In a new report released on April 14, 2021, the National Hydropower Association (NHA) announced new industry deployment targets of 50 MW by 2025, 500 MW by 2030, and 1 GW by 2035.[1] The report, titled “Commercialization Strategy for Marine Energy,” considers the accelerated commercialization of marine energy technologies that generate electricity from waves, tides, and currents in oceans and rivers, as well as from the ocean's heat cycles. The NHA report follows the release of a Department of Energy (DOE) report on marine energy released in February 2021 that found that the total marine energy resource in the U.S. is roughly equivalent to 57% of U.S. electricity generation in 2019. The NHA report argues that marine energy could be essential for remote areas of the U.S. dependent on fossil fuels by providing zero-carbon power generation without the need for expensive new transmission lines. Marine technologies could also help produce green hydrogen and could be a strong complement to more intermittent renewable technologies.

The NHA report calls for the federal government to accelerate the commercialization of marine energy technologies by increasing financial support for research development, reducing market barriers, and creating financial incentives for marine energy deployment. Specifically, the NHA is looking for substantial new investments in the DOE’s Water Power Technologies Office and the Navy Energy Program, which will accelerate technology demonstration, reduce costs, and increase technology adoption.

[1] https://www.hydro.org/wp-content/uploads/2021/04/NHA_MEC_Commercialization_Strategy_Marine_Energy.pdf