Innovations in Wave Power (Technical Insights) – Moving Towards Reliable and Cost Effective Wave Technologies
This study provides a technology overview of wave power, the drawbacks in the technology, along with a detailed analysis of the technology value chain.The study also discusses in detail the funding and other support infrastructure provided by various governments. The study also charts the drivers and restraints being faced by the industry, the technology development cycle, as well as the technology management strategies being employed. Analytical Hierarchy Process has been used to prioritze the technology with the best potential to be employed for wave energy generation.
Key Findings:
– Wave energy has immense potential to meet global energy demand provided it is able to overcome the existing technical challenges, social apprehensions and gets adequate sustainable funding.
– Commercialization of wave energy at a large scale has not occurred as of now but the future holds good potential with identification of suitable technologies and also incentives from the government
– Offshore wave energy has the highest potential for power generation but to optimize the energy production the wave energy converters (WECs) must be able to survive the rough conditions of the deep seas.
– Point absorbers are the most widely available technology across the different technology developers.
– Major inhibitor for large scale wave energy is the huge initial investment and in some cases apprehension regarding the impact of wave energy on the surroundings, coming from the public and other stakeholders. Another challenge for adoption of the technology is the stability of wave energy converter systems.
– As of now the European region is ahead of the other regions in wave energy deployment, funding and R&D. The number of technology developers is the maximum in region, followed by Australia.
– In the future with progressive and corrective R&D, the most prominent technology would be overtopping devices which are very efficient, though the current level of adoption for commercial scale or pilot scale development has been low.
– Continuous R&D is of extreme importance in this fledgling industry to improve its reliability, efficiency and stability and to achieve continuous improvement. Hence, R&D collaborations would be an essential and ideal way of taking forward the technology development.
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Title Index:
1. Executive Summary
– Research Scope and Objective
– Technical Insights-Research Process and Methodology
– Key Findings
2. Technology Snapshot And Value Chain
– Technology Snapshot
– Technology Value Chain
3. Impact Assessment And Analysis
– Impact of Technology Accelerators/Challenges
– Impact of Market Accelerators/Challenges
4. Diffusion Of Innovation
– Diffusion of Innovation According to Region
– Diffusion of Innovation According to Technology
– Commercialization Status of Wave Energy Projects
5. Opportunity Evaluation And Roadmapping
– Prioritization of Wave Energy Converter Technologies
– AHP Criteria Definitions-Level 0
– Level 1 Criteria Definitions
– Level 1 Criteria Definitions and Priority Values
– AHP Priority Values
– AHP-Key Findings
– Technology Roadmap
– Technology Management Strategies
6. Appendix
– Key Patents
– Key Contacts
– Analytical Hierarchy Process (AHP)
– Legal Disclaimer
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