2. Reducing Investment Risk for
Marine Renewables
Ray Hunter - Senior Strategy Manager
Offshore Renewable Energy Catapult, UK
3. Technology Development Trajectories
• Jochem Webber (NREL)
promotes TPL as well as
TRL
• Advocates more emphasis
on concept development
and innovation prior to TRL4
• This trajectory has better
outcomes and lower risk
• Commercial pressures have
led to the wrong trajectories
4. Stage Gated Technology Development
increasing stage cost
increasing technical consolidation
increasing confidence in attaining target LCOE
increasing confidence in a commercial market
increasing private investment
concept
development
technology
optimisation
engineering
development
product
demonstration
5. Confidence During Commercialisation
• Cost reduction driven by
volume, learning and
standardisation
• Challenging times in the
UK due to reduction in
mutual confidence
• Seeking commercial
readiness ahead of
technical readiness?
viable
market
technology
developers
project
developers government
6. Summary - Core Propositions
• Technical ability to meet affordable LCOE is crucial to all
investments
• Inadequate focus on TPL has led to poor confidence in
ability to hit LCOE targets, jeopardising investment
• Wave is responding by returning focus to early stage TRL
to improve TPL
• Early tidal arrays have seen limited private funding;
greater confidence in attainability of affordable LCOE is
needed
7. ORE Catapult
Inovo
121 George Street
Glasgow
G1 1RD
T +44 (0)333 004 1400
F +44 (0)333 004 1399
info@ore.catapult.org.uk
ore.catapult.org.uk
ORE Catapult
National Renewable Energy Centre
Offshore House, Albert Street
Blyth, Northumberland
NE24 1LZ
T +44 (0)1670 359 555
F +44 (0)1670 359 666
info@ore.catapult.org.uk
Contact us
