The world’s largest climate crisis has ignited a search for renewable energy that extends beyond the familiar terrain of solar panels, wind farms, and hydroelectric plants. Today, scientists, innovators, and entrepreneurs are exploring unexpected, sometimes surprising, methods of generating electricity and heat from unusual sources. This emerging exploration is driven by the urgency for solutions that align with the Paris Agreement’s carbon reduction targets and bring long-term economic potential.
One promising alternative lies in harnessing the ocean’s energy. Covering over 70% of the Earth’s surface, oceans offer a vast, untapped source of power through waves and tides. Unlike wind or solar, waves are consistently in motion, providing a stable and predictable energy source. Although there are technological challenges to overcome, wave energy is advancing in many parts of the world. A notable example is the MeyGen project in Scotland’s Pentland Firth, developed by the British company SIMEC Atlantis Energy, which invested more than $350 million in developing this technology. With an installed capacity of 6 MW, MeyGen generates enough electricity to power over 4,000 homes, and it could eventually become one of the United Kingdom’s main energy sources.
Research shows significant potential for this sector; IRENA estimates the global wave and tidal energy market could reach $10 billion by 2030, with a 15% annual growth rate. This technology could be crucial for powering coastal cities in the future, with countries like Japan, Australia, and Canada increasing their investments in ocean energy.
While solar and wind power remain at the forefront, these unconventional alternatives are gaining traction, especially as global investments in renewables topped $500 billion in 2022, according to BloombergNEF. The integration of these rarer technologies could diversify the energy supply and strengthen the global response to climate change.
These energy innovations are likely to play a pivotal role in creating new economic opportunities and cutting carbon emissions as nations move toward a sustainable future. Companies that adopt these alternative energies could benefit from emerging markets and help address the climate challenge. It’s no longer a question of whether these technologies will enter our lives, but when and to what extent. Energy in the future may come from the most unexpected sources.
SAE Renewables Limited (LON:SAE) was founded in 2005 as a supplier of tidal stream turbines, SAE quickly grew to include development of tidal stream projects and is the majority owner of MeyGen, the world’s largest tidal stream energy project.
