Wave power: A new R&D agenda for oceans and energy

As the United Nations prepares to launch its Decade of Ocean Science for Sustainable Development (2021 – 2030), the prospect of sourcing clean energy at scale from the ocean is starting to attract the attention of policy makers, industry and leading research and innovation agencies. Before December, the European Commission will issue a new strategy for offshore renewables, while countries such as Canada and a handful of EU member-states are already investing significantly in the domain of tidal, wave and wind energy.

However, a range of obstacles will need to be overcome before offshore renewables become a mainstream part of future energy mixes. In tidal and wave power, for example, the technological landscape is fragmented, with many promising solutions ‘stuck’ at early- to mid-stage TRL. Relevant infrastructure in coastal areas – including storage and transmission – remains relatively scarce, leading to persistently high unit costs. Meanwhile, public R&D budgets are minor compared to equivalents for onshore technologies, while uncertainties about regulatory frameworks and market establishment (among others) have limited private investment to date.

Against this backdrop, the objectives of this online debate are twofold. First, to explore the current technology pathways which offer the most compelling growth prospects and business opportunities, with a particular focus on tidal and wave energy; and second, to debate a range of policy measures and international cooperation mechanisms which would enable offshore renewables to accelerate and scale, attract inwards investment to new programmes, and remove current barriers to market development. A formal summary of proceedings and recommendations will be published following the online meeting.