Ocean energy systems

The birth of a new industry

2005 was a breakthrough year for ocean energy. The Annual Report of the Ocean Energy Systems Department (OES) of the International Energy Agency (IEA) even calls it ‘the birth of a new industry’. Indeed, the first order for a commercial wave farm took place in 2005 with Ocean Power Delivery signing a deal with a Portuguese consortium for the installation of three units capable of 750kW each.

In the meantime, development is continuing with new prototype installations being built in Australia, Canada, Ireland, Italy, and the U.S. Also in 2005, policy makers in several countries made announcements of incentives for ocean energy systems. In the UK, for instance, the Marine Renewebles Deployment Fund was created, and in the U.S., the 2005 Energy Policy Act recognizes ocean energy as an eligible renewable energy system.