The key market drivers for marine energy are to reduce carbon emissions, and improve security and sustainability of supply. There are other technologies that also meet these requirements, and therefore the marine energy market is dependent on the technology being cost effective, and competitive. The potential UK wave energy market is assessed using ETI’s Energy Systems Modelling Environment (ESME) which uses a multi-vector approach including energy generation, demand, heat, transport, and infrastructure. This will be used to identify scenarios where wave energy forms part of the least-cost energy system for the UK by 2050, and will assess what LCOE reductions are required to improve the commercialisation rate.
Exploring Wave Energy Potential in the UK Using a Whole Systems Modelling Approach is located in United Kingdom.