The global marine energy industry is
at an exciting and critical stage in its development. After a period of intense
development, the leading technologies are now moving rapidly to deploy full
scale demonstration and early commercial projects. The industry must now focus
on the challenge of commercialization.
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The ocean energy industry has a
number of technologies and concepts. The diversity in the industry is having an
unintended impact on the development of the supply chain which could play a
significant role in the development of the ocean energy sector and also help in
reduction of costs and the commercialization of various concepts.
Hydro power is the maximum power
generator followed by wind power, biomass and geothermal power. The trend is
expected to continue and solar power will also become one of the major power
generators in future. Ocean energy is a source which doesn’t depend on the
uncertainties associated with the fossil fuels (availability and volatility).
Therefore ocean energy is an important source of energy. The ocean energy
industry is in a nascent stage and can only provide small contributions to the
energy portfolio. The real potential of the ocean energy is yet to be realized
and will take time to develop.
Marine current power is a form of
power based on harnessing the kinetic energy of marine currents. It includes
both tidal power and energy derived from ocean currents. Although not widely
used at present, marine current power has important potential in the future of
electricity generation. The industry must prove that the technology works at a
commercial scale in a challenging environment. It must also prove that the
technology can be cost competitive with other forms of energy generation.
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