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Policy Socio-economic Technology Research report

2030 Ocean Energy Vision

By Donagh Cagney

Ocean Energy Europe’s vision for 2030 sets out the sector’s plans for ambitious deployments, dramatic cost reductions and exciting industrial growth over the coming decade. The document outlines high and low growth scenarios, maps the extensive supply chain and makes recommendations for policy actions. 

3 GW of ocean energy could be deployed worldwide, with costs falling to around €90/MWh for tidal stream and €110/MWh for wave energy, according to a new publication by industry body Ocean Energy Europe. The 2030 Ocean Energy Vision charts an exciting path for ocean energy’s roll-out over the coming decade.

Over 90% of the world’s ocean energy could be installed in Europe over the next decade, reflecting the strong global position that Europe holds in ocean energy. The publication’s supply chain mapping clearly illustrates the industrial and social opportunity that ocean energy represents. Whether it’s cutting steel, designing gearboxes or installing machines in the open sea, wave and tidal farms will harness Europeans’ existing skills and help drive the economic recovery.

Laying the groundwork for a new European renewable sector today will deliver jobs, exports, industrial regeneration throughout the 2030s, and unlock full decarbonisation by 2050.

ETIP Ocean supported the data collection for the report.

This is an extract, full report available as PDF download

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