EU Science Hub

Overview of European innovation activities in marine energy technology

Overview of European innovation activities in marine energy technology
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Abstract: 
This report aims at providing an overview of the research capabilities for innovation activities in marine energy within Europe in 2011. The sector features intense product innovation, embodied by development of diverse ocean energy devices, which is dominant in the early stages, when the market is not yet well defined. Overall, the mobilization of financial resources for wave and tidal energy gathers only 10 % of the aggregated (public and private) investment in mature technology (wind technology). The human resources of the sector gather less than 6% of the ones mobilized by young technologies (offshore wind energy technology). Although the intensity of mobilization is relatively low, additional constraints for technology are induced by unexpected variations in policy support for the technology and influence subsequently the future development of the technology. Finally Europe has great potential in the development of the technology if more active policy coordination and synergies are exploited.