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The earth’s largest water source, the ocean that covers three-quarters of the planet, has yet to be tapped in any major way for electricity generation.  However, dozens of technology companies and project developers are now striving to change that, working to make hydrokinetic power the next hot renewable energy sector.

More than 300 projects are currently in the pipeline around the world, and a new report from Pike Research, “Hydrokinetic and Ocean Energy”, forecasts that this nascent industry will grow to provide 2.7 gigawatts of power generation capacity by 2015, up from just 264 megawatts in 2008.  But the future of ocean energy beyond this initial phase is highly uncertain.  If the sector really takes off, Pike Research estimates it has the potential to provide up to 200 gigawatts of generation capacity by 2025.  But if key challenges are not faced successfully, marine renewable power could be relegated to niche status.

“The next five years will be ‘make or break’ for the ocean energy business,” says industry analyst Peter Asmus.  “Each of the five major marine energy technologies remains unproven beyond small pilot projects.  Other challenges include regulatory uncertainty, shortage of capital for project development, and lingering environmental concerns.”

During this formative period for the industry, adds Asmus, some of the key players to watch are:  Aquantis, Marine Current Turbines, Ocean Power Technologies, Ocean Renewable Power Company, Oceanlinx, OpenHydro, Pelamis Wave Power, and Verdant Power.

This Pike Research report reviews five main types of marine and hydrokinetic technologies:  ocean wave, tidal stream, river hydrokinetic, ocean current and ocean thermal resources.  On the verge of widespread commercialization, with the UK, US, and Canada in the lead, this suite of marine renewable resources is poised for major growth over the next five years, and could collectively capture as much as 10 or even 15 percent of the global electricity market by 2030.  Readers will learn about the market leaders in each marine renewable segment, and the make-or-break issues facing more than 100 companies seeking to gain competitive advantage in the world’s hottest new renewable energy sector.

In addition to analyzing the suitable applications and viability of each of the five technologies, the report examines market conditions for ocean and river hydrokinetic energy around the world, including key drivers of industry development as well as regulatory issues and government incentives and subsidies.  Implementation issues and challenges are also analyzed, including technology standardization issues, site permitting, grid interconnection, and power transmission and distribution issues.  Detailed market forecasts for each of the five technologies are provided for each major region of the world, and key industry players are profiled including an assessment of their relative strengths and weaknesses within the market.

Report Title: Hydrokinetic and Ocean Energy
Published: 1st June 2009
# Pages: 100
# Tables: Charts, Figures: 81
Price: $3,500