In this report, Greentech Media and the Prometheus Institute for Sustainable Development address the underlying fundamentals that will determine when ocean power technologies will become competitive with other renewable and traditional energy sources, what technologies will bring the industry to that point, and how investment, government policies and power sector buy-in will drive the growth of this industry. While today fewer than 10 MW of ocean power capacity has been installed worldwide, we believe that in six years the industry has the potential to break 1 GW of installed capacity on an annual market size of over $500 million.
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