Ocean energy: Delivering cheaper, cleaner & more secure electricity systems

This booklet highlights the findings of the EVOLVE project and other scientific studies quantifying the systems benefits of wave and tidal energy in Ireland, Portugal, the UK, and the Faroe Islands.

The data shows that even modest wave or tidal deployments of 1 GW in each of three European countries can save billions in dispatch costs after a few years. These massive cost savings are caused by an up to 16% reduction in costly fossil fuel dispatch. As tidal has an extremely predictable generation profile and wave complements other variable renewables throughout the day and the year, ocean energy replaces thermal back up generation.

These findings reveal how supporting the industrial roll-out of ocean energy through grant funding and revenue support can deliver cheaper, cleaner, and more secure electricity systems in Europe.