Ocean Energy Technologies and Components Worldwide

Published by: SBI

Published: Jun. 1, 2009 - 147 Pages

Table of Contents

Chapter 1: Executive Summary

Introduction

Scope of Study: All Ocean Energy Technologies and Products

Sources

Research Methodology

Study Focus Primarily Tidal, Wave, and Thermal

Tidal Energy Generators

Underwater Turbines

Hydrokinetic Power Generation

Wave Power Generators

Point Absorbers

Attenuators

Terminator Devices

Overtopping devices

Ocean Thermal Energy

Closed Cycle OTEC

Open Cycle OTEC

Desalination

Refrigeration fluid

The Ocean Energy Technology Market

Figure 1-1: Total Global OET Projects in Development, 2000-2008

Ocean Energy Investments

Figure 1-2: Global Investments in Ocean Energy, 2004-2008 (in million $)

Growth in World Wave-Energy Market

Figure 1-3: World Wave Energy Projects and Values, 1998-2009

Ocean Energy Production in the Years Ahead

Figure 1-4: Projected Growth in Ocean Energy Generated, 2009-2013

U.S. Tidal Energy Market

Pending US Tidal Projects 2008

U.S. Wave Energy Market

Only One Company Takes Advantage of FERC Decision

U. S. Annual Ocean Thermal Energy Projects

Positive Factors in Future Growth

External Factors Favoring Growth

Internal Factors Favoring Growth

Environmental Impact Concerns

Legal/Regulatory Issues

FERC and MMS Reach New Agreement on Outer Continental Shelf

Potential Growth in U.S. Ocean Energy Power Output

Figure 1-5: Potential Growth in U.S. Ocean Energy Generated, 2009-2013

Ocean Energy Technology Competitors

Types and Sizes Companies

Most Development Driven by Local Marine Conditions

Competitors by Product Category/Segment

Competitors: Attenuator Energy Competitors

Table 1-1: Selected List of U.S./Global Attenuator Competitors

Competitors: Horizontal Axis Turbines

Table 1-2: Selected List of U.S./Global Tidal (Wave) Energy Market Competitors

Competitors: Overtopping Devices

Table 1-3: Selected List of Overtopping Device Companies

Ocean Energy Technology Market Trends

Foreign Dominance of Research and Development

Scotland, Ireland and the UK

Table 1-4: UK Renewable Obligation Time Table (percent)

Australia

Portugal

Horizontal and Vertical Integration

Stock Market Trends

Table 1-5: OET Companies Trading on Public Stock Markets: By Exchange and Stock Symbol

Ocean Energy Trends in the United States

Figure 1-6: U.S. Energy Consumption, 2007 (percent)

Financing Trends

Emerging Financing Models

Federal Government Trends

State Trends

California

Florida

State Rebate Programs

Table 1-6: Coastal State Renewable Portfolio Standards (percent)

Distribution Structure

Geographic Limitations

Where is the power in the waves?

Where is the Power in the Tides?

Ocean Thermal Energy Conversion Still Catching On

Socioeconomic Considerations

Growth through Established Renewable Energy Market

Chapter 2: Ocean Energy Technology Systems/Products

Introduction: Market Parameters

Scope of Study: All Ocean Energy Technology Systems

Not Included: Other Renewable Energy (RE) Sources

Not Included (With Qualifications): Nonrenewable Energy (NRE) Sources

Note on Abbreviations

Tide Energy Systems

Overview

Hydrokinetic Power Generation

Potential Energy (gravity-based)

Estuary Systems

Barrage components

Turbines

Impact on Local Ecosystems

Wave (Marine) Current Systems

Overview

Point Absorbers

Attenuators

Terminator Devices

Overtopping Devices

Pneumatic Power

Mechanical Power

Ocean Thermal Energy Conversion (OTEC) or Ocean Thermal Energy (OTC)

Closed Cycle OTEC

Open Cycle OTEC

Hybrid Cycle OTEC

Benefits of OTEC

Floating Structure

Pipes

Desalination and Potable Water

Refrigeration Fluid

Electric Cable to Shore

Boiler

Condenser

Hydrogen Production

Environmental Impact

Benefits to Island Nations and Communities

Salinity Gradient

Overview

Fresh Water/Seawater Mix

Osmotic Power Potential

Pressure-retarded Osmosis

Prototypes in Place

Chapter 3: The Ocean Energy Technology Market

U.S. Ocean Energy Technology Market in a Global Context

Overview

Ocean Energy Investments

Figure 3-1: Global Investments in Ocean Energy, 2004-2008 (in million $)

