December 18 - Eighty-six MW of wave and tidal current stream capacity will be installed world-wide in the next five years, according to a new survey.
This might be good news for the project forwarders and shipping lines that are active in the renewable energy sector.
The UK is forecast to be the biggest market, accounting for 600f the total capacity, with the USA the second largest market at 11%, followed by Portugal (10%) and Canada (7%), according to the study, published by Douglas-Westwood.
"The past five years have been characterized by small-scale and full-scale deployments from a wide number of technology developers, said Adam Westwood, in charge of renewable energy at Douglas-Westwood.
" The next five years will, however, see commercial-scale activity increasing significantly. A total of 135 units are forecast for deployment over the next five years. Of these, 74 are commercial-scale units - 550f the total."
According to 'The World Wave & Tidal Market Report 2009-2013', the industry faces many challenges, including survivability and reliability, cost reduction, attracting private investment, supply chain stimulation, and development of market mechanisms to support deployment and development activities.
However, Mr Westwood said; "Both the wave power and tidal current stream energy sectors are emerging industries. Whilst development activities run back some 30 years, with over 200 concept technologies, commercialization of leading technologies in both sectors is only just beginning."