Ocean Energy Stats & Trends 2024

Image: Minesto

The annual key trends and statistics publication from Ocean Energy Europe presents the latest state-of-play in Europe and worldwide.

Key highlights from the executive summary:

• 165 MW publicly funded pipeline: Across 15 ocean energy farms, supported by grants and Contracts for Difference/feed-in tariff schemes, scheduled for deployment over the next five years.

• 106 GWh cumulative electricity production in Europe in 2024, demonstrating reliability and technological progress.

• 5 developers deployed new devices in 2024 (3 tidal and 2 wave) across five countries, showing regional and technological diversity.

• €60m private investments publicly announced since 2023, reflecting growing investor confidence.

• $141m US public support in 2024, the highest annual budget to date, highlighting strong international commitment.

This pipeline and the build-out of ocean energy projects will significantly reduce costs and pave the way for large-scale industrial deployment.

Download the full report: Ocean-Energy-Stats-Trends-2024