The earth is the water planet, so it should come as no great surprise that hydroelectricity has been the world’s most popular renewable energy source.  Yet the largest water power source of all — the ocean that covers three-quarters of the planet — has yet to be tapped in any major way for power generation.

This Pike Research report reviews five main types of marine and hydrokinetic technologies:  ocean wave, tidal stream, river hydrokinetic, ocean current and ocean thermal resources.  On the verge of widespread commercialization, with the U.K., U.S., and Canada in the lead, this suite of marine renewable resources is poised for major growth over the next five years, and could collectively capture as much as 10 or even 15 percent of the global electricity market by 2030.  Readers will learn about the market leaders in each marine renewable segment, and the make-or-break issues facing more than 100 companies seeking to gain competitive advantage in the world’s hottest new renewable energy sector.

In addition to analyzing the suitable applications and viability of each of the five technologies, the report examines market conditions for ocean and river hydrokinetic energy around the world, including key drivers of industry development as well as regulatory issues and government incentives and subsidies.  Implementation issues and challenges are also analyzed, including technology standardization issues, site permitting, grid interconnection, and power transmission and distribution issues.  Detailed market forecasts for each of the five technologies are provided for each major region of the world, and key industry players are profiled including an assessment of their relative strengths and weaknesses within the market.

Key questions addressed:

• Why haven’t these abundant renewable resources been commercially developed?
• How do each of the five technologies profiled compare to each other — as well as current market favorites, such as solar and wind power?
• What are the key advantages of each of these technologies — and their shortcomings?
• Which companies in each of the five segments are poised to be market leaders?
• Which countries are the current best markets for which technologies — and why?

Who needs this report?

• Hydrokinetic and ocean energy technology companies and equipment manufacturers
• Renewable energy project developers
• Private sector investors looking for the next big renewable energy opportunity
• Advocates of the “green economy”, looking to create jobs through renewable energy development
• Policymakers looking to expand renewable energy supplies to meet climate change and economic development goals
• Component manufacturers and other supply chain firms and organizations looking to expand markets for their products and services
• Universities, NGOs, and research organizations with expertise transferable to the emerging marine renewable industry
• Utilities and large industries looking to develop carbon-free energy supply strategies or integrate local indigenous resources into their supply portfolios

