Expert Elicitation for Wave Energy LCOE Futures
As the world faces increasing threats from climate change, the importance of developing renewable energy technologies and reducing their costs have similarly increased. Marine energy technologies (which include wave, tidal, ocean current, ocean thermal and salinity gradient resources) are often referred to as the most nascent and newest suite of renewable technologies under development. There are vast marine energy resources available around the world and within U.S. territorial waters, and as the technologies have continued to develop, the long-term trajectory of cost reductions and performance improvements is of particular interest. This study specifically investigates the long-term cost reduction potential for commercial wave energy technologies, as wave energy represents the largest marine energy resource available to the continental U.S. Similar studies focused on other resources and technologies may follow in the future.