Trade association Ocean Europe Energy has called on the UK government to back the wave and tidal technology to help developers accelerate cost reduction.
Speaking at the opening session of the Ocean Energy Europe conference in Edinburgh, chief executive Remi Gruet (pictured) said cost reduction of wave and tidal power is “inevitable” but policy will dictate how fast.
Gruet said wave and tidal is very similar to wind turbines, the cost of which have reduced by 38% since 2010.
“The manufacturers are close to the resource and they use the same supply chain,” he added.
“There is no doubt costs will go down, but it depends on volume of installation.”
An ORE Catalpult report published earlier this year showed ocean energy costs have already come down, he added.
“We are here to remind the UK government that support for ocean energy is very strong,” he added.
The OEE chief also announced next year’s conference would return to Dublin.