The European Commission Embraces Ocean Energy as an Innovative Renewable Source
The European Commission has taken a significant step towards promoting ocean energy as a key player in the renewable energy sector. In a recent announcement, the Commission included ocean energy technologies in the 5% innovation target set by the EU Renewable Energy Directive. This move highlights the importance of harnessing the power of the sea to meet Europe’s renewable energy goals.
The Potential of Ocean Energy
Ocean energy technologies, including tidal, wave, thermal, and salinity-based systems, have the potential to generate renewable electricity from the vast resources of the ocean. Europe is a global leader in the development and installation of these technologies, with the sector poised to meet 10% of the continent’s electricity demand by 2050. Additionally, it could support 400,000 jobs, 100 GW of firm renewable power, and offer significant global export potential.
System-Level Benefits
The European Commission’s guidance recognizes the system-level benefits of ocean energy. Wave energy, for example, can continue to generate power even when wind output decreases, providing a reliable source of electricity. Tidal energy is highly predictable, contributing to grid stability and potentially lowering overall system costs.
Unlocking the Potential
To unleash the full potential of ocean energy, the European Commission recommends the implementation of revenue support policies targeted at scaling up innovative renewables. Instruments such as feed-in tariffs and contracts for difference (CfDs) have already proven successful in commercializing wind and solar energy. The UK, for example, has awarded over 120 MW of tidal capacity through CfD auctions dedicated to tidal projects.
Building a New Industry
Remi Gruet, CEO of Ocean Energy Europe, emphasized the readiness of the ocean energy sector to help member states meet the 5% innovative renewables target by 2030. Gruet highlighted the importance of launching CfDs for wave energy projects in countries with rich wave resources like Ireland, Portugal, France, and Spain. The next five years present an opportunity to build a new industry in Europe and enhance the continent’s energy security.
With the European Commission’s support and a concerted effort from member states, ocean energy could play a significant role in Europe’s transition to a more sustainable and renewable energy future.