Ocean Energy Technologies and Components Worldwide

• Publication date: June 2009

Ocean waters cover over 70% of the earth and present significant opportunities for renewable energy systems. Ocean Energy Technologies and Components Worldwide contains comprehensive data on the U.S. and world market for the three primary Ocean Energy Technology systems: Tide Energy, Wave Energy and Ocean Thermal Energy. The report also addresses the emerging potential of Salinity Gradient systems. The report identifies key trends affecting the m...

Ocean waters cover over 70% of the earth and present significant opportunities for renewable energy systems. Ocean Energy Technologies and Components Worldwide contains comprehensive data on the U.S. and world market for the three primary Ocean Energy Technology systems: Tide Energy, Wave Energy and Ocean Thermal Energy. The report also addresses the emerging potential of Salinity Gradient systems. The report identifies key trends affecting the marketplace, along with trends driving growth, and also profiles major domestic and global marketers and geographic hot spots for ocean energy technology implementation.



This study presents a comprehensive overview of the growing market for ocean energy technologies in the United States and throughout the world. Falling within the parameters of this study are all ocean energy technology systems and products. This study includes both public and privately funded systems that are in development or have already been installed. This study also includes emerging systems that are in the early development stages.



Global energy consumption amounts to over 17,400 Terawatt hours per year, with United States’ use alone accounting for approximately11,200 Terawatt hours per year. Ocean energy technology has the potential to generate over 93,100 terawatt hours/year with the two most viable options being wave technology and thermal gradient technology. Wave Energy technology alone has the potential to produce up to 80,000 TWH/year, while OTEC could produce up to 10,000 TWH/year. Salinity Gradient technology, still an emerging science, has the potential to produce 2000 TWH/year. Given the Obama administration’s commitment to green technology and renewable energy alternatives, the outlook for 2009-2010 is very positive for increased investment in both domestic and global ocean energy developments.



In September 2008, New York City installed the first Tidal-Power Turbine system in the United States. As part of a plan for New York to generate up to 80% of the city’s power from renewable energy sources, the completed Tidal-Power Plant is expected to provide power for up to 10,000 households. New York’s Tidal-Power program shows how ocean energy technology is quickly catching up to the more familiar renewable wind and solar power sources.



In Aguçadoura, Portugal, the successful installation of the world’s first multi-unit wave farm will generate 2.5 MW, enough to power 1500 homes. The wave tidal energy market alone could be worth over $280 billion per year. In Hawaii, Taiwan Industrial Technology has entered into collaboration with Lockheed Martin to develop a 10MW Ocean Thermal Energy Conversion (OTEC) pilot plant.



Within the United States, Maine and Alaska offer the best conditions for tidal power plants, while Hawaii and the Atlantic coast have the tropical conditions required for Ocean Thermal Energy Conversion. Recent tests along northern California’s Redwood Coast indicate that the west coast could be an ideal area for testing wave energy systems. While the U.S. is among the global leaders in Ocean Wave and Tidal Current developments, the U.K. dominates the field as of 2008. India and Japan are the global leaders in Ocean Thermal Energy Conversion, while Mexico and Norway are among the initial investors in Salinity Gradient systems.



Report Methodology



The information in Ocean Energy Technologies and Components Worldwide is based on primary and secondary data from the U.S. Energy Information Administration, the European Ocean Energy Association, the International Energy Agency and the Sustainable Energy Coalition, along with information from trade associations such as the Ocean Renewable Energy Coalition and business journals, company literature and websites, and research services such as Simmons Market Research Bureau.



What You’ll Get in This Report



Ocean Energy Technologies and Components Worldwide makes important predictions and recommendations regarding the future of this market, and pinpoints ways current and prospective players can capitalize on current trends and spearhead new ones. No other market research report provides both the comprehensive analysis and extensive data that Ocean Energy Technologies and Components Worldwide offers. Plus, you’ll benefit from extensive data, presented in easy-to-read and practical charts, tables and graphs.



How You’ll Benefit from This Report



If your company is already doing business in the Ocean Energy Technology market, or is considering taking the plunge, you will find this report invaluable as it provides a comprehensive package of information and insight not offered in any other single source. You will gain a thorough understanding of the current market for four types of ocean energy technology, as well as projected markets and trends through 2013.



This report will help:



* Entrepreneurs and Investors identify market opportunities and gain a better understanding of which types of areas benefit most from ocean energy technology.



* Research and development professionals stay on top of competitor initiatives and explore demand for ocean energy technology.



