www.sustainablebusiness.com
10/05/2009
A second-generation wave-power device is ready for testing in the waters off Britain's northern islands, according to a Reuters report. German power company E.ON (EOAN.DE) ordered the device--called a sea snake--from Scotland-based Pelamis Wave Power. Marine- and hydrokinetic-generated power from the world's oceans could grow to provide 2.7 GWs (GW) of power generation capacity by 2015, according to a recent analysis by Pike Research. The World Energy Council has estimated that wave energy could provide up to 10% of global energy needs, creating about a $790 billion market. The Sea Snake represents a relatively mature technology, and the ocean power industry has been compared to the wind energy industry of about 20 years ago.
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