UK: Wave, Tidal Power Costs to Drop 80 Pct by 2050
Carbon Trust’s head of technology acceleration, Stephen Wyatt, predicts a big decrease in costs of wave and tidal power in Britain, which can be achieved with further R&D that will make installation and O&M methods more efficient.
Reuters has brought Mr. Wyatt’s forecast from a briefing held in London, according to which the price of energy from these two resources could drop to the current price of offshore wind power by 2020-2025. That would be a 50% price decrease, with a further cost reduction up to 80% by 2050.
Wave and tidal energy is currently much more expensive than that generated by other renewable sources, since it is an emerging sector that has a variety of technologies and its commercial feasibility is yet unproven at large-scale.
On the other hand, wind and nuclear energy costs could also decrease considerably and it is not easy to predict what will be the wholesale electricity price.
Offshore WIND staff, July 30, 2012