Policy topics

Many ocean energy technologies have reached a critical moment in their development: the demonstration phase, where pilot farms/plants are put in the water. This phase requires higher levels of investment than RD&I prototypes, alongside the usual challenges associated with innovative technologies. Access to finance is crucial to de-risk ocean energy technologies and increase their competitiveness, but the cost of finance is high – often up to 50% of the cost of the project.

Over the past 10 years, the EU has invested over €375m in ocean energy research, development and innovation (RD&I), through a multitude of funding programmes.

Ocean Energy Europe participates in publicly funded projects where there is a clear benefit to the sector as a whole.

For over 20 years, the European Union has been developing climate and renewable energy policies, designed to achieve the goal of decarbonising the entire EU economy by 2050. Reaching this objective implies a total decarbonisation of the power system, and the large-scale roll-out of all renewable energy technologies - including ocean energy.

Every project installing ocean energy devices in the sea includes measures to monitor potential impacts. All studies to date show that ocean energy has no negative impact on marine ecosystems.