The latest IPCC report is summarized as ‘Code Red for Humanity‘ by UN Secretary-General António Guterres, stating ‘The alarm bells are deafening, and the evidence is irrefutable: greenhousegas emissions from fossil-fuel burning and deforestation are choking our planet and putting billions of people at immediate risk. Global heating is affecting every region on Earth, with many of the changes becoming irreversible.”
The challenge ahead of us is huge, and we need to act now. On the good side, there are new exciting tools becoming available to fight the climate crisis. One example is Our Oceans, that offer a toolbox with major opportunities that we are currently not making use of.
Ocean energy is one of the largest untapped sources of clean energy on earth. Ocean waves could generate 500GW of clean electricity to coastal locations around the world where most people live. Replacing oil and coal, this provides an CO2 reduction potential of 1-2 Gigatons / year. With a consistent and highly predictable production profile, wave energy can offset the intermittency of wind and solar, offering a new way to fill the gaps when it is not windy or sunny.
An energy mix combining wave, wind and solar energy is more stable and helps clean electricity supply to meet demand at all times of the year. For many places of the world, adding wave energy to the mix offers the most reliable and lowest cost path to transition to a 100% renewable energy system.
There has been significant progress in demonstrating reliable and competitive ocean energy technology in recent years. Several technology developers, CorPower Ocean included, will be ready to start shipping first bankable products to projects in the coming years. Ocean energy is moving out of R&D to become a major commercial opportunity.
We are here to support massive scale-up on a global level.
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