The world's largest untapped source of energy
With a staggering global resource, wave energy has the potential to be the largest source of clean energy.
Wave energy technologies capture the movement of ocean and sea waves and use it to create energy – usually electricity. The energy created depends on the speed, height and frequency of the wave, as well as the water density.
The market for wave energy
Estimates of potential production from wave energy vary, but all agree that the size of the prize is significant – varying from 4000TWh/yr (Cruz 2008) to 29500TWh/yr (IPCC 2011). Europe consumes around 3000TWh/year.
Wave energy can provide utility scale power production It also has applications for remote islands such as the Canary or Caribbean Islands replacing expensive and polluting diesel powered production. Furthermore, wave energy can power offshore industries such as fish farms, and oil & gas platforms.
Gearing up for first wave energy farms
Today, the most advanced device developers are now planning and building the first wave energy farms around Europe, most notably in the UK, Portugal and Ireland.
Once built, these pilot farms will serve as a basis for commercialising wave energy technology and building a new European industry.