DTOceanPlus Report: Potential Markets for Ocean Energy

Image: Havkraft

The report ‘Potential Markets for Ocean Energy’, authored by the DTOceanPlus project, identifies and reviews the prospective market opportunities for wave and tidal energy technologies.

According to the report, the future market for grid power provides the largest opportunity for ocean energy technologies. The report also identifies a wide range of alternative markets:

• Isolated power systems/ islands/ microgrids
• Offshore oil & gas extraction, processing, and decommissioning
• Marine aquaculture and algae
• Coastal resiliency and disaster recovery
• Ocean observation and navigation.
• Unmanned underwater vehicles
• Seawater and seabed mining
• Marine datacentres.

These alternative applications can form a market for some developers or act as a stepping stone to utility-scale market by providing cost reductions.