Ocean Energy: The largest untapped renewable resource. Global Resource Assessment

Ocean energy could supply 13% of global electricity demand and 21% of EU consumption, according to Ocean Energy Europe’s report “Ocean Energy: The Largest Untapped Renewable Resource”. The first global assessment of wave and tidal resources, it draws on over 70 governmental and academic studies to map the best sites country by country. It confirms that ocean energy can become a major renewable power source alongside wind and solar.

These figures are likely conservative. Many regions have yet to quantify their resources, and improving technology keeps opening up new areas.

In Europe, the UK and France have some of the world’s best tidal sites. Wave energy alone could cover over 100% of electricity demand in Ireland and Portugal, 55% in the UK and over 30% in Spain. Technological progress and new studies have raised Europe’s assessed potential well above earlier estimates, and its technological lead positions it to win a large share of the global market.

Other world regions also have resource potential for ocean energy to play a major role in electricity generation:

• Americas: 36% of electricity demand. The US and Canada have the highest surveyed potential, and Brazil and Chile could meet 20% of demand from wave energy alone. Substantial US public funding could make it a serious challenger to Europe’s lead.
• Asia and Oceania: tidal energy could cover 100% of demand in the Philippines and over 50% in Indonesia. China has made ocean energy a national development priority and funds pilot projects.
• Africa and Small Island Developing States: considerable potential, but most countries have yet to assess their resource.

Click here to see the full report.