Table of Contents

1.     Executive Summary

2.     Market Issues

2.1 Water Power: World’s Largest Renewable Energy Source

2.2 Current Status of Water Power

2.3 Types of Hydropower: Advantages and Disadvantages

2.4 Shift in Development Emphasis to Marine Kinetic Technologies

2.5 Current Market Opportunities

2.5.1 Climate Change Regulations

2.5.2 The Green Economy

2.5.3 The Variability of Existing Renewable Resources

2.5.4 Predictability of Marine Kinetic Resources

2.5.5 Superior Energy Content Profile

2.6 Industry Growth Drivers

2.6.1 Legislative, Regulatory, Incentives and Subsidies

2.6.2 Improvements to Waterpower Technologies

2.6.3 Emergence of Marine Kinetic Technologies

2.6.4 Economics Overview

2.6.4.1 Cost of Conventional Energy Source Trends

2.6.4.2 Net Cost of Wave, Tidal, River Kinetic, Ocean Current, Ocean Thermal Technologies

2.7 Implementation Issues

2.7.1 Lack of Commercial or Mature Product Offerings

2.7.2 Unknown Environmental Permitting Issues

2.7.3 Transmission and Distribution Grid Interconnection Questions

2.7.3.1 Remote Versus Load Center Plant Locations

2.7.3.2 Grid Interconnection Issues

2.7.3.2.1 Integration with Wholesale Grid Operators

2.7.3.2.2 Integration with Emerging Green Power Portfolios

2.7.4 Lack of Standards and Certifications

3.      Technology Issues

3.1 Ocean Wave Technologies

3.1.1 History

3.1.2 Basic Principles

3.1.3 Strengths and Weaknesses

3.1.4 Turbine Types

3.1.5 Commercialization Time Horizon

3.1.5.1. Cost

3.1.5.2  Efficiency

3.1.5.3  Reliability

3.1.5.4  Scalability

3.1.5.5  Availability

3.2 Tidal Power

3.2.1       History

3.2.2       Basic Principles

3.2.3       Strengths and Weaknesses

3.2.4       Turbine Types

3.2.5       Commercialization Time Horizon

3.2.5.1 Cost

3.2.5.2 Efficiency

3.2.5.3 Reliability

3.2.5.4 Scalability

3.2.5.5 Availability

3.3          River Hydrokinetic Technologies

3.3.1       History

3.3.2       Basic Principles

3.3.3       Strengths and Weaknesses

3.3.4       Turbine Types

3.3.5 Commercialization Time Horizon

3.3.5.1 Cost

3.3.5.2 Efficiency

3.3.5.3 Reliability

3.3.5.4 Scalability

3.3.5.5 Availability

3.4  Ocean Current Technologies

3.4.1       History

3.4.2       Basic Principles

3.4.3       Strengths and Weaknesses

3.4.4       Turbine Types

3.4.5       Commercialization Time Horizon

3.4.5.1 Cost

3.4.5.2 Efficiency

3.4.5.3 Reliability

3.4.5.4 Scalability

3.4.5.5 Availability

3.5  Ocean Thermal Energy Technologies

3.5.1       History

3.5.2       Basic Principles

3.5.3       Strengths and Weaknesses

3.5.4       Turbine Types

3.5.5       Commercialization Time Horizon

3.5.5.1 Cost

3.5.5.2 Efficiency

3.5.5.3 Reliability

3.5.5.4 Scalability

3.5.5.5 Availability

4.     Key Industry Players

4.1 Wave Power

4.1.1 Pelamis Wave Power

4.1.2 Ocean Power Technology

4.1.3 SWOT Analysis of Other Top 3 Wave Prospects

4.1.3.1 Wave Dragon

4.1.3.2 Wavegen

4.1.3.3 Oceanlinx

4.2 Tidal Stream Turbines

4.2.1 Marine Current Turbines

4.2.2 OpenHydro

4.2.3 SWOT Analysis of other 2 Other Top Prospects

4.2.3.1 Lanstrom Turbines

4.2.3.2 Lunar Energy

4.3 River Hydrokinetic Technologies

4.3.1 Verdant Power

4.3.2 Ocean Renewable Power Company

4.4 Ocean Current

4.4.1 Aquantis, LLC

4.5 Ocean Thermal

4.6 Xenesys, Inc.

5.     Market Forecasts

5.1 World Energy Generation

5.2 World Renewable Distributed Energy Generation

5.3 Wave Energy

5.3.1 North America

5.3.2 Europe

5.3.3 Asia Pacific

5.3.4 Rest of the World

5.4 Tidal Resources

5.4.1 North America

5.4.2 Europe

5.4.3 Asia Pacific

5.4.4 Rest of the World

5.5 River Hydrokinetic Turbines

5.5.1 North America

5.5.2 Rest of the World

5.6 Ocean Current

5.6.1 North America

5.6.2 Rest of the World

5.7 Ocean Thermal

5.7.3 North America

5.7.4 Asia Pacific / Rest of the World

6.     Company Directory

7.     Acronym and Abbreviation List

8.     Table of Contents

9.     Table of Figures

10.   Scope of Study, Sources and Methodology, Notes

Table of Charts and Figures

• Hydrokinetic Capacity Forecasts by Technology, World Markets: 2008-2015
• Estimated Waterpower Capacity Potential and Realized Gains by 2025