Growth in World Wave-Energy Market

Figure 3-2: World Wave Energy Projects and Values, 1998-2009

Growth in World Tidal/Current-Energy Market

Figure 3-3: World Tidal Energy Projects and Values, 2001-2009

World Ocean Energy Technology Projects

Figure 3-4: Total Global OET Projects in Development, 2000-2008

Costs of Setting up an Ocean Energy Power Converter

Leading Global Wave Energy Companies

Table 3-1: World Wave Energy Companies with Full-Scale Prototypes

World Leaders in Tidal Energy Development

Table 3-2: World Tidal Energy Companies with Full-Scale Prototypes

Ocean Energy Production in the Years Ahead

Figure 3-5: Projected Growth in Ocean Energy Generated, 2009-2013

Projected Growth World Growth in Ocean Energy Projects

Figure 3-6: Global Ocean Energy Technology Projects Nearing Final Stages of Development, 2009

Potential Market Value from 2009-2013

UK Ocean Energy Technology Companies to Watch

Table 3-3: U.K. Companies with OET Projects in Early Development

The U.S. Ocean Energy Technology Market

Overview

FERC and MMS Reach New Agreement on Outer Continental Shelf

Commercially Available Ocean Energy Technology

Hydropower - Industry Activities

U.S. Tidal Energy Market

Table 3-4: Issued and Valid Hydrokinetic Projects Preliminary Permits 2007

Geographic Locations

Pending US Tidal Projects 2008

Table 3-5: Pending Hydrokinetic Tidal Current Projects Preliminary Permits

Power Capacity of Full-Scale Tidal Current Prototypes

Table 3-6: Power Capacity of Full-Scale Tidal Current Prototypes

Potential Growth in U.S. Ocean Energy Power Output

Figure 3-7: Potential Growth in U.S. Ocean Energy Generated, 2009-2013

Estimated Price per Watt/Installed/Projected

U.S. Wave Energy Market

Table 3-7: Geographic Locations and Potential Wave Energy Output

Table 3-8: Issued and Valid Hydrokinetic Wave Projects Preliminary Permits, 2008

Only One Company Takes Advantage of FERC Decision

Table 3-9: Pending Hydrokinetic Wave Energy Projects Preliminary Permits

Full-Scale Wave Energy Prototypes

Table 3-10: Power Capacity of Full-Scale Tidal Current Prototypes

Price per Watt/Installed/Projected

U. S. Annual Ocean Thermal Energy Projects

Figure 3-8: Potential Markets for Ocean Thermal Energy Projects

U.S. Ocean Thermal Energy Projects

U.S. Salinity Gradient Projects

Still too new for the United States

OET State Support

U.S. Ocean Energy Technology Market: Sales and Growth

Figure 3-9: US Wave Energy Potential

U.S. Wave-Energy Market Growth from 2001-2008

Figure 3-10: Number of U.S. Wave Energy Projects, 1998-2008

U.S. Tidal-Energy Market Growth 2001-2008

Figure 3-11: Number of U.S. Tidal Energy Projects, 1997-2008

Factors in Future Growth

Positive Factors in Growth

Overview

The Obama Recovery Plan

External Factors Favoring Growth

Table 3-11: Coastal States with RPS Requirements

The Economy: Supplies

Ecology: Climate Change

Private Sector Investment

Public Sector Support

Internal Factors Favoring Growth

Environmental Impact Concerns

Legal/Regulatory Issues

Utility Obstacles (Integration into Existing Grids)

Geographic Obstacles

Recession

Impact on commercial and recreation fishing sites

Marine transit routes

Surfing and coastal recreation

Chapter 4: The Competitors

Overview

Competitive Context

At What Cost?

