The Tidal Stream Technology Roadmap report, published by the Offshore Renewable Energy (ORE) Catapult, has identified 10 technology innovations that could result in an 80% cost reduction in tidal stream energy, making it lower than current nuclear energy prices – if successfully commercialised, according to ORE Catapult.
The technology innovations highlighted in the 2024 report support 1GW of tidal stream being installed in the UK by 2035, in line with UK Marine Energy Council (MEC) recommendations.
The 10 technology innovations identified by the report for future tidal energy success include subsea hubs, anchors for floating devices, controllers to optimise lifetime turbine performance, cable monitoring and tidal array optimisation.
In an ‘optimistic’ cost reduction scenario outlined in the report, the innovations were projected to support a reduction in tidal stream cost from the current £259/MWh to £50/MWh by 2035.
However, the report also highlights that further research and development in technology innovation will fail to secure an accelerated project pipeline for tidal energy without appropriate policy support to boost continued deployment, and private investment to drive commercialisation. It identifies the need for an increased ringfence for tidal stream energy within the UK Government’s Contracts for Difference (CfD) scheme and reforms to the CfD process to recognise non-price benefits generated by renewable energy projects, such as system integration and supply chain development, rather than focusing on lowest price bids.