IEA (2020), Tracking Ocean Power 2020, IEA, Paris https://www.iea.org/reports/tracking-ocean-power-2020
About this report
Electricity generation from marine technologies increased an estimated 13% in 2019. However, the tracking status of marine power remains “not on track” because it is far from being aligned with the Sustainable Development Scenario (SDS), which requires much higher annual growth of 23% through 2030.
Advanced marine projects for power generation ranging from 10 kW to 1 MW have been deployed mostly in the United Kingdom, Canada, Australia and China. However, these demonstration and small commercial projects remain expensive and have not yet achieved the economies of scale necessary for significant cost reductions.
Marine technologies hold great potential, but additional policy support is needed for RD&D to enable the cost reductions that come with the commissioning of larger commercial plants.