Worldwide Installed Capacity

The ocean energy sector is continuously growing at a global scale, but at different paces. Tidal currents technologies have been more rapid and are close towards the development and deployment of first arrays, wave energy projects are continuing to pre-commercial demonstration, and the first pilot projects on ocean thermal energy conversion salinity gradient technologies are been developed. Technologies to exploit tidal range power are today the only ones to have reached commercialization stages. Ocean energy technologies are largely at the prototype testing phase (with the exception of tidal range energy technologies). Despite the recent growth of installed capacity, there are many aspects that have to be addressed to bring the technology closed to the market.

"Key actors in the sector – device developers, project developers, component manufacturers, investors and government bodies – need to engage with technologies and with each other over the coming years and there are indications that this is happening in countries with an active role in ocean energy development. ‘..it is worth restating that Ocean Energy development is taking place because there is an urgent need to replace fossil fuel as a source of electricity generation, the oceans contain a massive source of potential energy, and that the development and deployment of the technologies associated with ocean energy, will support and synergise with wider moves to harness and protect ocean resources."

Ocean Energy Discussion Paper (2016), a contribution of the OES to the OECD study “The Future of the Ocean Economy: Exploring the prospects for emerging ocean industries to 2030"