RENEWABLE ENERGY VIEW 2015


Wave & Tidal (Power)


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l PwC estimate that £13m was invested in the sector between 2010 – 2013 l In 2014, PwC calculate that an additional £5m was invested l Over the period 2015 – 2020, PwC forecast a further £546m could be invested in the sector (£m, Real 2012)


The industry is moving from technology development to deployment. Much of the government’s support has been directed at funding innovation, with progress in commercial-scale deployment not being as rapid as the government anticipated. Some major players have reduced their involvement or stepped away from the industry altogether, and it is clear that a fresh look at policy will be needed after the election if this sector is to achieve its potential.


WAVE & TIDAL CONTEXT


l Still at an early stage of deployment


l Relatively high levels of support in Renewables Obligation and Contracts for Difference, but needs clear policy beyond 2020


l Major challenges in creating Government policy that enables the industry to deploy at scale


74 REview Renewable Energy View 2015


www.r-e-a.net


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