“Utilization of wave energy will contribute to the world´s future sustainable energy supply. It can provide electricity, drinking water and other products at competitive prices, creating jobs and reducing dependence on fossil fuels. It will reduce the world energy sector´s carbon emission, whilst minimising impacts on marine environments” [Ocean Energy Systems, 2012]
- The worldwide theoretical potential of wave power has been calculated as 29500 TWh/y (compared to our current electricity demand of 17500 TWh/y).
- In Europe alone wave energy can provide for 15% of the electricity demand.
- By 2050 ocean energy will have grown to 337 GW of installed wave and tidal energy capacity.
- By 2050 ocean energy can provide investments up to 61.8 billion USD.
- By 2050 ocean energy will have created 1.2 million direct jobs and saved nearly 1.0 billion tonnes of CO2 emissions.
- Ever since the first patent on wave energy was published in 1799, great number of ideas to harness the energy in the waves have been conceived; however, only few of them have succeeded to be tested in the sea.
- The European Commission provided 17.3 MEUR for 9 technology development projects in its FP6 programme, and 12 MEUR for 3 demonstration projects in the FP7.
Continue reading… Introduction to wave energy