OceanSET 2nd Annual Report
The 2nd Annual Report produced by the OceanSET project provides an overview of progress in the ocean energy sector in 2019. Mapping the sector's progress will support the realisation of the SET Plan Implementation Plan for Ocean Energy.
Key findings include:
- 9 Member States have an ocean energy policy.
- Ocean Energy received €42.7M funding from Member States.
- 127 ocean energy projects were funded, nearly 60% of which concern wave energy devices.
- 25 ocean energy projects were identified as TRL 7 or above.
- Test sites enabling demonstration can be found in almost all of the Member States.
- The supply chain in most Member States is considered self-sufficient or well complemented.
An increase in the number of active projects was observed in 2019. Investment committed to projects was almost at, or exceeding, the level of investment envisaged in the Implementation Plan.
An urgent need still remains to reduce the time for permitting and consenting in order to develop a competitive ocean energy industry in Europe.
Further work is also required in every Member State to better understand the current supply chain, the requirements of the ocean energy sector, and the necessary actions to close that gap.