• Global Distribution of Ocean Power Technologies
• World Energy Consumption by Source: 1982-2007
• Regional Energy Consumption Patterns by Source: 2007
• Average Energy Cost per Kilowatt-Hour by World Region: 1999-2007
• Ocean Power Economies of Scale Cost Comparison
• Breakdown of Capital Costs for Wave Farm
• Breakdown of Capital Costs for Tidal Stream Farm
• Breakdown of Operations and Maintenance Costs for Wave Farm
• Cost of Energy at 10 MW, Wave and Tidal Stream Energy
• Capital Costs of First Prototypes and First Production Models, Wave and Tidal Stream
• Distribution of Major Wave Technology Types
• Renewable Energy Sources as a Percentage of All Power Generation: 2006-2030
• Carbon Reduction Forecasts by Policy Scenario, World Markets: 2005-2030
• Electricity Generation Capacity Additions, World Markets: 2007
• Cumulative Electricity Capacity by Source, World Markets: 2005-2030
• Power Generation Forecasts by Policy Scenario, World Markets: 2005-2030
• Hydrokinetic Capacity Forecasts by Technology, World Markets: 2009-2015
• River Kinetic Capacity Forecasts, World Markets: 2009-2015
• Hydrologic Cycle
• Lunar and Solar Tides by Seasonal Cycle
• Wave and Tidal Energy Potential, North America
• Marine Renewable Energy Technologies Cost Reduction Diagram
• EPRI Alaska River Hydrokinetic Resource Evaluation Sites
• Renewable Portfolio Standards, United States
• Global Wave Power Density Distribution
• Types of Wave Energy Conversion (WEC) Devices
• Prime Tidal resources Regions around the World
• Basic Designs of Wind/Water Turbines
• Major North American Rivers and Their Yearly Discharges in Cubic km/Year
• Image of a Typical Hydrokinetic Turbine
• World Ocean Current Resources
• Horizontal Axis Ocean Current Turbine
• Schematic of Ocean Thermal Energy System
• Map of Ocean Temperature Differences between Surface and Depth of 1000 Meters
• Sea Solar Power 100 MW Plantship
• Image of Pelamis Wave Power Device
• Image of Ocean Power Technology PowerBuoy
• Image of Marine Current Turbines Tidal Stream Turbine
• Image of OpenHydro Tidal Stream Turbine
• Image of Verdant Power River Hydrokinetic Turbine
• Schematic of Ocean Renewable Power Company Cross-Flow Turbine
• Artist Depiction of Aquantis C-Plane Technology
• Summary, Levelized Real COE Chart for Marine Renewables
• Marine Renewable Energy Government Subsidies, Key European Markets
• Marine Renewable Energy Costs and Capabilities by Technology
• Summary Levelized Real Cost of Energy Chart for Marine Renewables
• Pelamis SWOT Analysis
• Ocean Power Technology SWOT Analysis
• Wave Dragon SWOT Analysis
• Wavegen SWOT Analysis
• Oceanlinx SWOT Analysis
• Marine Current Turbines SWOT Analysis
• OpenHydro SWOT Analysis
• Hammerfest Strom AS SWOT Analysis
• Lunar Energy SWOT Analysis
• Verdant Power SWOT Analysis
• Ocean Renewable Power Company SWOT Analysis
• Xenesys SWOT Analysis

Table of Tables

• Hydrokinetic Technologies Capacity, World Markets: 2008-2015
• Annual Growth of Hydrokinetic Technologies, World Markets: 2008-2015
• Ocean Wave Power Capacity, World Markets: 2008-2015
• Annual Growth of Ocean Wave Power Capacity, World Markets: 2008-2015
• Tidal Power Capacity, World Markets: 2008-2015
• Annual Growth of Tidal Power Capacity, World Markets: 2008-2015
• Tidal Barrage Capacity, World Markets: 2008-2015
• Annual Growth of Tidal Barrage Capacity, World Markets: 2008-2015
• River Hydrokinetic Capacity, World Markets: 2008-2015
• Annual Growth of River Hydrokinetic Capacity, World Markets: 2008-2015
• Ocean Current Capacity, World Markets: 2008-2015
• Annual Growth of Ocean Current Capacity, World Markets: 2008-2015
• Ocean Thermal Capacity, World Markets: 2008-2015
• Annual Growth of Ocean Thermal Capacity, World Markets: 2008-2015
• Wave System Installed Price, United States: 2008-2015
• Wave System Revenue, United States: 2011-2015
• Tidal Power Installed Price, Americas: 2008-2015
• Tidal Power System Revenue, Americas: 2010-2015
• Hydrokinetic Technologies Revenue, Americas: 2010-2015

Databases

• Database of Hydrokinetic and Ocean Energy Projects, World Markets
• Database of Government Incentives for Marine Renewables, World Markets