energy Market, the UK, Technology Potential 36
6.3 Marine Energy Market, the UK, Power Projects 37
6.4 Marine Energy Market, the UK, Supporting Policies and Programs 39
6.4.1 Marine Renewables Deployment Fund 39
6.4.2 Renewable Obligation Order 40
6.4.3 The UK Marine Energy Program 40
6.4.4 Marine Energy Array Demonstrator 40
6.4.5 Marine Renewable Commercialization Fund 40
6.5 Marine Energy Market, the UK, Supporting Authorities 40
6.5.1 European Marine Energy Centre 40
6.5.2 The Carbon Trust 40
7 Marine Energy Market, Portugal 41
7.1 Marine Energy Market, Portugal, Overview 41
7.2 Marine Energy Market, Portugal, Technology Potential 41
7.3 Marine Energy Market, Portugal, Power Projects 42
7.4 Marine Energy Market, Portugal, Supporting Policies and Programs 42
7.4.1 Wave Energy Pilot Zone 42
7.5 Marine Energy Market, Portugal, Supporting Authorities 42
7.5.1 Instituto Superior Tecnico 42
7.5.2 Wave Energy Centre 42
7.5.3 The Foundation for Science and Technology 42
8 Marine Energy Market, Australia 43
8.1 Marine Energy Market, Australia, Overview 43
8.2 Marine Energy Market, Australia, Technology Potential 43
8.3 Marine Energy Market, Australia, Power Projects 45
8.4 Marine Energy Market, Australia, Supporting Policies and Programs 46
8.4.1 Renewable Energy Development Program 46
8.4.2 Low Emissions Energy Development 46
8.5 Marine Energy Market, Australia, Supporting Authorities 46
8.5.1 Western Australian Sustainable Energy Association 46
8.5.2 The Commonwealth Scientific and Industrial Research Organisation (CSIRO) 46
8.5.3 Ocean Energy Industry Australia (OEIA) 46
9 Marine Energy Market, Republic of Korea 47
9.1 Marine Energy Market, Republic of Korea, Overview 47
9.2 Marine Energy Market, Republic of Korea, Technology Potential 47
9.3 Marine Energy Market, Republic of Korea, Power Projects 50
9.4 Marine Energy Market, Republic of Korea, Supporting Policies and Programs 51
9.4.1 Feed-in Tariff 51
9.5 Marine Energy Market, Republic of Korea, Supporting Authorities 51
10 Marine Energy Market, Company Analysis 52
10.1 Ocean Renewable Power Company 52
10.1.1 Ocean Renewable Power Company, Company Overview 52
10.1.2 Ocean Renewable Power Company, Major Historical Developments 53
10.1.3 Ocean Renewable Power Company, Technology Overview 54
10.1.4 Ocean Renewable Power Company, Marine Energy Projects 54
10.2 Aquamarine Power 56
10.2.1 Aquamarine Power, Company Overview 56
10.2.2 Aquamarine Power, Major Historical Developments 56
10.2.3 Aquamarine Power, Technology Overview 57
10.2.4 Aquamarine Power, Marine Energy Projects 58
10.3 AWS Ocean Energy 59
10.3.1 AWS Ocean Energy, Company Overview 59
10.3.2 AWS Ocean Energy, Major Historical Developments 60
10.3.3 AWS Ocean Energy, Technology Overview 60
10.3.4 AWS Ocean Energy, Marine Energy Projects 61
10.4 Carnegie Wave Energy Limited 61
10.4.1 Carnegie Wave Energy Limited, Company Overview 61
10.4.2 Carnegie Wave Energy Limited, Major Historical Developments 61
10.4.3 Carnegie Wave Energy Limited, Technology Overview 63
10.4.4 Carnegie Wave Energy Limited, Marine Energy Projects 63
10.5 Marine Current Turbines Limited 64
10.5.1 Marine Current Turbines Limited, Company Overview 64
10.5.2 Marine Current Turbines Limited, Major Historical Developments 65
10.5.3 Marine Current Turbines Limited, Technology Overview 66
10.5.4 Marine Current Turbines Limited, Marine Energy Projects 66
