The rapporteur and the key interested actors in the development of ocean energy technologies stress that the sector has a huge potential as it could provide up to 15 % of the EU energy needs by 2050. However barriers to ocean energy development and deployment exist, notably the high costs and the risk profile of the technology, transmissions grids and networks, complex licensing and consenting procedures (environmental impact) as well as lack of stable finance support.

 

Some regions have already included ocean energy in their smart specialisation strategies. It is crucial, added the rapporteur, that the leading regions work together to avoid duplication of efforts and to bring the cost of technologies down by sharing best practices, data and poling resources.