Marine renewable energy is largely an untapped resource, with the potential to provide new energy, economic, and environmental benefits for Canada. Harnessing the power of the tides, waves, offshore wind and rivers can provide a clean, sustainable electricity source, contribute to action on climate change, spur industrial growth by capitalizing on skills and assets already present in other sectors, and create a game-changing opportunity for remote communities – many of which continue to rely on imported diesel to generate electricity.
The marine renewable energy sector continues to show promise as a contributor to our low-carbon economy, with the global installed capacity doubling from 2016 to 2017. And through this period of growth, Canada has emerged as a global leader. Over the past decade, the Canadian sector has established supportive policy, made key investments in technology demonstration infrastructure and technical and environmental research, and spurred activity by connecting a steadily growing supply chain of Canadian businesses. As a result, Canada is often recognized for its strategic approach, building the experience, knowledge, and innovation necessary to advance the Canadian sector.
The 2018 State of the Sector Report provides a detailed summary of Canada’s marine renewable energy sector – providing information on policy drivers, industry progress contrasted with global development, enabling policy and funding, research and innovation activities, and the challenges remaining.