10.6 Ocean Power Technologies 67
10.6.1 Ocean Power Technologies, Company Overview 67
10.6.2 Ocean Power Technologies, Major Historical Developments 68
10.6.3 Ocean Power Technologies, Technology Overview 69
10.6.4 Ocean Power Technologies, Marine Energy Projects 70
10.7 Oceanlinx Limited 72
10.7.1 Oceanlinx Limited, Company Overview 72
10.7.2 Oceanlinx Limited, Major Historical Developments 72
10.7.3 Oceanlinx Limited, Technology Overview 73
10.7.4 Oceanlinx Limited, Marine Energy Projects 74
10.8 OpenHydro Group Limited 74
10.8.1 OpenHydro Group Limited, Company Overview 74
10.8.2 OpenHydro Group Limited, Major Historical Developments 75
10.8.3 OpenHydro Group Limited, Technology Overview 75
10.8.4 OpenHydro Group Limited, Marine Energy Projects 76
10.9 Pelamis Wave Power 77
10.9.1 Pelamis Wave Power, Company Overview 77
10.9.2 Pelamis Wave Power, Major Historical Developments 78
10.9.3 Pelamis Wave Power, Technology Overview 78
10.9.4 Pelamis Wave Power, Marine Energy Projects 79
10.10 Pulse Tidal 80
10.10.1 Pulse Tidal, Company Overview 80
10.10.2 Pulse Tidal, Major Historical Developments 81
10.10.3 Pulse Tidal, Technology Overview 81
10.10.4 Pulse Tidal, Marine Energy Projects 82
10.11 Verdant Power 82
10.11.1 Verdant Power, Company Overview 82
10.11.2 Verdant Power, Major Historical Developments 83
10.11.3 Verdant Power, Technology Overview 83
10.11.4 Verdant Power, Marine Energy Projects 84
10.12 Voith Hydro Wavegen Limited 84
10.12.1 Voith Hydro Wavegen Limited, Company Overview 84
10.12.2 Voith Hydro Wavegen Limited, Major Historical Developments 85
10.12.3 Voith Hydro Wavegen Limited, Technology Overview 85
10.12.4 Voith Hydro Wavegen Limited, Marine Energy Projects 86
10.13 BioPower Systems Pty 86
10.13.1 BioPower Systems Pty, Company Overview 86
10.13.2 BioPower Systems Pty, Major Historical Developments 87
10.13.3 BioPower Systems Pty, Technology Overview 88
10.13.4 BioPower Systems Pty, Marine Energy Projects 88
10.14 Tidal Generation Limited 89
10.14.1 Tidal Generation Limited, Company Overview 89
10.14.2 Tidal Generation Limited, Major Historical Developments 90
10.14.3 Tidal Generation Limited, Technology Overview 90
10.14.4 Tidal Generation Limited, Projects 91
10.15 Wavebob 91
10.15.1 Wavebob, Company Overview 91
10.15.2 Wavebob, Major Historical Developments 92
10.15.3 Wavebob, Technology Overview 92
10.15.4 Wavebob, Marine Energy Projects 92
10.16 Wello OY 93
10.16.1 Wello OY, Company Overview 93
10.16.2 Wello OY, Major Historical Developments 93
10.16.3 Wello OY, Technology Overview 94
10.16.4 Wello OY, Marine Energy Projects 94
11 Appendix 95
11.1 Marine Energy Market, Technology Definition 95
11.1.1 Tides and Tidal Barrage Power 95
11.1.2 Wave Energy 95
11.1.3 Marine Current 95
11.1.4 Salinity Gradient 95
11.1.5 Thermal Gradient 95
11.2 Abbreviations 96
11.3 Bibliography 97
11.4 Methodology 97
11.4.1 Secondary Research 97
11.4.2 Primary Research 97
11.5 Contact Us 98
11.6 Disclaimer 98
List of Tables
Table 1: Comparison of Ocean Energy with Solar, Wind, Biomass, Natural Gas and Coal Energy Sources 8
Table 2: Tidal Energy Market, Global, Major Companies and their Technologies 9
Table 3: Wave Energy Market, Global, Major Companies and their Technologies 11
Table 4: Tidal Energy Market, Global, Distribution of Projects July 2012 17
