Damon Mcknight
Australia has an abundant and attractive wave energy resource, with ocean currents off the East coast offering a potentially large energy resource. However, the extraction of ocean energy is still in its infancy, with limited funding and initiatives for ocean energy projects. Despite this, the Australian Ocean Energy Group (AOEG) is working to fast-track market demand for ocean energy projects, with the aim of creating viable markets for this clean and infinite resource. With the potential to contribute 11% of Australia's energy needs by 2050, the development of the ocean energy industry in Australia could have an incredible impact.
| Characteristics | Values |
|---|---|
| Status of ocean energy in Australia | A clean and almost infinite resource with incredible potential but demand for and investment in ocean-based energy solutions is still in its infancy |
| Australian Ocean Energy Group's (AOEG) primary aim | Accelerate the commercialisation of wave and tidal energy into Australia's energy resource mix, by creating viable markets for ocean energy |
| AOEG's first phase of its Market Investigation | Completed in June 2022 |
| AOEG's funding | Climate-KIC Australia and National Energy Resources Australia |
| AOEG headquarters | 377 Kent St Ste 302, Sydney, New South Wales, 2000, Australia |
| AOEG's competitors | BPS Energy, Atherton Solar Farm, Asian Renewable Energy Hub, Infinergy Pacific |
| ARC-funded ocean energy projects in 2024 | University of Western Australia (UWA), Royal Melbourne Institute of Technology (RMIT), Swinburne University, University of Adelaide, and the University of New South Wales (UNSW) |
| Government support | Western Australia (through the Department of Primary Industries and Regional Development) and the Commonwealth Government (through the Offshore Electricity Infrastructure Act 2021) |
| Challenges | Understanding the sustainable level of ocean energy extraction and its competitiveness with other energy technologies |
| Benefits of ocean energy | Greater predictability and availability compared to other renewable energy sources |
| Potential contribution of wave energy to Australia's energy needs by 2050 | 11% |
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What You'll Learn
The Australian Ocean Energy Group (AOEG)
AOEG's primary goal is to fast-track market demand for ocean energy projects across Australia, with a specific focus on wave and tidal energy. By creating viable markets for ocean energy, they aim to address key market needs, including decarbonisation, electrification, reliability, safety, and predictability of supply.
AOEG achieves this through collaboration and partnership with diverse organisations and industrial sectors. They work with potential end users to align technologies with market demands and foster an innovation-driven, entrepreneurial ecosystem. AOEG also completed an Ocean Energy Market Investigation in June 2022, providing evidence to support the development of ocean energy markets.
AOEG is establishing the world's first Integrated Ocean Energy Marketplace in Albany, WA. This "Marketplace" will mirror a commercial, integrated ocean energy system that generates and sells electricity to its customers.
AOEG is a not-for-profit organisation funded by Climate-KIC Australia and National Energy Resources Australia. They have collaborated with key stakeholders, including AZURA Ocean Technology and ATTERIS, to explore innovative solutions such as wave energy converters and tidal turbines, harnessing the power of the ocean.
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Wave and tidal energy
Ocean energy is classified into tidal energy, wave energy, and ocean thermal energy. Australia has a long and largely deep-water coastline, making it one of the few regions in the world where wave power projects are viable. The Southern Ocean's strong winds produce consistently large waves, making them ideal for wave energy production.
Wave power in Australia is still in its infancy, with only a few projects currently underway. One notable project is the Perth Wave Energy Project, which received a $66.46 million grant from the federal government. This project involves developing a 19-megawatt wave power station connected to the grid near Portland, Victoria. Additionally, Wave Swell Energy installed a successful trial wave generator unit in the harbour at Grassy, King Island. This 200 kW unit is connected to the island's existing microgrid, which also utilizes wind, solar, battery, and diesel energy.
Carnegie is also developing Australia's first commercial wave farm on Garden Island, near Perth, Western Australia. The project was due to be completed by mid-2014, but it is unclear if it was finished on schedule. This project involves using a series of large buoys tethered to piston pumps anchored in waters 15 to 50 meters deep. The rise and fall of the waves drive these pumps, generating water pressures of up to 1,000 pounds per square inch (psi).
Tidal energy, on the other hand, has seen limited progress in Australia. Assessment of tidal energy resources is restricted to the tide kinetic energy present on Australia's continental shelf, where tidal currents are minimal. Western Australia has locations with high tidal kinetic power, delivering a total annual tidal kinetic energy of over 195 GJ/m2. However, transmission losses are expected for tidal energy converters located far from shore.
Despite the challenges and limited progress, the Australian Ocean Energy Group (AOEG) is actively working to accelerate the commercialization of wave and tidal energy. AOEG is establishing the world's first Integrated Ocean Energy Marketplace in Albany, WA. This marketplace will mirror a commercial, integrated ocean energy system that generates and sells electricity. By creating viable markets for ocean energy, AOEG aims to address market needs, including decarbonization, electrification, reliability, safety, and predictability of supply.
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Government support
The Australian Ocean Energy Group (AOEG) is an industry-led cluster that aims to develop markets for ocean energy and facilitate collaboration within the wave and tidal energy industry. The AOEG is currently establishing the world's first Integrated Ocean Energy Marketplace in Albany, WA. This marketplace will mirror a commercial, integrated ocean energy system that generates and sells electricity to its customers.
