This work package aims to combine the wealth of knowledge gained during the project along with the data and information gathered from demonstrating the DTOceanPlus suite of tools against real life demonstration scenarios to envisage the future of ocean energy. The route to delivery of sustainable impact through business management models will have a strong input on the definition of advanced ocean energy design tools (and vice versa). This necessity will be clearly demonstrated by strong information flow of WP8 with WP7.
Specific objectives of this work package
- Produce a detailed assessment of potential markets for ocean energy technology.
- Analyse critically the European supply chain, including a cost-benefit analysis to deliver sustainable impact for the ocean energy sector.
- Propose improved business models and pricing methods for ocean energy.
- Establish the integration of these methods in the design tools.
- Forecast progress towards achieving long term target impacts.
- At a higher level, report how legal, institutional and political frameworks could act as a barrier or enabling element for future deployment of ocean energy.
Tasks to be performed
Analysis of potential markets for Ocean Energy technology
This task will apply the knowledge gathered in WP2 to develop a greater understanding of the potential markets for ocean energy technology deployment and exploitation. This will include using the input from stakeholders as defined in WP2 with a market analysis of different public reports addressing potential markets and their economic feasibility such as the reports produced by the SI Ocean project and the expected output of the market analysis that DG-MARE is performing at the moment of writing this proposal. Combining these will facilitate a deeper understanding of the ocean energy sector in Europe, specifically of potential markets for the commercialisation process.
Analysis of the European supply chain
This task will gather together the information gained as part of DTOceanPlus to develop a complete understanding of the supply chain across Europe. This will include input from the consortium and users of the tools including developers, funders, investors and other groups represented in the project, as well as the experiences from real case studies. This knowledge will be coupled with a compilation of different public reports addressing the potential ocean energy supply chain. The output will be an assessment of the supply chain including its pricing methods, business models, non-technical barriers/enablers to deliver a complete understanding of the current and future supply chain to guide sustainable exploitation of the tools in the sector.
Feasibility and cost-benefit analysis
This task will use the inputs and outputs of the tool demonstration activities in WP7 where real ocean energy projects are used to verify the DTOceanPlus tools. This will be coupled with an economic feasibility and cost-benefit analysis to assess the technologies and funding frameworks to support attractive business cases for both public and private funders. The task will include but not be limited to an investigation of both technology push and market pull funding options in combination with commercialisation and Gross Value Added (GVA) analysis at both a regional and EU level. The task will analyse the feasible timescales for achieving or surpassing the long-term cost reduction, environmental and socioeconomic impacts.
Developing specific sector standards for business management models for the ocean energy sector
Building on the previous task, the objective in this task is to define a scenario for industrial roll out analysis. Standard approaches to business management models will be developed by combining the value of the DTOceanPlus toolset with a deep knowledge of the potential markets that ocean energy technology can be applied to and the supply chain in place to exploit the opportunities. The standards will also demonstrate the model for the application of the tools by other types of stakeholder to support their sustainable impact upon the sector and its commercialisation prospects through the development of new business cases. The new standard approaches will include pricing methods which can support development of business, funding and support cases.
Analysis of the effect of the overall legal institutional and political frameworks
This task will build on previous tasks of this work package to use the DTOceanPlus suite of tools to perform a critical evaluation of the ocean energy sector’s legal, institutional and political frameworks with an analysis of barriers or enabling features for the deployment of ocean energy during both the development and industrial roll out stage of both wave and tidal energies.
Deliverable D8.1 - Potential Markets for Ocean Energy
Deliverable D8.2 - Analysis of the European Supply Chain
Deliverable D8.3 - Feasibility and cost-benefit analysis
Deliverable D8.4 - Developing ocean energy standards for business management models in ocean energy
Deliverable D8.5 - Relevant legal, institutional, and political frameworks