* Green Marketing and Advertising agencies working with clients in the green energy market understand the potential impact of ocean energy technology and the advantages for coastal cities.



* Business development executives understand the dynamics of the ocean energy technology market and identify possible private and government partnerships.



* Information and research center librarians provide market researchers, brand and product managers and other colleagues with the vital information they need to do their jobs more effectively.

Renewable Energy Industry in the United States

Chapter 1: Executive Summary
Introduction
Scope of Study: All Ocean Energy Technologies and Products

Sources

Research Methodology

Study Focus Primarily Tidal, Wave, and Thermal

Tidal Energy Generators

Underwater Turbines
Hydrokinetic Power Generation

Wave Power Generators

Point Absorbers
Attenuators
Terminator Devices
Overtopping devices

Ocean Thermal Energy

Closed Cycle OTEC
Open Cycle OTEC
Desalination
Refrigeration fluid

The Ocean Energy Technology Market

Figure 1-1: Total Global OET Projects in Development, 2000-2008

Ocean Energy Investments

Figure 1-2: Global Investments in Ocean Energy, 2004-2008 (in million $)
Growth in World Wave-Energy Market
Figure 1-3: World Wave Energy Projects and Values, 1998-2009
Ocean Energy Production in the Years Ahead
Figure 1-4: Projected Growth in Ocean Energy Generated, 2009-2013

U.S. Tidal Energy Market

Pending US Tidal Projects 2008

U.S. Wave Energy Market

Only One Company Takes Advantage of FERC Decision

U. S. Annual Ocean Thermal Energy Projects

Positive Factors in Future Growth
External Factors Favoring Growth

Internal Factors Favoring Growth

Environmental Impact Concerns
Legal/Regulatory Issues
FERC and MMS Reach New Agreement on Outer Continental Shelf
Potential Growth in U.S. Ocean Energy Power Output
Figure 1-5: Potential Growth in U.S. Ocean Energy Generated, 2009-2013

Ocean Energy Technology Competitors

Types and Sizes Companies
Most Development Driven by Local Marine Conditions

Competitors by Product Category/Segment
Competitors: Attenuator Energy Competitors

Table 1-1: Selected List of U.S./Global Attenuator Competitors

Competitors: Horizontal Axis Turbines

Table 1-2: Selected List of U.S./Global Tidal (Wave) Energy Market Competitors

Competitors: Overtopping Devices

Table 1-3: Selected List of Overtopping Device Companies

Ocean Energy Technology Market Trends

Foreign Dominance of Research and Development
Scotland, Ireland and the UK
Table 1-4: UK Renewable Obligation Time Table (percent)
Australia
Portugal
Horizontal and Vertical Integration
Stock Market Trends
Table 1-5: OET Companies Trading on Public Stock Markets: By Exchange and Stock Symbol
Ocean Energy Trends in the United States
Figure 1-6: U.S. Energy Consumption, 2007 (percent)

Financing Trends

Emerging Financing Models
Federal Government Trends

State Trends

California
Florida
State Rebate Programs
Table 1-6: Coastal State Renewable Portfolio Standards (percent)

Distribution Structure

Geographic Limitations
Where is the power in the waves?
Where is the Power in the Tides?
Ocean Thermal Energy Conversion Still Catching On
Socioeconomic Considerations
Growth through Established Renewable Energy Market

Chapter 2: Ocean Energy Technology Systems/Products
Introduction: Market Parameters
Scope of Study: All Ocean Energy Technology Systems

Not Included: Other Renewable Energy (RE) Sources
Not Included (With Qualifications): Nonrenewable Energy (NRE) Sources
Note on Abbreviations

Tide Energy Systems

Overview
Hydrokinetic Power Generation
Potential Energy (gravity-based)
Estuary Systems
Barrage components
Turbines
Impact on Local Ecosystems

Wave (Marine) Current Systems

Overview
Point Absorbers
Attenuators
Terminator Devices
Overtopping Devices
Pneumatic Power
Mechanical Power

Ocean Thermal Energy Conversion (OTEC) or Ocean Thermal Energy (OTC)

Closed Cycle OTEC
Open Cycle OTEC
Hybrid Cycle OTEC
Benefits of OTEC
Floating Structure
Pipes
Desalination and Potable Water
Refrigeration Fluid
Electric Cable to Shore
Boiler
Condenser
Hydrogen Production
Environmental Impact
Benefits to Island Nations and Communities