The Australian government has shown support for the development of ocean energy through various initiatives and funding opportunities. The Clean Energy Finance Corporation (CEFC) promotes private investment in large-scale commercial clean energy projects and provides concessional funding for interconnector initiatives. The Australian Research Council (ARC) has also funded ocean energy projects across various institutions, including the University of Western Australia (UWA), Royal Melbourne Institute of Technology (RMIT), Swinburne University, the University of Adelaide, and the University of New South Wales (UNSW).
The Cooperative Research Centre (CRC) program facilitates collaboration between industry and research sectors, supporting initiatives such as the Blue Economy CRC and the CRC-P program. The CRC-P program helps Australian industries compete and produce in the short term, including funding for WaveX in partnership with UWA and the Norwegian Geotechnical Institute (NGI).
The Commonwealth Government has also released the draft Australian Sustainable Ocean Plan and the Offshore Electricity Infrastructure Act 2021, which supports offshore renewable energy area declarations. State governments, particularly in Western Australia, have actively supported research and development through initiatives like the MERA offshore renewable energy program.
Despite these efforts, specific support for ocean energy remains limited, and demand for and investment in ocean-based energy solutions is still in its early stages in Australia. However, with the ocean providing an abundant and attractive wave energy resource, there is potential for it to contribute significantly to Australia's energy needs by 2050.
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Challenges and technological advancements
The Australian Ocean Energy Group (AOEG) is an industry-led cluster that aims to accelerate the commercialisation of wave and tidal energy in Australia's energy resource mix. Despite the vast potential of ocean energy as a clean and almost infinite resource, demand for and investment in ocean-based energy solutions in Australia is still in its infancy.
One of the main challenges in the Australian ocean energy industry is the limited support and funding for ocean energy projects. While the Australian Research Council (ARC) and the Clean Energy Finance Corporation (CEFC) have provided funding for ocean energy projects and promoted private investment in large-scale commercial clean energy projects, specific support for ocean energy remains largely limited to ARC-funded initiatives.
Another challenge is the early stage of development and the technological and oceanographic obstacles that need to be overcome. For example, the extraction of ocean current energy is in its very early stages and requires further technological advancements to become a viable solution. Similarly, the design of Wave Energy Converters (WECs) has not yet converged on a common system, and the magnitude of Australia's wave energy resource has not been sufficiently quantified.
In addition, the viability of Ocean Thermal Energy Conversion (OTEC) in Australia is limited to the coast of Far North Queensland due to the limited availability of warm sea water, which is necessary for this technology. As a result, further assessments of OTEC viability for Australia are considered a lower priority.
To address these challenges, organisations like AOEG and CSIRO are working to strengthen partnerships and collaborations between diverse organisations and industrial sectors to accelerate the development of ocean energy projects. They aim to reduce the time from concept to commercialisation and overcome barriers for ocean energy development.
Furthermore, the establishment of the world's first Integrated Ocean Energy Marketplace ("Marketplace") in Albany, WA, will provide a platform for demonstrating a commercial, integrated ocean energy system that generates and sells electricity. This initiative will play a crucial role in advancing the ocean energy industry in Australia and beyond.
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Potential and future projections
The Australian Ocean Energy Group (AOEG) is an industry-led cluster that aims to create viable markets for ocean energy in Australia. The AOEG is currently establishing the world's first Integrated Ocean Energy Marketplace in Albany, WA. This marketplace will serve as a commercial, integrated ocean energy system that generates and sells electricity to its customers.
While ocean energy is a clean and almost infinite resource, demand for and investment in ocean-based energy solutions is still in its infancy in Australia. The ocean provides an abundant source of renewable energy, and Australia has an attractive wave energy resource. Preliminary estimates suggest that wave energy could contribute up to 11% of Australia's energy needs by 2050.
However, there are challenges in understanding the sustainable level at which ocean energy resources can be utilized, and whether they can be competitive with other energy technologies. The design of wave energy converters (WECs), for example, has not yet converged on a common system. Additionally, specific support for ocean energy remains limited, with funding and focused initiatives primarily related to ARC-funded projects and the Offshore Electricity Infrastructure Act 2021.
To address these challenges, the Cooperative Research Centre (CRC) program facilitates collaboration between industry and research sectors. In 2024, the Australian Research Council (ARC) funded ocean energy projects across various institutions, and the Clean Energy Finance Corporation (CEFC) continues to promote private investment in large-scale commercial clean energy projects.
With the right support and investment, Australia has the potential to become a global leader in renewable energy, harnessing the power of its oceans to provide sustainable benefits for the country, businesses, and people.
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Frequently asked questions
The ocean energy industry in Australia is still in its infancy, with limited funding and initiatives. However, the industry is growing, and the Australian Ocean Energy Group (AOEG) is working to accelerate the commercialisation of wave and tidal energy.
The AOEG is an industry-led cluster that aims to create viable markets for ocean energy in Australia. It is a private company with funding from Climate-KIC Australia and National Energy Resources Australia.
Ocean energy is a clean and almost infinite resource that can be harnessed sustainably. It has greater predictability and availability compared to other renewable energy sources, as tides are predictable, and waves have a longer forecast horizon than wind.
One challenge is understanding the sustainable level at which ocean energy resources can be used and if they can be competitive with other energy technologies. Additionally, the extraction of ocean energy is still in the early stages of development and faces technological and oceanographic challenges.
The Cooperative Research Centre (CRC) program supports collaboration between industry and research sectors. The Australian Research Council (ARC) has funded ocean energy projects at various institutions, and the Clean Energy Finance Corporation (CEFC) promotes private investment in large-scale commercial clean energy projects. The Western Australia (WA) Government actively supports research and development through initiatives.