Public/Private Interaction

Young Formation

External Market Factors Integral to Market Structure

Ocean Energy Trade Associations

European Ocean Energy Association (EU-OEA)

International Energy Agency - Implementing Agreement on Ocean Energy Systems (IEA-OES)

Table 4-1: List of 2008 IEA-OES Members

Ocean Renewable Energy Coalition (OREC)

Table 4-2: List of 2008 Ocean Renewable Energy Coalition Members

Table 4-3: OREC Strategic Partners

Ocean Energy Technology Competitors

Types and Sizes

Most Development is Driven by Local Marine Conditions

Competitors by Product Category/Segment

Competitors: Attenuator Energy Competitors

Table 4-4: Selected List of U.S./Global Attenuator Competitors

Competitors: Horizontal Axis Turbines

Table 4-5: Selected List of U.S./Global Tidal (Wave) Energy Market Competitors

Competitors: Oscillating Hydrofoil

Table 4-6: Selected List of Oscillating Hydrofoil Companies

Competitors: Overtopping Devices

Table 4-7: Selected List of Overtopping Device Companies

Competitors: Ocean Thermal Energy

Table 4-8: Selected List of U.S./Global Ocean Thermal Energy Competitors

Competitors: Point Absorber Companies

Table 4-9: Selected List of Point Absorber Companies

Competitors: Vertical Axis Turbine

Table 4-10: Selected List of Vertical Axis Turbine Companies

Competitors: Salinity Gradient Energy

Competitive Profiles

Introduction

Pelamis Wave Power Ltd.

Corporate Background

Product and Brand Portfolio

Performance

Company News

Growth

Outlook

Personnel Changes

Affect of Recession in 2008 and into 2009

Marine Current Turbines Ltd.

Corporate Background

Product and Brand Portfolio

Company News

Projects in Development

Looking for Investors

OCEES International, Inc.

Corporate Background

Projects in Development

Strategic Partners

Grays Harbor Ocean Energy Company

Corporate Background

Product and Brand Portfolio

The Oscillating Water Column Technology

Company News

Innovation

Outlook

Collaborations

Finavera Renewables

Corporate Background

The AquaBuOY

Company News

Acquisition of AquaEnergy Group, Ltd.

AquaBuOY 2.0

Humboldt County, California

Coos Bay, Oregon

Makah Bay, Washington State, USA

Innovation

Outlook

Chapter 5: Ocean Energy Technology Market Trends

Competitive Trends

Globalization of U.S. Ocean Energy Technology Market

Foreign Dominance of Research and Development

Scotland, Ireland and the UK

Table 5-1: Scotland Marine Energy Programme Distribution

Table 5-2: UK Renewable Obligation Time Table (percent)

Australia

Table 5-3: Proposed Australian Renewable Energy Fund, 2009

Table 5-4: Oceanlinx’s Funding Sources, 1999-2009

Israel

Table 5-5: S.D.E. Orders 2005-2008

Portugal

Table 5-6: Ocean Energy Projects in Portugal

Canada

Table 5-7: Wave-energy Projects in Canada

Table 5-8: Tidal-energy Projects in Canada

UK Technology at Work in Canada

Building the Marine Technology Network in British Columbia

China

Japan

Ocean Energy Trends in the United States

Figure 5-1: U. S. Energy Consumption, 2007

Competing with Fossil Fuels and other Renewables

Table 5-9: Use Energy Consumption by Energy Source, 2003-2007

Horizontal and Vertical Integration

Government and State Support

Investment Trends

Investor Trends in 2007

Table 5-10: Ocean Energy Investments, 2007

Investor Trends in 2008

Table 5-11: Ocean Energy Investments, 2008

Stock Market Trends

Table 5-12: OET Companies Trading on Public Stock Markets: By Exchange and Stock Symbol

Financing Trends

Financing Is Fundamental

Emerging Financing Models

New OET Financiers

Cautionary Note

Subsidies

U.S. Federal and State Trends

Federal Government Trend

California Trends

Florida Trends

State Rebate Programs

Table 5-13: Coastal State Renewable Portfolio Standards (percent)

Chapter 6: Market Distribution

Distribution Structure

Geographic Limitations

Where is the power in the waves?

Table 6-1: Global Distribution of Wave Energy Manufacturers (percent)

Where is the Power in the Tides?

