New analysis from Frost & Sullivan, ‘Tidal Energy: Current Status and Future Outlook’, provides a technology overview of the different tidal energy technologies available in the market and also technologies which are being developed currently.
The report finds that the United Kingdom is the front runner in the development of new tidal energy solutions buoyed by an ideal tidal pattern and a supportive regulatory scenario.
It is followed by Canada, China and South Korea who are also showing steady progress, and the United States which is listed as one of the top innovators in the field, Frost & Sullivan’s press release reads.
The study discusses various technical features in a tidal energy system and also the tidal energy scenarios regarding funding, R&D initiatives, and tidal energy projects in different regions across the globe.
Lekshmy Ravi , Technical Insights Research Analyst and one of the research authors of the report, said: “The success of smaller demonstration plants will propel the immediate adoption of tidal stream and tidal barrage technologies. The deployment of hybrid energy systems consisting of a combination of tidal and offshore wind energy seems probable in the long term.”
Restraints and drivers of the industry have also been identified and discussed in the study, in addition to the technology management strategies implemented by different companies and provided charted technology roadmap.
Experimental new concepts such as dynamic tidal power generation, which enable production even in low-tide regions, are also discussed in the study.
The setting up of R&D centres and funding institutions dedicated to the cause of tidal energy generation will be crucial to speed up advancements, Frost & Sullivan’s press release reads.
“Stakeholders must build a coordinated, multi-disciplinary strategy for tidal power to continue creating ripples in the renewable energy sector,” urges Ravi . “A concerted approach by regulatory agencies, technology developers, funding bodies and infrastructure firms will open the floodgates of development and give rise to tidal energy solutions with significant industrial and societal value.”
Frost & Sullivan is a consulting company which provides market research and analysis, growth strategy consulting, and corporate training services across various industries.
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