Market pull – Revenue support for ocean energy

Image: Mike Brookes-Roper, courtesy of EMEC

Speakers:

Niamh Kenny, DP Energy
Shelley MacDougall, Acadia University

Revenue support schemes have proved extremely successful at driving innovation, lowering costs and creating markets for renewable energy technologies. By incentivising production, revenue support can make the business case for the best performing technologies stack up. It drives investment by reducing risk. It is a critical step for ocean energy on the road to industrialisation.

During the webinar, Niamh Kenny explained the clear rationale for revenue supports for emerging technology like marine renewables, based on historical trends and requirements for current projects. Shelley MacDougall presented Nova Scotia’s support scheme.