Making waves: Harnessing the power of ocean energyAccording to GlobalData, harnessing just a small portion of marine energy (tidal and wave power) could solve the majority of the world's energy crisis. Australia has been dabbling in the marine energy market recently in an effort to take advantage of the fact that the Southern ocean is considered one of the most consistent sources of wave energy in the world. Australia's coastline alone is estimated to be able to produce four times that nations power needs, the research says. Further, the kinetic energy of the tides along the Australian coast has an estimated 678 GWh of power generation potential. Australian companies are in the process of developing financially viable marine energy technology moving closer to commercialization. Oceanlinx and Carnegie Corporation are already installing demonstration projects in Australia. Australian universities are also developing marine technology, including the University of New South Wales' Water Research Laboratory, the University of Tasmania's Australian Maritime College, and the University of Sydney. For more: Related Articles: |