Salinity Gradient

Overview
Fresh Water/Seawater Mix
Osmotic Power Potential
Pressure-retarded Osmosis
Prototypes in Place

Chapter 3: The Ocean Energy Technology Market
U.S. Ocean Energy Technology Market in a Global Context

Overview

Ocean Energy Investments

Figure 3-1: Global Investments in Ocean Energy, 2004-2008 (in million $)
Growth in World Wave-Energy Market
Figure 3-2: World Wave Energy Projects and Values, 1998-2009
Growth in World Tidal/Current-Energy Market
Figure 3-3: World Tidal Energy Projects and Values, 2001-2009
World Ocean Energy Technology Projects
Figure 3-4: Total Global OET Projects in Development, 2000-2008
Costs of Setting up an Ocean Energy Power Converter
Leading Global Wave Energy Companies
Table 3-1: World Wave Energy Companies with Full-Scale Prototypes
World Leaders in Tidal Energy Development
Table 3-2: World Tidal Energy Companies with Full-Scale Prototypes
Ocean Energy Production in the Years Ahead
Figure 3-5: Projected Growth in Ocean Energy Generated, 2009-2013
Projected Growth World Growth in Ocean Energy Projects
Figure 3-6: Global Ocean Energy Technology Projects Nearing Final Stages of Development, 2009
Potential Market Value from 2009-2013
UK Ocean Energy Technology Companies to Watch
Table 3-3: U.K. Companies with OET Projects in Early Development

The U.S. Ocean Energy Technology Market

Overview
FERC and MMS Reach New Agreement on Outer Continental Shelf
Commercially Available Ocean Energy Technology
Hydropower - Industry Activities

U.S. Tidal Energy Market
Table 3-4: Issued and Valid Hydrokinetic Projects Preliminary Permits 2007

Geographic Locations
Pending US Tidal Projects 2008
Table 3-5: Pending Hydrokinetic Tidal Current Projects Preliminary Permits
Power Capacity of Full-Scale Tidal Current Prototypes
Table 3-6: Power Capacity of Full-Scale Tidal Current Prototypes
Potential Growth in U.S. Ocean Energy Power Output
Figure 3-7: Potential Growth in U.S. Ocean Energy Generated, 2009-2013
Estimated Price per Watt/Installed/Projected

U.S. Wave Energy Market

Table 3-7: Geographic Locations and Potential Wave Energy Output
Table 3-8: Issued and Valid Hydrokinetic Wave Projects Preliminary Permits, 2008
Only One Company Takes Advantage of FERC Decision
Table 3-9: Pending Hydrokinetic Wave Energy Projects Preliminary Permits
Full-Scale Wave Energy Prototypes
Table 3-10: Power Capacity of Full-Scale Tidal Current Prototypes
Price per Watt/Installed/Projected

U. S. Annual Ocean Thermal Energy Projects

Figure 3-8: Potential Markets for Ocean Thermal Energy Projects
U.S. Ocean Thermal Energy Projects

U.S. Salinity Gradient Projects

Still too new for the United States

OET State Support
U.S. Ocean Energy Technology Market: Sales and Growth

Figure 3-9: US Wave Energy Potential
U.S. Wave-Energy Market Growth from 2001-2008
Figure 3-10: Number of U.S. Wave Energy Projects, 1998-2008
U.S. Tidal-Energy Market Growth 2001-2008
Figure 3-11: Number of U.S. Tidal Energy Projects, 1997-2008

Factors in Future Growth
Positive Factors in Growth

Overview
The Obama Recovery Plan
External Factors Favoring Growth
Table 3-11: Coastal States with RPS Requirements
The Economy: Supplies
Ecology: Climate Change
Private Sector Investment
Public Sector Support

Internal Factors Favoring Growth

Environmental Impact Concerns
Legal/Regulatory Issues
Utility Obstacles (Integration into Existing Grids)
Geographic Obstacles
Recession
Impact on commercial and recreation fishing sites
Marine transit routes
Surfing and coastal recreation

Chapter 4: The Competitors
Overview
Competitive Context

At What Cost?
Public/Private Interaction
Young Formation
External Market Factors Integral to Market Structure

Ocean Energy Trade Associations

European Ocean Energy Association (EU-OEA)
International Energy Agency - Implementing Agreement on Ocean Energy Systems (IEA-OES)
Table 4-1: List of 2008 IEA-OES Members
Ocean Renewable Energy Coalition (OREC)
Table 4-2: List of 2008 Ocean Renewable Energy Coalition Members
Table 4-3: OREC Strategic Partners

