EUROPEAN COMMISSION
OTHER RELEVANT ACTIVITIES
The European Commission is also funding activities to get a better understanding of the ocean energy sector like studies or support activities for research and innovation and knowledge transfer (Table 4).
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The European Commission conducted a "Market Study on Ocean Energy"1 . The scope of the study was to understand the financial needs of the EU ocean energy sector, identifying current gaps and proposing possible financing solution taking into account the recommendations of the Ocean Energy Roadmap. The study puts forward recommendations for the creation of an Investment fund and of an insurance fund for ocean energy. The study quantified investment needs based on three different deployment scenarios (pessimistic, neutral and optimistic), which would range between 2.8 and 9.4 EUR billion, corresponding to 1.3 GW installed in the pessimistic case and 3.9 GW installed in the optimistic scenario.
The Joint Research Centre (JRC), the in-house centre of the European Commission for research and scientific advice to the EU, is doing an inventory of Future Emerging Technologies relevant to energy supply. The needs for the ocean energy sector and the type of innovations to bridge the gap with the market have been analysed and are published in the report Future emerging technologies for the ocean energy sector: innovation and game-changers: http://publications.jrc.ec.europa.eu/repository/bitstream/JRC112635/kjna29315enn.pdf
A public study on the Impact of European funded Ocean Energy R&D projects of the last 20 years is on-going aiming to provide insights into the impacts of funding and opportunities to influence the recommendations to increase future R&D impacts.
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