October 27, 2008
New Greentech Media Research Report Forecasts the Worldwide Ocean Power Market to Reach an Annual Market Size of $500M By 2015
Greentech Media Inc., an online media and research firm, and The Prometheus Institute for Sustainable Development, a non-profit devoted to furthering the advancement of alternative energy and sustainable development, today announced the availability of Forecasting the Future of Ocean Power, the industry's most authoritative and comprehensive research report to date on the burgeoning ocean power market. While fewer than 10 MW of ocean power capacity has been installed to date worldwide, the report finds that the market will grow two orders of magnitude to reach 1 GW of installed capacity at an annual market size of $500 million by 2015.
The report examines the underlying fundamentals that will determine when ocean power technologies will become competitive with other renewable and traditional energy sources, what technologies will bring the industry to that point, and how investment, government policies and power sector buy-in will drive the growth of this industry.
Although investment to date in the ocean power market (just over $500 million since 2001) is relatively small compared to other renewable energy market segments, the report finds that more than $2 billion will be invested to build commercial ocean wave power farms and another $2 billion will go towards research and development globally over the next six years. "Venture capitalists have made and will continue to make bets on ocean power even though the market is nascent, and the variety of solutions provides risk given a lack of industry standards," said Rob Day, Principal at @Ventures. "This report does a terrific job of segmenting out the market and the early players, by technology and form factor."
"Ocean power is quickly becoming one of the more exciting market segments in all of renewable energy, and although the market is in its early stages it is poised for significant growth." said Travis Bradford, Executive Director of the Prometheus Institute. "The report provides the most exhaustive coverage of the market that I've seen and is a necessary resource for companies that want a complete understanding of the ocean power market today and going forward."
The 150-page report, complete with more than 80 tables, charts and graphs, includes:
-- An insightful background and forecasting for ocean power relative to the overall renewable energy mix
-- A detailed explanation of ocean power technologies, including wave power, tidal power and fixing technologies
-- A comprehensive outlook of the ocean power industry, including project development and supply chain details, geographic data behind where the industry is located today and going forward, stage stratification and power profiles
-- A focused market view, including policy support and profiles, wave parks and testing facilities, commercial projects and investment inflow
-- Financial analysis covering wave power cost centers and economics, installed system cost, levelized cost of energy and forward-looking financial projections
-- Exhaustive profiles of the 35 most active companies addressing the ocean power market
Detailed information about Forecasting the Future of Ocean Power, priced at $2,995, is available at the Greentech Media site: Click Here.
About Greentech Media
Greentech Media is an integrated online media company designed to deliver the highest-quality content in the industry, whether it is research, news or critical networking events. Greentech Media is headquartered in Cambridge, Mass., with operations in New York City, San Francisco and Munich. For more information, visit http://www.greentechmedia.com.
About The Prometheus Institute
The Prometheus Institute was founded in 2003 to accelerate the deployment of socially beneficial sustainable technologies, including those of energy, water and food, by educating industry participants, advocates and policymakers about their benefits by collecting and disseminating reliable data, quantitative analysis and practical information about these industries. For more information, visit: http://www.prometheus.org.