Ocean Energy Technology Competitors

Types and Sizes
Most Development is Driven by Local Marine Conditions

Competitors by Product Category/Segment
Competitors: Attenuator Energy Competitors

Table 4-4: Selected List of U.S./Global Attenuator Competitors

Competitors: Horizontal Axis Turbines

Table 4-5: Selected List of U.S./Global Tidal (Wave) Energy Market Competitors

Competitors: Oscillating Hydrofoil

Table 4-6: Selected List of Oscillating Hydrofoil Companies

Competitors: Overtopping Devices

Table 4-7: Selected List of Overtopping Device Companies

Competitors: Ocean Thermal Energy

Table 4-8: Selected List of U.S./Global Ocean Thermal Energy Competitors

Competitors: Point Absorber Companies

Table 4-9: Selected List of Point Absorber Companies

Competitors: Vertical Axis Turbine

Table 4-10: Selected List of Vertical Axis Turbine Companies

Competitors: Salinity Gradient Energy
Competitive Profiles
Introduction
Pelamis Wave Power Ltd.
Corporate Background
Product and Brand Portfolio
Performance
Company News

Growth
Outlook
Personnel Changes
Affect of Recession in 2008 and into 2009

Marine Current Turbines Ltd.
Corporate Background
Product and Brand Portfolio
Company News

Projects in Development
Looking for Investors

OCEES International, Inc.
Corporate Background
Projects in Development
Strategic Partners
Grays Harbor Ocean Energy Company
Corporate Background
Product and Brand Portfolio
The Oscillating Water Column Technology
Company News

Innovation
Outlook
Collaborations

Finavera Renewables
Corporate Background
The AquaBuOY
Company News

Acquisition of AquaEnergy Group, Ltd.
AquaBuOY 2.0
Humboldt County, California
Coos Bay, Oregon
Makah Bay, Washington State, USA
Innovation
Outlook

Chapter 5: Ocean Energy Technology Market Trends
Competitive Trends

Globalization of U.S. Ocean Energy Technology Market
Foreign Dominance of Research and Development
Scotland, Ireland and the UK
Table 5-1: Scotland Marine Energy Programme Distribution
Table 5-2: UK Renewable Obligation Time Table (percent)
Australia
Table 5-3: Proposed Australian Renewable Energy Fund, 2009
Table 5-4: Oceanlinx’s Funding Sources, 1999-2009
Israel
Table 5-5: S.D.E. Orders 2005-2008
Portugal
Table 5-6: Ocean Energy Projects in Portugal
Canada
Table 5-7: Wave-energy Projects in Canada
Table 5-8: Tidal-energy Projects in Canada
UK Technology at Work in Canada
Building the Marine Technology Network in British Columbia
China
Japan
Ocean Energy Trends in the United States
Figure 5-1: U. S. Energy Consumption, 2007

Competing with Fossil Fuels and other Renewables

Table 5-9: Use Energy Consumption by Energy Source, 2003-2007
Horizontal and Vertical Integration
Government and State Support

Investment Trends

Investor Trends in 2007
Table 5-10: Ocean Energy Investments, 2007
Investor Trends in 2008
Table 5-11: Ocean Energy Investments, 2008
Stock Market Trends
Table 5-12: OET Companies Trading on Public Stock Markets: By Exchange and Stock Symbol

Financing Trends

Financing Is Fundamental
Emerging Financing Models
New OET Financiers
Cautionary Note
Subsidies

U.S. Federal and State Trends

Federal Government Trend
California Trends
Florida Trends
State Rebate Programs
Table 5-13: Coastal State Renewable Portfolio Standards (percent)

Chapter 6: Market Distribution

Distribution Structure
Geographic Limitations
Where is the power in the waves?
Table 6-1: Global Distribution of Wave Energy Manufacturers (percent)
Where is the Power in the Tides?
Figure 6-1: Global Distribution of Tidal Energy Companies (percent)
Ocean Thermal Energy Conversion Still Catching On
Socioeconomic Considerations
Overview: Theme and Variations
Table 6-2: Ocean Energy Companies in Agreement with Utilities

Distribution and Distributors

Growth through Established Renewable Energy Market
Growth through Power Collaboration with Industry Leaders
Growth through Memorandum of Understanding
A Unique Investment in Ocean Energy

Getting the Word Out About Ocean Energy Technology

Distribution, Direct-Sales Retailers, and the End-User