Table 5: Wave Energy Market, Global, Distribution of Projects, July 2012 18
Table 6: Marine Energy Market, Global, Cumulative Installed Capacity, MW, 2015–2030 19
Table 7: Wave Power Market, Global, Installed Capacity, MW, 2015–2030 20
Table 8: Tidal Power Market, Global, Installed Capacity, MW, 2015–2030 21
Table 9: Tidal Energy Market, Global, Break-up of Capital Cost, 2011 22
Table 10: Wave Energy Market, Global, Cost Analysis, Break-up of Capital Cost, 2011 23
Table 11: Marine Energy Market, Global, LCOE Comparison of Tidal and Wave Energy, $/kWh, 2011 24
Table 12: Tidal and Wave Energy Market, Global, LCOE Comparison with Other Renewable Sources, $/kWh, 2011 25
Table 13: Wave Power Market, The US, Technology Potential, %, 2011 27
Table 14: Tidal Power Market, The US, Technology Potential, MW, 2011 28
Table 15: Marine Energy Market, the US, Major Tidal and Wave Power Projects 29
Table 16: Tidal and Wave Energy Market, Canada, Technology Potential (MW) 34
Table 17: Marine Energy Market, Canada, Major Tidal and Wave Power Projects 34
Table 18: Tidal and Wave Energy, the UK, Technology Potential, TWh/Year 36
Table 19: Marine Energy Market, the UK, Major Tidal and Wave Power Projects 37
Table 20: Tidal and Wave Energy, Market, Portugal, Technology Potential, TWh/Year 41
Table 21: Marine Energy Market, Portugal, Major Marine Power Projects 42
Table 22: Tidal Energy Market, Australia, Kinetic Energy Potential of Tides along the Coast 44
Table 23: Wave Energy Market, Australia, Kinetic Energy Potential of Waves along the Coast (GWh) 44
Table 24: Marine Energy Market, Australia, Major Tidal and Wave Power Projects 45
Table 25: Tidal Energy Market, Republic of Korea, Technology Potential in Tidal Range, MW 48
Table 26: Tidal Energy Market, Republic of Korea, Technology Potential of Tidal Stream, MW 48
Table 27: Wave Energy Market, Republic of Korea, Technology Potential by Location Type, MW 49
Table 28: Marine Energy Market, Republic of Korea, Major Tidal and Wave Power Projects 50
Table 29: Ocean Renewable Power Company, Company Overview 52
Table 30: Ocean Renewable Power Company, Marine Energy Projects 55
Table 31: Aquamarine Power, Company Overview 56
Table 32: Aquamarine Power, Marine Energy Projects 58
Table 33: AWS Ocean Energy, Company Overview 59
Table 34: Marine Energy Market, AWS Ocean Energy, Marine Energy Projects 61
Table 35: Carnegie Wave Energy Limited, Company Overview 61
Table 36: Carnegie Wave Energy Limited, Marine Energy Projects 64
Table 37: Marine Current Turbines Limited, Company Overview 64
Table 38: Marine Current Turbines Limited, Marine Energy Projects 67
Table 39: Ocean Power Technologies, Company Overview 68
Table 40: Ocean Power Technologies, Marine Energy Projects 71
Table 41: Oceanlinx Limited, Company Overview 72
Table 42: Oceanlinx Limited, Marine Energy Projects 74
Table 43: OpenHydro Group Limited, Company Overview 74
Table 44: OpenHydro Group Limited, Marine Energy Projects 76
Table 45: Pelamis Wave Power, Company Overview 77
Table 46: Pelamis Wave Power, Marine Energy Projects 79
Table 47: Pulse Tidal, Company Overview 80
Table 48: Pulse Tidal, Marine Energy Projects 82
Table 49: Verdant Power, Company Overview 82
Table 50: Marine Energy Market, Verdant Power, Marine Energy Projects 84
Table 51: Voith Hydro Wavegen Limited, Company Overview 84
Table 52: Voith Hydro Wavegen Limited, Marine Energy Projects 86
