On average, approximately 40% of the world’s population lives within 40 kilometers (25 miles) of a coastline. This reality underscores the strategic value of wave energy, which can deliver low-carbon, grid or off-grid local power to provide a solution to water scarcity and meet the rising demand for electricity in the world’s Blue Economies.
With its unique ability to serve coastal, island, and remote communities and businesses, wave energy opens the door to a wide array of high-impact market opportunities. These range from powering critical infrastructure and desalination plants to supporting aquaculture, tourism, and low carbon industrial development.
Below is an illustration of key target markets where wave energy can play a transformative role:
Water supply: Provides a dedicated supply of water for cooling and other operational needs, leading to reduced reliance on local water supplies.
Energy Supply: Provides supplemental electricity leading to reduced demand on the grid. Also provides long term price stability.
Water Supply: Provides an independent source of freshwater to drought-proof water supplies without increasing demand on existing supplies. Also, sources cleaner offshore seawater, leading to reduced land-based treatment costs.
Energy Supply: Provides supplemental electricity, leading to reduced exposure to electricity price volatility, while providing long-term price stability.
Water Supply. Provides drought-proof sources of water for operations leading to reduced reliance on municipal water supplies, groundwater or river systems.
Energy Supply. Provides supplemental electricity leading to reduced demand on the grid. Also provides long term price stability.
Water supply: Rapid-deployment desalination systems powered by wave energy to support climate resilience and emergency response.
Energy supply: Onboard energy storage can provide rapid supply of supplemental electricity.
Water supply: Wave-powered desalination units for naval bases, remote surveillance stations, or island outposts.
Energy Supply: Energy independence and resilience – secure microgrids using wave power to maintain operations even if grid connections are lost.
Water supply: Supplementary or backup desalination powered by local wave energy to lower costs and carbon footprint providing water for cleaning, cooling, processing, or ship services.
Energy Supply: Supplement grid-supplied electricity to power electric vessels, reduce costs, lower-emission energy and power cranes, cold storage, and logistics.
Water supply: Wave-powered desalination can augment water supplies for irrigation or livestock.
Energy Supply: Power for pumps, chillers, lighting, and sensors. Provides 24/7 clean power, even when solar/wind are intermittent.
Water supply: Sustainable desalination systems to supply water without environmental degradation or high operational costs.
Energy Supply: Power sustainable tourism without diesel generators or grid expansion.
Water supply: Can supply drinking water, sanitation, and small-scale agriculture without relying on fuel imports or expensive infrastructure.
Energy Supply: Supplements the grid or provides off-grid resilient power for homes, schools, clinics, and small businesses. Reduces fossil fuel dependency, lowers emissions, and stabilizes energy supply and costs.
Water supply: Used for parasite prevention, cleaning biofouling, desalting equipment, drinking water for crew, sanitation and food preparation, and emergency response.
Energy Supply: Reduce diesel consumption, reduce grid-supplied electricity as costs rise and provide energy resilience for production facilities.
Water supply: On-site desalination fresh water for personnel, maintenance, and operations reduces the need to transport fresh water by vessel or pipeline.
Energy Supply: Microgrids on floating platforms (e.g., aquaculture, offshore wind substations, oil rigs) using wave energy for continuous, unattended power – reducing need for diesel generators.