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Ocean waters cover over 70% of the earth and present significant opportunities for renewable energy systems. Ocean Energy Technologies and Components Worldwide contains comprehensive data on the U.S. and world market for the three primary Ocean Energy Technology systems: Tide Energy, Wave Energy and Ocean Thermal Energy. The report also addresses the emerging potential of Salinity Gradient systems. The report identifies key trends affecting the marketplace, along with trends driving growth, and also profiles major domestic and global marketers and geographic hot spots for ocean energy technology implementation.
This SBI study presents a comprehensive overview of the growing market for ocean energy technologies in the United States and throughout the world. Falling within the parameters of this study are all ocean energy technology systems and products. This study includes both public and privately funded systems that are in development or have already been installed. This study also includes emerging systems that are in the early development stages.
Global energy consumption amounts to over 17,400 Terawatt hours per year, with United States’ use alone accounting for approximately11,200 Terawatt hours per year. Ocean energy technology has the potential to generate over 93,100 terawatt hours/year with the two most viable options being wave technology and thermal gradient technology. Wave Energy technology alone has the potential to produce up to 80,000 TWH/year, while OTEC could produce up to 10,000 TWH/year. Salinity Gradient technology, still an emerging science, has the potential to produce 2000 TWH/year. Given the Obama administration’s commitment to green technology and renewable energy alternatives, the outlook for 2009-2010 is very positive for increased investment in both domestic and global ocean energy developments.
In September 2008, New York City installed the first Tidal-Power Turbine system in the United States. As part of a plan for New York to generate up to 80% of the city’s power from renewable energy sources, the completed Tidal-Power Plant is expected to provide power for up to 10,000 households. New York’s Tidal-Power program shows how ocean energy technology is quickly catching up to the more familiar renewable wind and solar power sources.
In Agu?doura, Portugal, the successful installation of the world’s first multi-unit wave farm will generate 2.5 MW, enough to power 1500 homes. The wave tidal energy market alone could be worth over $280 billion per year. In Hawaii, Taiwan Industrial Technology has entered into collaboration with Lockheed Martin to develop a 10MW Ocean Thermal Energy Conversion (OTEC) pilot plant.
Within the United States, Maine and Alaska offer the best conditions for tidal power plants, while Hawaii and the Atlantic coast have the tropical conditions required for Ocean Thermal Energy Conversion. Recent tests along northern California’s Redwood Coast indicate that the west coast could be an ideal area for testing wave energy systems. While the U.S. is among the global leaders in Ocean Wave and Tidal Current developments, the U.K. dominates the field as of 2008. India and Japan are the global leaders in Ocean Thermal Energy Conversion, while Mexico and Norway are among the initial investors in Salinity Gradient systems.
Report Methodology
The information in Ocean Energy Technologies and Components Worldwide is based on primary and secondary data from the U.S. Energy Information Administration, the European Ocean Energy Association, the International Energy Agency and the Sustainable Energy Coalition, along with information from trade associations such as the Ocean Renewable Energy Coalition and business journals, company literature and websites, and research services such as Simmons Market Research Bureau.
What You’ll Get in This Report
Ocean Energy Technologies and Components Worldwide makes important predictions and recommendations regarding the future of this market, and pinpoints ways current and prospective players can capitalize on current trends and spearhead new ones. No other market research report provides both the comprehensive analysis and extensive data that Ocean Energy Technologies and Components Worldwide offers. Plus, you’ll benefit from extensive data, presented in easy-to-read and practical charts, tables and graphs.
How You’ll Benefit from This Report
If your company is already doing business in the Ocean Energy Technology market, or is considering taking the plunge, you will find this report invaluable as it provides a comprehensive package of information and insight not offered in any other single source. You will gain a thorough understanding of the current market for four types of ocean energy technology, as well as projected markets and trends through 2013.
This report will help:
- Entrepreneurs and Investors identify market opportunities and gain a better understanding of which types of areas benefit most from ocean energy technology.
- Research and development professionals stay on top of competitor initiatives and explore demand for ocean energy technology.
- Green Marketing and Advertising agencies working with clients in the green energy market understand the potential impact of ocean energy technology and the advantages for coastal cities.
- Business development executives understand the dynamics of the ocean energy technology market and identify possible private and government partnerships.
- Information and research center librarians provide market researchers, brand and product managers and other colleagues with the vital information they need to do their jobs more effectively.
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