Table 53: BioPower Systems Pty, Company Overview 86
Table 54: BioPower Systems Pty, Marine Energy Projects 88
Table 55: Tidal Generation Limited, Company Overview 89
Table 56: Tidal Generation Limited, Marine Energy Projects 91
Table 57: Wavebob, Company Overview 91
Table 58: Wello OY, Company Overview 93
Table 59: Abbreviations 96
1.2 List of Figures
Figure 1: Global Marine Energy, Global, Development Requirements, 2011 13
Figure 2: Tidal Energy Market, Global, Distribution of Projects July 2012 17
Figure 3: Wave Energy Market, Global, Distribution of Projects, July 2012 18
Figure 4: Marine Energy Market, Global, Cumulative Installed Capacity, MW, 2015–2030 19
Figure 5: Wave Power Market, Global, Installed Capacity, MW, 2015–2030 20
Figure 6: Tidal Power Market, Global, Installed Capacity, MW, 2015–2030 21
Figure 7: Tidal Energy Market, Global, Break-up of Capital Cost, 2011 22
Figure 8: Wave Energy Market, Global, Cost Analysis, Break-up of Capital Cost, 2011 23
Figure 9: Marine Energy Market, Global, LCOE Comparison of Tidal and Wave Energy, $/kWh, 2011 24
Figure 10: Tidal and Wave Energy Market, Global, LCOE Comparison with Other Renewable Sources, $/kWh, 2011 25
Figure 11: Wave Power Market, The US, Technology Potential, %, 2011 26
Figure 12: Tidal Power Market, the US, Technology Potential, MW, 2011 27
Figure 13: Tidal and Wave Energy Market, Canada, Technology Potential (MW) 33
Figure 14: Tidal and Wave Energy, the UK, Technology Potential, TWh/Year 36
Figure 15: Tidal and Wave Energy, Market, Portugal, Technology Potential, TWh/Year 41
Figure 16: Tidal Energy Market, Australia, Kinetic Energy Potential of Tides along the Coast (GWh) 43
Figure 17: Wave Energy Market, Australia, Kinetic Energy Potential of Waves along the Coast (GWh) 44
Figure 18: Tidal Energy Market, Republic of Korea, Technology Potential in Tidal Range, MW 47
Figure 19: Tidal Energy Market, Republic of Korea, Technology Potential of Tidal Stream, MW 48
Figure 20: Wave Energy Market, Republic of Korea, Technology Potential by Location Type, MW 49
Figure 21: Ocean Renewable Power Company, Historical Development 53
Figure 22: Aquamarine Power, Historical Development 57
Figure 23: AWS Ocean Energy, Historical Development 60
Figure 24: Carnegie Wave Energy Limited, Historical Development 62
Figure 25: Marine Current Turbines Limited, Historical Development 65
Figure 26: Ocean Power Technologies, Historical Development 69
Figure 27: Oceanlinx Limited, Historical Development 73
Figure 28: OpenHydro Group Limited, Historical Development 75
Figure 29: Pelamis Wave Power, Historical Development 78
Figure 30: Pulse Tidal, Historical Development 81
Figure 31: Verdant Power, Historical Development 83
Figure 32: Voith Hydro Wavegen Limited, Historical Development 85
Figure 33: BioPower Systems Pty, Historical Development 87
Figure 34: Tidal Generation Limited, Historical Development 90
Figure 35: Wavebob, Historical Development 92
Figure 36: Wello OY, Historical Development 94
Companies mentioned
Ocean Renewable Power Company
Aquamarine Power
AWS Ocean Energy
Carnegie Wave Energy Limited
Marine Current Turbines Limited
Ocean Power Technologies
Oceanlinx Limited
OpenHydro Group Limited
Pelamis Wave Power
Pulse Tidal
Verdant Power
Voith Hydro Wavegen Limited
BioPower Systems Pty
Tidal Generation Limited
Wavebob
Wello OY
