Ocean Energy and Net Zero: An International Roadmap to Develop 300GW of Ocean Energy by 2050

The International Energy Agency’s Technology Collaboration Programme on Ocean Energy Systems (IEA-OES) has unveiled their latest publication, ‘Ocean Energy and Net Zero: An International Roadmap to Develop 300GW of Ocean Energy by 2050.’ This comprehensive roadmap presents a strategic blueprint aimed at propelling the global progress of ocean energy. With COP28 on the horizon, IEA-OES takes proactive steps in sharing this forward-thinking roadmap, offering a promising and sustainable trajectory for the ocean energy sector.

The report emphasises the crucial role of ocean energy in reshaping the global energy landscape. Envisioning a global installed capacity of 300GW by 2050, the ocean energy sector foresees substantial outcomes: an estimated creation of 680,000 job opportunities, a projected contribution of $340 billion in gross value added, and an expected reduction of over 500 million tonnes of carbon emissions. These impressive figures underscore the sector’s potential to fuel socio-economic advancement while combatting the pressing challenges of climate change.

The report puts forward 5 key policy recommendations that will accelerate the commercialisation of ocean energy.