Introducing wave energy into the renewable energy marketplace

The energy sector in Europe is going through a dynamic evolution that sees the introduction and development of renewable energy and the re-emergence of a wave energy industry. Although wave energy is currently not economically competitive with mature technologies such as wind energy, the wave energy world-wide resource of 2 TW has a potential contribution in the electricity market of 2000TWh/year. Denmark, Ireland, Portugal, Norway and the UK have been analysed in terms of wave energy resources, renewable energy market structure and political and economic support for the introduction of wave energy into the marketplace. The results have been used together with Ocean Power Delivery Ltd to develop an initial market survey for the wave energy converter Pelamis. (au)