Achieving the CEI 2020 goal via Ocean Energy

In the CEI report the government has established a goal of having 20% of Australia’s electricity being produced from renewable sources by 2020. This equates to 8875GWh (Giga watt hours) [1]. Analysis of oceans along Australia’s southern coastline shows wave conditions in this area would allow for capture of electricity 97.5% of the year [2].

For every 1 MW (Mega Watt) wave farm, extracting electricity 97.5% of the year will produce 8.541GWh a year ( 1MW =1000GW). Even calculated conservatively at only 80% power out put for a 1MW station will be 7GWh a year. This would mean only 1268 MW capacity of wave farms in operation will meet the Governments 20% renewable energy target. The World Wildlife Federation (WWF) and Carnagie report on ‘Australia’s Wave Energy Future’, anticipates that Carnagie’s (CETO) technology alone could exceed this goal providing 1500MW of wave farm capacity by 2020 [3]. Ocean Power alone can meet and surpass the Governments renewable energy goal.

Click on this link to download the PDF of the complete report in to Wave Energy by Carnagie & WWF and to read more into WWF campaign for renewable energy.

http://www.wwf.org.au/ourwork/climatechange/powertochange/

Ocean power can meet this goal by producing electricity at a cost, according to a cost comparison by Unenergy, less than that of coal and nuclear power and at approximately the same cost as wind power [4]. Currently the Australian government supports the use of fossil fuels with 6 billion dollars worth of subsidies a year [5]. By redirecting just some of this budget, the government would be able to start producing electricity sourced for the ocean in Australia now.

1. Australian Government, Office of the Renewable Energy Regulator, http://www.orer.gov.au/legislation/index.html#act-amendments.

2./3. World Wildlife Fund, Power to Change: Australia’s Wave Energy Future report, http://www.wwf.org.au/ourwork/climatechange/powertochange/.

4. Unlimited Natural Energy: Cost Comparison of Energy Supply Technologies, http://unenergy.org/.

5. Chris Reidy, Public Subsidies and incentives to fossil fuel production and consumption in Australia: A DraftDiscussion Paper, University of Technology Sydney, November 2001. www.isf.uts.edu.au/publications/reidy.htm.