New report highlights potential of ocean renewable energy

A new study from the Commonwealth Scientific and Industrial Research Organisation (CSIRO) has suggested a new source of energy might be right at our doorsteps, or rather, our beaches.

In Ocean renewable energy: 2015 - 2050, released July 25, the organisation predicts that ocean renewable energy (ORE) could someday play a large part in generating our nation's electricity.

In fact, CSIRO believes the potential for wave energy is so great that by the year 2050 the ocean could be providing up to 10 per cent of Australian electricity - enough to power a city the size of Melbourne. 

Accessing our nation's renewable energy resources is the key not only to a sustainable future but to reducing the amount we are impacted by electricity prices as well, so the report is exciting news for all Australians.

"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 the CSIRO director of wealth from oceans flagship Ian Cresswell.

"Assessing the opportunities and challenges from resource to the market is a first for ocean renewable energy in Australia."

CSIRO has submitted a list of recommendations aimed at furthering the progress of wave energy technology, including assessing the engineering feasibility of ORE devices.