TP Ocean has published a report identifying challenges that need to be overcome to accelerate the commercialization of the ocean energy sector.
The European Technology and Innovation Platform for Ocean Energy (TP Ocean) has released a report listing 29 challenges that are categorized as related to either technology, finance, or environment and socio-economics.
The identified challenges are prioritized according to importance for the sector and the ability of TPOcean to contribute to solutions.
Out of 29 challenges, 14 are considered to need more urgent address, according to TP Ocean.
Six are technological, four relate to finance and four are socio-economic or related to the environment.
Some of the priority challenges include developing novel concepts for improved power-take offs (PTOs), increasing device reliability and survivability, providing warranties and performance guaranties, and establishing long term revenue support.
The remaining 15 identified challenges cannot be overlooked, but may be tackled with less urgency, TP Ocean has noted.
TPOcean said it will host a range of knowledge exchange activities with topics based on the priorities identified in the report.
It will also work to identify the stakeholders best suited to tackle each priority challenge, along with the geographical scale at which each challenge should be addressed, TP Ocean added.
TP Ocean is regarded as an advisory body to the European Commission. It is managed by Ocean Energy Europe and the University of Edinburgh, bringing together around 250 experts from 150 organizations covering the entire European ocean energy sector.