OES Releases New Report on Ocean Energy Policies

By means of this report, the OES intends to emphasize the range of policy and funding initiatives to promote and accelerate the uptake of ocean energy that its member governments and related organizations have implemented.

Information in the report came from each Delegate of the OES Executive Committee. Its aim is to provide an insight into the diverse ocean energy policies across several countries, focusing on recent developments.

This report focuses on the 21 countries members of the International Energy Agency’s (IEA) Implementing Agreement on Ocean Energy Systems (OES): Portugal, Denmark, United Kingdom, Japan, Ireland, Canada, the United States of America, Belgium, Germany, Norway, Mexico, Spain, Italy, New Zealand, Sweden, Australia, Republic of Korea, South Africa, China, Nigeria and Monaco, ordered by sequence of joining the Agreement.

Information on policies which support and impact on ocean energy development were obtained from the OES member delegates.

Ocean energy technologies are largely at the prototype testing phase. Despite the recent growth of installed capacity, the long-term reliability of ocean energy projects is yet to be demonstrated (with exception of tidal range energy technologies). Recently, larger companies such as utilities and manufacturers have become increasingly involved in device development.

IEA member countries are faced with the challenge of achieving energy security, environmental protection and economic competitiveness. Ocean energy could contribute to these objectives in the medium to long term, provided that policies which establish support mechanisms to stimulate market deployment and further offer RD&D funding are implemented by their governments.

Currently, several OES member countries offer support for ocean energy RD&D through a range of energy policies.

Press release, April 1, 2014; Image: OES