Jul 3 2010
Presently, the market for tidal, wave, hydro power looks promising even as nations are investing in clean energy resources. It is predicted that the global wave resources stand at 6,000 TWh per year, which is twice the amount of worldwide nuclear production and tidal power stands at 700 TWh per year. The potential of the wave industry is around $1 trillion globally.
Frost & Sullivan’s new analysis titled “Hydro, Wave and Tidal Power-Market Penetration and Roadmapping” indicates that ocean technology, both tidal and wave, is more predictable and reliable than any other forms of renewable energies, including solar energy or wind energy. Combined with huge resources throughout the world, in the range between 2,000 TWh and 4,000 TWh per year, ocean energy might hold the key for answering the escalating energy needs of the world. After all, owing to large installation expenses, the deployment of both the tidal and wave technologies may not be easy to achieve initially. In fact, the future of tidal and wave energy depends entirely on fundings from private, public as well as government entities.
Source: http://www.frost.com