The Commonwealth Science and Industrial Research Organisation (CSIRO) have evaluated the potential market in Australia for Ocean Renewable Energy (ORE). They have low, medium and high cases. The medium case has this type of energy producing 24 TWhr/yr of power by 2050, or 5% of Australia’s power demands. (Click here to view the CSIRO's report Ocean Renewable Energy: 2015-2050)
In the Australian context, using Tasmania as an example, ORE would help level the yearly electricity supply load. Tasmania currently has more energy generation in summer. In contrast, wave energy would produce greater energy in winter.
In a region such as South Australia, there is already a large dependency on highly variable renewable supply. The nature of ORE, is that this technology provides a much more stable supply as wave energy is three times less variable than wind power*.
The advantage of ORE, is that moves Australia energy supply towards meeting its renewable energy targets, doing so with a more reliable steady renewable energy supply.
But the potential is not just limited to Australia. International modelling has also been performed by the CSIRO. They predict the mid range case for installed wave energy capacity by 2025 is 449 GW, which puts the size of the global market at 166 times the size of the Australian market*.
AMOG has been providing high-end engineering consulting services to the offshore oil and gas sector for more than 25 years. Over this time, we have developed a reputation for providing innovative solutions to the complex engineering problems often presented by the challenges of working in ocean environments.
As Joint Industry Project leaders, AMOG invest heavily in research and development and we have brought this knowledge and experience to the design of our of wave energy device.
Please click here to read more about AMOG's Wave Energy Converter or you can contact Dr Hayden Marcollo on +61 3 9542 3700.
(*) CSIRO Report Ocean Renewable Energy: 2015-2050