Tidal and wave energy are experiencing a significant boost, fueled by European Union (EU) funding initiatives, advancements in Artificial Intelligence (AI) research and development (R&D), and the United Kingdom’s (UK) Contracts for Difference (CfD) scheme. These factors are collectively driving the development and deployment of tidal and wave energy projects, marking a crucial step towards a diversified and sustainable energy future.
EU Funding Fuels Ocean Energy Innovation
The EU has recognized the strategic importance of ocean energy and is actively supporting its development through various funding programs. The Horizon Europe program, with its Cluster 5 dedicated to climate, energy, and mobility, is a key instrument for research and innovation in this sector.
- Horizon Europe: This program provides substantial funding for research and innovation projects, with the potential to cover up to 100% of eligible project costs for research and innovation actions.
- Innovation Fund: Normandie Hydroliennes’ NH1 tidal energy project was awarded €31.3 million in funding from the European Union’s 2023 Innovation Fund. The European Commission’s €4.8 billion Innovation Fund supports industrial decarbonization through low-carbon technologies.
- EURO-TIDES and SEASTAR Projects: The Horizon Europe program granted €40 million to these projects to develop pilot tidal farms in Europe. EURO-TIDES, led by Orbital Marine Power, will deploy 9.6 MW of tidal power. SEASTAR, led by Nova Innovation, will install an array of 16 turbines for a total of four megawatts.
- HiWave-5 and Saoirse Projects: These flagship wave projects are financed by EU funds and utilize wave energy technology developed by Swedish company CorPower Ocean.
This financial support is instrumental in bridging the investment gap and accelerating the industrialization of innovative renewables like ocean energy. EU funding helps de-risk projects, leverage private investments, and enable the industry to move to the next stage of commercialization.
AI Revolutionizes Tidal Energy R&D
Artificial Intelligence (AI) and Machine Learning (ML) are playing an increasingly important role in optimizing the performance, reliability, and cost-effectiveness of tidal and wave energy systems.
- Predictive Maintenance: AI algorithms analyze sensor data and historical maintenance records to identify potential equipment failures, enabling proactive maintenance and minimizing downtime.
- Performance Optimization: AI and ML techniques are used for predictive modeling and forecasting of wave and tidal patterns, aiding in the optimization of energy generation.
- Autonomous Systems: AI-powered autonomous underwater robots are used for monitoring and inspection of ocean energy systems.
- ELEMENT Project: This European project, led by Nova Innovation, utilizes AI to improve tidal turbine performance and reduce the lifetime cost of energy by 17%.
The integration of AI and ML in ocean energy systems offers immense potential for optimizing efficiency and sustainability. By utilizing these technologies for energy extraction, data analysis, prediction, and the development of autonomous systems, the field of ocean energy can enhance its performance and contribute to a greener future. The global AI for Tidal Energy Market was valued at USD 8.9 billion in 2023 and is projected to reach a market size of USD 18.48 billion by 2030.
UK’s CfD Scheme Drives Tidal Energy Deployment
The UK government’s Contracts for Difference (CfD) scheme is a key market support mechanism for low-carbon electricity generation, and it has been instrumental in driving the deployment of tidal energy projects.
- Ring-fenced Budget: The UK government has allocated a ring-fenced budget for tidal stream energy in its CfD allocation rounds, providing much-needed long-term certainty and boosting private investment.
- Allocation Round 6 (AR6): The AR6 resulted in six projects across five sites securing contracts to deliver 28 MW of tidal stream capacity at £172/MWh.
- Growing Pipeline: The UK is on track to have over 130 MW of tidal stream capacity deployed in its waters by 2029.
- Project Examples: Projects that secured contracts in AR6 include HydroWing in Wales (10MW) and four sites in Scotland (MeyGen 9MW), Seastar (4MW), Magallanes (3MW) and Ocean Star Tidal (2MW).
The UK’s success with tidal CfDs demonstrates that governments can swiftly deliver multi-MW ocean energy farm-scale projects with earmarked revenue support. This model can be replicated by other European countries to unlock the full potential of ocean energy. According to data from Offshore Renewable Energy (ORE) Catapult and Imperial College London (ICL), tidal energy has the potential to meet 11 percent of the UK’s electricity demand by 2050, adding £17 billion to the economy.
Current Tidal and Wave Energy Projects
Several tidal and wave energy projects are currently underway in the UK and Europe. Some notable examples include:
- MeyGen Project (Scotland): The world’s largest tidal stream project, with plans to expand to 400 MW in phases.
- Morlais Project (Wales): A project with the potential for up to 240 MW of tidal stream generation off the coast of Holy Island, Anglesey.
- EURO-TIDES Project (Scotland): Aims to establish Europe’s path in tidal energy development with a 9.6 MW pilot tidal array by 2027.
- HiWave-5 Project (Portugal): Deployment of four 300 kW wave energy converters in northern Portugal.
- Normandie Hydroliennes’ NH1 tidal energy project (France): The project will install four Proteus Marine Renewables’ AR3000 horizontal-axis turbines in Normandy, delivering 34 GWh annually to the French grid by 2028, enough to power 15,000 homes.
Challenges and Opportunities
Despite the progress being made, tidal and wave energy still face challenges. Costs remain high compared to other renewables, and further technological advances are needed to improve efficiency and reliability. Monitoring and mitigating potential environmental impacts are also crucial as the industry scales up.
However, the opportunities for tidal and wave energy are significant. These technologies offer a predictable and reliable source of renewable energy that can complement wind and solar power. They are particularly well-suited for island nations and coastal communities looking to reduce their reliance on fossil fuels. With continued investment, innovation, and supportive policies, tidal and wave energy can play a key role in the transition to a sustainable energy future.
