Watts in the water: advances in blue energy
Europe is the world-leader in ocean energy development. New projects and recent technological advances have brought the sector to the cusp of commercialisation. By 2050, ocean energy has the potential to deploy 100GW of generating capacity – enough to meet 10% of Europe’s electricity demand.
Europe needs second-generation renewables like ocean energy. It is predictable, stable and will add significant value to Europe’s electricity grids by reducing balancing costs and helping to integrate larger amounts of wind and solar energy. Ocean energy is a key part of the EU’s Blue Growth Strategy for a reason: it can provide jobs, create growth, and re-industrialise Europe’s maritime regions. The EU strongly supports ocean energy development, providing both crucial funding and opportunities for cooperation via its projects and networks.
This session will showcase the latest achievements of Europe’s flagship wave and tidal projects, and debate the way forward for this expanding industry.
The session will open with a first glimpse of the findings of the European Commission’s Market Study on Ocean Energy. Building on the recommendations of the Ocean Energy Strategic Roadmap, this Study analyses the sector’s future investment needs, identifies potential funding gaps and will present possible financial solutions.
Leading technology developers will then report on their most recent successes, outline future plans for their technologies and discuss where ocean energy sits in the EU’s energy policy debate.
A panel discussion will address the pivotal question: what is still needed to build a fully-fledged ocean energy industry in Europe? What does the ideal policy landscape look like, where will the finance come from and how can Europe best maintain its position as a world technology leader?