Green Economy in a Blue World-Full Report

4 Conclusion and recommendations

outlined above to accelerate the development of the industry, reducing long-term uncertainty and market risk, and eventually mobilizing the private sector capital. Research and development needs to be maintained for all relevant marine-based renewable energy options, to ensure that subsequent breakthroughs remain possible. In addition to relevant policy mechanisms, incentives schemes and financing options, governments, at both national and international level, also need to come up with binding targets, establish an appropriate framework and ensure smooth running of implemented policies for marine based renewable energy technologies. Countries can pass legislation similar to the European Renewable Energy Directive that requires countries to address this, more broadly for all renewable energy options. Finally, all players in the marine-based renewable energy sector have a role to ensure that they proactively maintain and nurture civil society acceptance. Governments especially need to undertake proactive strategic marine planning to offer concessions in areas with lower risk to ecologically sensitive areas and promote synergies with other marine users. DIMMS, U. (2006). US Department of the Interior Minerals Management Service, Renewable Energy and Alternate Use Program. Wave Energy Potential on the US Outer Continental Shelf; Technology White Paper. U.S. Department of the Interior. EAI. (2011). Offshore wind energy in India, Europe and USA. Retrieved November 27, 2011, from Energy Alternatives India Club (EAI): http://www.eai.in/club/users/amsapna/ blogs/1305 Ecopolitology. (2011). Obama Unveils US First Offshore Wind Energy Strategy. Retrieved November 28, 2011, from Ecopolitology. Politics of Energy and the Environment: http://ecopolitology.org/2011/02/08/obama-unveils-us- first-offshore-wind-energy-strategy EREC. (2011). OceanEnergy Introduction. RetrievedNovember 29, 2011, from European Renewable Energy Council (EREC): http://www.erec.org/renewable-energy/ocean-energy.html ETSAP. (2010). Marine Energy Technology Brief E13. Paris, France: Energy Technology Systems Analysis Programme. EU-OEA. (2010). Oceans of Energy – European Ocean Energy Roadmap. European Ocean Energy Association (EU-OEA). European Commission. (2011). Maritime Spatial Planning. Retrieved November 29, 2011, from European Commision. Maritime Affairs: http://ec.europa.eu/maritimeaffairs/policy/ maritime_spatial_planning/index_en.htm EWEA. (2009). Offshore wind energy. Retrieved November 29, 2011, from European Wind Energy Association (EWEA): http://www.ewea.org/index.php?id=203

The importance of renewable energy to drive a green economy is undisputed. Targets for renewable energy deployment and record levels of investment in renewable energy are driving this sector forward. This chapter has shown that while the theoretical marine-based potential to contribute to low-carbon energy security is significant, the currently realizable potential is much lower but still significant. energy technologies, apart from offshore wind and tidal range are in the conceptual or demonstration stage. Offshore wind-energy is likely to expand in the coming years, while tidal range is limited by the number of potential sites and the environmental impacts associated with barrages. Technical costs are the largest barrier and are likely to remain high until a critical mass can be reached. However, acceleration in the industry has been witnessed in regions where deployment targets are coupled with public support for research and development. To maintain this momentum, governments need to lead the way and provide the enabling conditions All marine-based renewable References Andrews, J., & Jelley, N. A. (2007). Energy science: principles, technologies, and impacts. New York, USA: Oxford University Press. Awerbuch, S. (2003). Determining the real cost – Why renewable power is more cost-competitive than previously believed. Renewable Energy World . Bloomberg. (2010). Green Stimulus Update, Analyst Reaction. Bloomberg New Energy Finance . Bloomberg. (2011). Spains First Wave Power Plant on Grid Opens With Voith Tech. Retrieved June 13, 2011, from Bloomberg: http://www.bloomberg.com/news/2011-07-13/ spain-s-first-wave-power-plant-on-grid-opens-with-voith- tech.html. Callaghan, J. (2006). Future Marine Energy – Results of the Marine Energy Challenge: Cost Competitiveness and Growth of Wave and Tidal Stream Energy. London, UK: Carbon Trust. Carbon Trust. (2011). Marine Renewables Proving Fund. Retrieved October 12, 2011, from Carbon Trust: http://www. carbontrust.co.uk/emerging-technologies/current-focus- areas/marine-renewables-proving-fund/Pages/default.aspx Clixoo Solutions. (2011). Wave and Tidal Energy Market Status and Business Potential. Chennai: Clixoo Solutions Pvt., Ltd. Cornett, A. (2008). Aglobalwaveenergy resourceassessment. Proceedings of the Eighteenth (2008) International Society of Offshore and Polar Engineers , pp. 318-326. DECC. (2010). Severn Tidal Power Feasibility Study. United Kingdom: Department of Energy and Climate Change.

in a Blue World

74