Power and Energy Directly from Water
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13.5 GrOWth OF hydrOKinetiC enerGy and
OteC indUstries and COst OF hydrOKinetiC
and OteC POWer
A 2005 report by the EPRI estimated that some US utility-scale wave power projects
could produce electricity for about 10 cents per kWh once the technology has fully
matured [37,40,44,90] (Dixon et  al., 2008, pers. comm.). They indicated that the
present state of technology makes hydrokinetics a long-term investment opportunity,
with potentially significant but highly uncertain returns.
A recent report by Pike Research [90] is, however, much more optimistic about
the future growth of marine and hydrokinetic energy industry and pricing of hydroelectric power. Based on their own analysis, they made following assertions on the
five chosen technologies:
1. Tidal stream turbines. These projects comprise over 90% of today’s marine
kinetic energy projects. However, majority of them depend on first-generation
“barrage systems” that still rely on storage dams. The cost of power generation using these technologies is predicted to be 17 cents per kWh for
10 MW industry to as low as 4–9 cents per kWh for 100 MW industry. The
target for this industry is 5 cents per kWh [90].
2. Ocean wave energy technologies. These “metal snake technologies” can
span 600 ft floating on ocean wave horizontally. The generators can also be
erected vertically akin to a buoy. Any western coastline in world has this
wave energy potential. The cost of power generation for these technologies
is 30 cents per kWh for 10  MW industry and 5–32 cents per kWh for
100 MW industry. The target for the industry is 5 cents per kWh [90].
3. River hydrokinetic technologies. This relies on the kinetic energy of
moving water and it can be enhanced by tidal waves particularly at the
intersections of river with sea or ocean. Alaska rivers are well suitable for
these technologies. The cost of power generation by these technologies is
<65 cents for 10 MW industry and about 18 cents per kWh for 100 MW
industry. The target price for these technologies is 7–10 cents per kWh [90].
4. Ocean current technologies. This applies to deeper ocean currents near the
shoreline. As mentioned in the Section 13.3, they are getting more attention
in the recent years. The cost of power production for these technologies is
about 20–40 cents for 10 MW industry. The data for the larger power plants
using these technologies are not available. The target price for these technologies is 5 cents per kWh [90].
5. OTEC technologies. These technologies capture the energy from the difference
in temperature between the ocean surface and lower depths. They can deliver
power 24 h a day. The cost of power production for these technologies is >40
cents per kWh for 10 MW industry and >20 cents per kWh for 100 MW
industry. The target price for these technologies is 15 cents per kWh [90].
Pike Research [90] in their two quarterly reports in 2012 projects very upbeat growth
projections for marine and hydrokinetic energy productions. As shown in Figure 13.10,