“Climate change is the biggest threat to our planet. It is entirely a man-made problem and cannot be reversed but we can slow the effects to allow time to adapt”
What changes are needed?
Extensive electrification, particularly of transport and heating, supported by a major expansion of renewable and other low-carbon power generation
Resource and energy efficiency, that reduce demand for energy across the economy
Societal choices that lead to a lower demand for carbon-intensive activities
Development of a hydrogen economy to service demands for some industrial processes, for energy-dense applications in long-distance HGVs and ships.
Carbon capture and storage (CCS) in industry, with bioenergy (for GHG removal from the atmosphere), and very likely for hydrogen and electricity production.
Need for Renewable Energy
Renewable growth will accelerate in 2021 as part of the Paris Climate Accord and in the run up to COP 26 in Glasgow this November.
Investment into clean energy is expected to exceed $2 trillion to fully decarbonize the power sector by 2035 in order to achieve a larger goal of net-zero carbon emissions by 2050.
The UK is on track to meet its carbon budget for 2022 but fail the next in 2027 so it has to accelerate its action plans.
Net zero targets are equivalent to 100% reduction in emissions which is even more challenging than the COP21 Paris Agreement. Huge levels of investment are required to achieve these targets.
Tidal Energy Market
“Tidal energy is the only form of predictable renewable energy. It is regular as clockwork, generating energy 364 days a year”.
Why is Tidal Energy Important
Tidal energy is driven by the gravitational pull from the moon and the sun which makes it the only 100% predictable form of renewable energy.
When there is no wind and at night when there is no solar then tidal can keep generating directly offsetting the use of fossil fuels to provide essential capacity.
The resource is typically well distributed around coastal towns and ports which serves centres of population.
Other forms of renewables, such as wind and solar, are reaching saturation point.
Tidal power is a good fit for producing Green Hydrogen given it’s near constant generation of power.
UK Tidal Market
The UK is blessed with tidal energy with the 2nd largest tidal resource in the world.
Tidal energy can supply up between 5% and 16% of the UK’s energy consumption.
The UK Government have committed to Net zero carbon targets by 2050 and in so doing set out a strategy for decarbinisation.
Since tidal energy is so predictable and regular it makes for very efficient energy storage when combined with batteries.
Global Tidal Market
Pictured left is the global tidal resource map where the areas in red denote the largest markets
100GW global tidal market worth an estimated $76bln
Key tidal markets include Canada, Indonesia, Japan, South Korea, China and Chile .
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