"During the OEE conference in Dublin, EU Ocean Energy Association launched its Draft Strategic Roadmap. The roadmap is a key strategic document that outlines the requirements to accelerate the development of ocean energy, including wave energy, to exploit the enormous market potential and maintain Europe's leading position in the sector.
The roadmap estimates that ocean energy, including wave energy, could yield 337,000 MW of installed low carbon electrical generation capacity globally by 2050 of which up to 100,000W could be in Europe. With the right support, the size of the prize is significant with estimates suggesting €653 billion for 2010-2050 and an annual market of up to €53 billion, as well as new jobs in an emerging sector.
The roadmap recommends public-private cooperation to fund 10 demonstration and pre-commercial ocean energy projects and the cost of infrastructure to connect at least 300 MW of ocean energy devices EU-wide.
The draft roadmap will now be further refined with view to reaching agreement with EU decision makers to deliver the plan, with implementation to commence by the summer of 2016."
The European summer is not that far off.
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