skip to Main Content
Consenting External Resources Finance Policy Research report

Ocean Energy and Net Zero: An International Roadmap to Develop 300GW of Ocean Energy by 2050

The International Energy Agency’s Technology Collaboration Programme on Ocean Energy Systems (IEA-OES) has unveiled their latest publication, ‘Ocean Energy and Net Zero: An International Roadmap to Develop 300GW of Ocean Energy by 2050.’ This comprehensive roadmap presents a strategic blueprint aimed at propelling the global progress of ocean energy. With COP28 on the horizon, IEA-OES takes proactive steps in sharing this forward-thinking roadmap, offering a promising and sustainable trajectory for the ocean energy sector.

The report emphasises the crucial role of ocean energy in reshaping the global energy landscape. Envisioning a global installed capacity of 300GW by 2050, the ocean energy sector foresees substantial outcomes: an estimated creation of 680,000 job opportunities, a projected contribution of $340 billion in gross value added, and an expected reduction of over 500 million tonnes of carbon emissions. These impressive figures underscore the sector’s potential to fuel socio-economic advancement while combatting the pressing challenges of climate change.

The report puts forward 5 key policy recommendations that will accelerate the commercialisation of ocean energy.

Key findings

1. Market support is the foundation of a comprehensive policy programme

2. Accelerated innovation is key to enabling long-term cost reductions

3. An optimal balance of market support & technology innovation funding must be struck

4. Immediate action on infrastructure development is vital

5. The regulatory and legislative framework should help, not hinder

This is an extract, full report available as PDF download

Download full report
Reports All Reports
Back To Top