Australia has abundant ocean energy resource, R&D needs work: study by Sophie Vorrath

Did you know that wave energy has the potential to supply about 11 per cent of Australia’s electricity – the equivalent to powering a city the size of Melbourne – by 2050?

If the results of yesterday's Climate Institute's "Climate of the Nation 2012" report are anything to go by, you probably didn't. Because while that study found overwhelming support among Australians for the development of renewables, most of this was directed towards solar, wind and hydro, with only 25 per cent of respondents nominating wave energy as their most preferred option (although this number still beat out nuclear and coal).

The fact is, not nearly enough is known about ocean renewable energy in Australia – a situation the CSIRO hopes to remedy with its new report, "Ocean renewable energy: 2015-2050." The report, released today – and from which the above fact was gleaned – is the result of the CSIRO's research into understanding the potential of this clean energy source; its overall goal, to inform the ocean energy industry, government and investors about the challenges and potential for the technology.

“Given the potential of ocean energy and the fact that it’s a very new technology, CSIRO wanted to understand what is the sustainable level at which this resource could be used for energy supply and whether it could be competitive with other energy technologies,” said Ian Cresswell, acting director of the CSIRO Wealth from Oceans Flagship. “Assessing the opportunities and challenges from resource to the market is a first for ocean renewable energy in Australia.”