In 2024, the forecasted investment in tidal energy research, development, and demonstration (RD&D) in Canada stands at $2.45 million USD. This marks a continuation from the 2023 value, although exact data from 2023 is not provided. The investments show a gradual increase from 2024 through 2028, with an incremental rise each year: from $2.48 million in 2025, to $2.52 million in 2026, reaching $2.58 million by 2028. Over these five years, the compound annual growth rate (CAGR) suggests modest but steady interest and expansion in tidal energy RD&D.
Future trends to watch for:
- Technological advancements enhancing tidal energy efficiency.
- Government policy and funding increases in renewable energy sources.
- Private sector investment and collaboration in tidal energy projects.
- Emerging competitive or alternative marine renewable technologies.
