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Monday, 06 July 2026

ocean energy

Ocean Energy Report Confirms Huge Untapped Potential

A new report published by Ocean Energy Europe reveals that ocean energy can supply 13% of global electricity demand and 21% of current EU consumption. “Ocean Energy: The Largest Untapped Renewable Resource ” is the first global assessment of wave and tidal energy resources. 
Courtesy of Ocean Energy Europe
Courtesy of Ocean Energy Europe

Bringing together over 70 governmental and academic studies, it showcases the best areas country by country. The report confirms that ocean energy can become a major source of renewable electricity alongside wind and solar, helping to decarbonize power systems and fend off more frequent 40°C heatwaves.

The global resource is only set to grow, as technologies improve, and innovation unlocks new geographical areas. Many regions are yet to quantify their resources, so that today's figures likely underestimate the sector's long-term potential.

Ocean Energy can produce 21% of European electricity – more than fossil gas or hydroelectricity today.

The UK and France host some of the world's best tidal resources. Wave energy alone could meet over 100% of electricity demand in Ireland and Portugal, 55% in the UK and over 30% in Spain.

Technological progress and new studies have significantly increased Europe's assessed potential compared with previous estimates. Europe has the opportunity to leverage its technological leadership to secure a large share of the global market.

Beyond Europe, the report highlights significant opportunities around the world.

  • 36% of electricity demand across the Americas. The US and Canada have the highest surveyed potential, although Brazil and Chile could cover 20% of their demand with just wave energy. The United States are rapidly increasing investment through substantial Department of Energy funding programs and could challenge Europe's leadership.
  • Abundant wave and tidal resources in Asia and Oceania. Tidal can meet 100% of demand in the Philippines and over 50% in Indonesia. Japan is installing its first tidal turbines. China included the “large-scale development of ocean energy” in its 14th Five-Year Plan and is supporting pilot projects through targeted funding.
  • Considerable unassessed potential in Africa and Small Island Developing States. However, most countries are yet to quantify their resources, leaving a significant data gap.

The report was launched during a webinar on June 29 featuring contributions from the International Renewable Energy Agency (IRENA), the European Commission, and Ocean Energy Europe.

James Walker, Team Lead, IRENA, said,  "Comprehensive renewable energy resource assessments are an essential foundation for developing the policy and strategy frameworks which deliver energy transition progress. This study highlights both the significant global potential of ocean energy, and the need to expand data collection, harmonize assessment methodologies and support more countries in understanding their marine energy resources."

Rémi Gruet, CEO of Ocean Energy Europe, said, "This assessment confirms that ocean energy is not a niche technology. The resource is abundant, the technology is progressing, and countries that move first will secure industrial leadership, export opportunities and home-grown renewable electricity. The next step is to translate this global potential into commercial deployment."

Full report here
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