AOEG completed the first phase of its Market Investigation in June 2022. The study approach and results are summarised in this report. AOEG conducted its Ocean Energy Market Investigation program to provide evidence that potential demand for ocean energy exists, identify potential early-adopter customers and identify the constraints and opportunities to accelerate its uptake. Validating AOEG’s assumption about the potential markets for ocean energy in Australia – local governments representing Blue Economy communities (eg, coastal locations), ports and aquaculture were identified as key target markets.
This inaugural study documented a clear interest by these markets to learn more about ocean energy and identified gaps in information/data required to increase uptake of this nascent source of renewable energy.