Tidal Energy To See Major Expansion This Decade
The global wave and tidal energy market is expected to grow from $0.58 billion in 2021 to $4.41 billion by 2028.
The U.K. continues to compete with the EU over tidal power dominance, with the EU having installed around half of the world’s new wave energy capacity in 2021.
In the U.S., several tidal projects are already underway, with more expected to follow this year.
Related Knowledge Center: ENERGY BASICS: renewables
Renewable energy sources — once the fuel of the future, then practical in specific, narrow applications — are increasingly economic mainstream sources of power generation. Hydropower was long the mainstay of U.S. renewable electricity generation, although wind power surpassed hydro for the first time in 2019, and solar continues its rapid growth. The continued growth of wind and solar, with their fluctuations, is tied in part to improvements in storage technology: batteries.