What is wave energy?
Waves are created in the sea by wind blowing over its surface. Initially starting as small ripples, the waves build in size and energy. While they travel vast distances away from the original location of the wind, little energy is lost in the process.
The energy density of waves is typically 5 times greater than that of wind and 10 to 30 times that of solar.
The sea acts as a battery, storing energy from the wind, and transporting that energy, as waves, to our shores.
What is a wave energy converter (WEC)?
A wave energy converter (WEC) is a device that can absorb or harvest energy from waves and convert it into a useful form of energy, such as electricity.
The Anaconda Lobe-Tendon extracts energy from waves via transfer of energy from the sea wave to the internal bulge waves, which travel along the length of the tube. A power take-off is located at the stern of the tube to transfer the energy in the bulge to a useful form of energy.
What are the benefits of wave energy?
Wave energy is a zero-carbon energy source that can be used as part of a diverse portfolio of renewable energy sources to meet net-zero targets and help limit global temperature increase.
Wave energy is predictable, varies with the same annual trend as energy demand (higher in winter and lower in summer), and has a power profile that complements other renewable energy sources (e.g. waves don’t stop when the sun sets, or wind dies down). As a result, not only does wave energy have the potential to help increase our total use of renewable energy, but it can also lower the cost to run a low-carbon grid.
What is the opportunity?
It has been estimated that the global potential wave energy resource is over 30,000TWh per year. To put this in context, the total global electricity consumption in 2023 was just under 30,000TWh. Not all the of the potential resource will be exploitable, however, it has been estimated that there is a technically exploitable resource in the UK that is sufficient to meet 10%-20% of its electricity consumption.
Analysis has shown that wave energy converters have the potential to be cost-competitive with offshore wind by 2035. While the European Commission have a deployment target of at least 40GW (ocean energy) by 2050 (enough to power 37 million households), with a GVA in the region of 100 bn EUR and creation of 500,000 jobs by 2050.
