A Bright Outlook on the Future of Offshore Renewables

Ocean consultant Tony Jones believes that the future for marine renewables is bright which he discusses in this opinion piece,
Offshore Renewable Energy Development , Renewable Energy Access, (12/5/04). With respect to offshore wave, Jones describes the growth of the industry and contends that it will grow even more in the US when regulatory uncertainty is resolved and the US can perform assessments of the resource. With respect to wave energy, Jones concedes that it lags behind offshore wind but is coming along. The problem, however with wave energy is:

Limited financial resources, in many cases, hamper launch of technology as the sector is dominated by small and medium enterprises. However, towards the end of the decade, developers will negotiate and plan larger-scale projects based on proven technology, which are unlikely to see installation after 2010. At that time, wave energy farms could begin to emerge. When devices reach this advanced stage, the prospect capacity will begin to rocket. Over time, the initial high costs of development and research will level out, and individual technologies will become more cost effective. Once a device is established, serial production will result in much lower costs. At this stage, there are several devices that have very promising electricity generation costs forecast that would further benefit their commercial success.

Let's see what 2005 holds for marine renewables.