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Building a wave energy policy focusing on innovation, manufacturing and deployment

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  • Dalton, G.
  • Ó Gallachóir, B.P.

Abstract

The Irish Government has set a goal to make Ireland a world leader for research, development and deployment of ocean energy technologies. Ireland has a wave energy resource of 21Â TWh and an ambition is to achieve at least 500Â MW installed generating capacity from ocean energy by 2020. This paper investigates what is required to move from ambition to delivery. A successful wave energy strategy will require focused policies that will stimulate innovation to develop the technologies, manufacturing to produce the devices and deployment to build the required wave power plants. The paper draws on the successful policies in Ireland that have stimulated each of these dimensions, albeit for different sectors. From 2004 to 2008, successful policies in (ICT and biotech) innovation led to an increase in Ireland's Innovation Index score from 0.48 to 0.53. The policy focus on (food and pharmaceuticals) manufacturing in Ireland resulted in high levels of economic growth over the period 1998-2002, reaching >10% GDP growth levels per annum, and full employment. Successful wind energy policies deployment has accelerated rapidly since 2003 and reached 1.2 GW installed capacity in 2009 representing 15% of Ireland's total installed capacity. The paper draws on appropriate elements of these policies to build a successful wave energy policy for Ireland. It also draws on the successful policies adopted in Denmark for innovation, manufacturing and deployment of wind energy. The Danish wind turbine manufacturers hold a world market share of approximately 40%. The paper proposes establishing a wave energy strategy group to develop an action plan to deliver the 500Â MW. It also proposes a novel extension of corporate tax specifically for wave energy companies, an initial 30% capital grant scheme for wave energy developers, a grid code for wave energy devices and fast tracking of planning decisions through an amended approach to strategic infrastructure.

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  • Dalton, G. & Ó Gallachóir, B.P., 2010. "Building a wave energy policy focusing on innovation, manufacturing and deployment," Renewable and Sustainable Energy Reviews, Elsevier, vol. 14(8), pages 2339-2358, October.
    • Handle: RePEc:eee:rensus:v:14:y:2010:i:8:p:2339-2358
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    References listed on IDEAS

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    5. Sun, Yunpeng & Bao, Qun & Siao-Yun, Wei & Islam, Misbah ul & Razzaq, Asif, 2022. "Renewable energy transition and environmental sustainability through economic complexity in BRICS countries: Fresh insights from novel Method of Moments Quantile regression," Renewable Energy, Elsevier, vol. 184(C), pages 1165-1176.
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    10. Andersson, Johnn & Perez Vico, Eugenia & Hammar, Linus & Sandén, Björn A., 2017. "The critical role of informed political direction for advancing technology: The case of Swedish marine energy," Energy Policy, Elsevier, vol. 101(C), pages 52-64.
    11. Theodoridou, Ifigeneia & Karteris, Marinos & Mallinis, Georgios & Papadopoulos, Agis M. & Hegger, Manfred, 2012. "Assessment of retrofitting measures and solar systems' potential in urban areas using Geographical Information Systems: Application to a Mediterranean city," Renewable and Sustainable Energy Reviews, Elsevier, vol. 16(8), pages 6239-6261.
    12. Guo, Pibin & Wang, Ting & Li, Dan & Zhou, Xijun, 2016. "How energy technology innovation affects transition of coal resource-based economy in China," Energy Policy, Elsevier, vol. 92(C), pages 1-6.
    13. O'Connor, M. & Lewis, T. & Dalton, G., 2013. "Operational expenditure costs for wave energy projects and impacts on financial returns," Renewable Energy, Elsevier, vol. 50(C), pages 1119-1131.
    14. Foley, A.M. & Ó Gallachóir, B.P. & McKeogh, E.J. & Milborrow, D. & Leahy, P.G., 2013. "Addressing the technical and market challenges to high wind power integration in Ireland," Renewable and Sustainable Energy Reviews, Elsevier, vol. 19(C), pages 692-703.

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