The oceans hold the world’s most significant untapped energy resource. So far, it has not been put to use.
We’re on a mission to change that.
Global electricity demand continues to rise, driven by population growth, industrialization, and energy-intensive technologies like artificial intelligence.
Over the past decade, electricity consumption has increased by 2.18% annually, effectively doubling every 30 years at current rates. AI data centers alone are projected to increase Europe’s power demand by up to 50% by 2033.
Meeting this demand sustainably requires bold investment in renewable energy to reduce reliance on fossil fuels.
The Intergovernmental Panel on Climate Change (IPCC) warns that limiting global warming to 1.5°C is essential to prevent catastrophic outcomes. Achieving this requires a 45% reduction in CO₂ emissions by 2030 and net zero emissions by 2050.
Wave energy offers a powerful pathway to decarbonization, complementing solar and wind by providing consistent, predictable power.
The potential is vast. The IEA and IRENA estimate that ocean energy capacity could reach up to 350GW by 2050, with the EU targeting 10% of its electricity demand from ocean energy. However, reaching this target will require significant investments to achieve cost competitiveness with wholesale energy prices by 2044-2050.
Wave energy stands out among renewable technologies for its combination of efficiency, reliability, and minimal environmental disruption.
Unlike solar and wind, wave energy offers highly consistent and forecastable power generation, operating 24/7.
Waves carry 3–5 times more energy per square meter than wind and 10–30 times more than solar.
Offshore placement avoids land-use conflicts, preserving agriculture and biodiversity, with less visual impact than wind turbines and solar farms.
Wave energy devices often act as artificial reefs, enhancing marine biodiversity with negligible ecosystem disruption.
Feed-in tariffs (FiTs) have proven to be one of the most effective tools in driving the growth of renewable energy technologies, as evidenced by their transformative impact on the solar and wind energy sectors in last two decades. FiTs provided the financial certainty needed to attract investments, accelerate technology deployment, and bring costs down through economies of scale.
As the global energy transition continues, it is crucial to extend this proven mechanism to emerging renewable energy sources like wave energy.
Wave energy holds immense potential to complement solar and wind by providing consistent, predictable power, yet it faces similar early-stage challenges that solar and wind once overcame with the help of FiTs.
Introducing FiTs for wave energy can fast-track its development and integration, fostering innovation, scaling deployment, and ensuring these technologies achieve cost competitiveness.
Just as FiTs propelled solar panels onto rooftops and wind turbines across landscapes, they can now unlock the vast untapped power of the oceans, advancing the global shift toward sustainable energy.
TECHNOLOGICAL SUPERIORITY
By combining patented technologies and innovative design, Sigma Energy is charting a path toward a cleaner, renewable energy future.
With a Technology Readiness Level (TRL) 9, our WEC is fully prepared for commercialization, offering scalable and economically viable solutions.
Interested in partnering with Sigma Energy or learning more about our innovations?
Let’s work together to transform ocean energy into a sustainable future.