Figure 6-1: Global Distribution of Tidal Energy Companies (percent)

Ocean Thermal Energy Conversion Still Catching On

Socioeconomic Considerations

Overview: Theme and Variations

Table 6-2: Ocean Energy Companies in Agreement with Utilities

Distribution and Distributors

Growth through Established Renewable Energy Market

Growth through Power Collaboration with Industry Leaders

Growth through Memorandum of Understanding

A Unique Investment in Ocean Energy

Getting the Word Out About Ocean Energy Technology

Distribution, Direct-Sales Retailers, and the End-User

Abstract

This SBI study presents a comprehensive overview of the growing market for ocean energy technologies in the United States and throughout the world. Falling within the parameters of this study are all ocean energy technology systems and products. This study includes both public and privately funded systems that are in development or have already been installed. This study also includes emerging systems that are in the early development stages.

Global energy consumption amounts to over 17,400 Terawatt hours per year, with United States’ use alone accounting for approximately11,200 Terawatt hours per year. Ocean energy technology has the potential to generate over 93,100 terawatt hours/year with the two most viable options being wave technology and thermal gradient technology. Wave Energy technology alone has the potential to produce up to 80,000 TWH/year, while OTEC could produce up to 10,000 TWH/year. Salinity Gradient technology, still an emerging science, has the potential to produce 2000 TWH/year. Given the Obama administration’s commitment to green technology and renewable energy alternatives, the outlook for 2009-2010 is very positive for increased investment in both domestic and global ocean energy developments.

In September 2008, New York City installed the first Tidal-Power Turbine system in the United States. As part of a plan for New York to generate up to 80% of the city’s power from renewable energy sources, the completed Tidal-Power Plant is expected to provide power for up to 10,000 households. New York’s Tidal-Power program shows how ocean energy technology is quickly catching up to the more familiar renewable wind and solar power sources.

In Aguçadoura, Portugal, the successful installation of the world’s first multi-unit wave farm will generate 2.5 MW, enough to power 1500 homes. The wave tidal energy market alone could be worth over $280 billion per year. In Hawaii, Taiwan Industrial Technology has entered into collaboration with Lockheed Martin to develop a 10MW Ocean Thermal Energy Conversion (OTEC) pilot plant.

Within the United States, Maine and Alaska offer the best conditions for tidal power plants, while Hawaii and the Atlantic coast have the tropical conditions required for Ocean Thermal Energy Conversion. Recent tests along northern California’s Redwood Coast indicate that the west coast could be an ideal area for testing wave energy systems. While the U.S. is among the global leaders in Ocean Wave and Tidal Current developments, the U.K. dominates the field as of 2008. India and Japan are the global leaders in Ocean Thermal Energy Conversion, while Mexico and Norway are among the initial investors in Salinity Gradient systems.

Report Methodology

The information in Ocean Energy Technologies and Components Worldwide is based on primary and secondary data from the U.S. Energy Information Administration, the European Ocean Energy Association, the International Energy Agency and the Sustainable Energy Coalition, along with information from trade associations such as the Ocean Renewable Energy Coalition and business journals, company literature and websites, and research services such as Simmons Market Research Bureau.

What You’ll Get in This Report

Ocean Energy Technologies and Components Worldwide makes important predictions and recommendations regarding the future of this market, and pinpoints ways current and prospective players can capitalize on current trends and spearhead new ones. No other market research report provides both the comprehensive analysis and extensive data that Ocean Energy Technologies and Components Worldwide offers. Plus, you’ll benefit from extensive data, presented in easy-to-read and practical charts, tables and graphs.

How You’ll Benefit from This Report

If your company is already doing business in the Ocean Energy Technology market, or is considering taking the plunge, you will find this report invaluable as it provides a comprehensive package of information and insight not offered in any other single source. You will gain a thorough understanding of the current market for four types of ocean energy technology, as well as projected markets and trends through 2013.

This report will help:

• Entrepreneurs and Investors identify market opportunities and gain a better understanding of which types of areas benefit most from ocean energy technology.

• Research and development professionals stay on top of competitor initiatives and explore demand for ocean energy technology.

• Green Marketing and Advertising agencies working with clients in the green energy market understand the potential impact of ocean energy technology and the advantages for coastal cities.

• Business development executives understand the dynamics of the ocean energy technology market and identify possible private and government partnerships.

• Information and research center librarians provide market researchers, brand and product managers and other colleagues with the vital information they need to do their jobs more effectively.

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