“The largest energy storage device on the planet is the Atlantic Ocean,” said Andrew Parrish, Managing Director of Wavebob, one of the most advanced wave energy companies in the world. “The Atlantic is the battery for the planet.”
Ocean energy is expected to put 45 prototypes in the water in 2010 and 2011, according to a new report from Emerging Energy Research (EER). The report predicts ocean energy will go from an annual installation of 50 megawatts per year in 2015 to at least a gigawatt per year after 2026 and could reach a 2030 cumulative installed capacity of seventeen gigawatts.
“If you look at the wave energy sector,” Parrish said, “there are probably two hundred different companies trying to do wave energy.” While “there has been little evidence” of a particular technology’s superiority, Parrish said, “the evidence is converging on a Point Absorber.” The EER report found that Point Absorbers make up more than a third of those currently vended while none of the others constitute as much as a fifth.
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