OES to help ocean energy technologies reach LCOE targets

Ocean Energy Systems (OES) has started the preparation of an International Ocean Energy Technology Roadmap.

The object of the ocean energy technology roadmap initiated in April 2015 is to achieve LCOE targets within the ocean energy sector.

In order for ocean energy technologies to reach LCOE targets the principal focus should be put on reliability and performance improvement of such technologies, according to OES.

Initial estimates of the Levelised Cost Of Energy (LCOE) from ocean energy technologies are high in comparison to other renewable energy alternatives, so the identification and prioritisation of the pathways to ocean energy cost reduction form an essential and necessary step to achieve fully commercial wave, tidal stream and OTEC technologies with competitive LCOE, OES’ press release reads.

Roadmaps present an effective tool in identification of priority focus areas and investments to accelerate the development of ocean energy technologies, which in turn would result in the reduction of LCOE.

“Additionally, roadmaps can facilitate the creation of international frameworks to accelerate the development and adoption of low carbon technologies. Unified international policies are a key step towards a successful marine energy industry and then the creation of an international roadmap is very important to achieve that goal,” OES states in its press release.

The International Ocean Energy Technology Roadmap is a one year project lead by the University of Edinburgh, which involves experts from USA and Singapore, together with the stakeholders.

OES is an intergovernmental collaboration between countries operating under framework established by the International Energy Agency in Paris, and consisting of 20 member countries.

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Image: EMEC/Illustration