Energy can be generated from the oceans by harnessing the kinetic power generated by currents, tides and waves, as well as by placing wind turbines offshore. And there is a lot of energy to be produced from these sources. Canada alone has more than 42,000MW of power potential, with the most potential in Nunavut, and the most sites in British Columbia. The Ocean Renewable Energy Group has prepared a few great presentations on the potential of this industry in Canada, including a presentation for the Tidal Energy Conference in Alaska last year.
But there are a number of hurdles and opportunities that this industry will have to face over the next few years including the implementation of a Crown land leasing policy; financing of R&D, pilot projects and the development of power projects; the capturing and utilization of green credits associated with the generation of emission free power; the identification of markets to purchase this power and the expansion and exportation of this technology and industry expertise to the myriad of countries with high ocean energy potential.
In BC the provincial government is moving forward on developing a solid policy regarding land leases. See the OREG's bi-weekly news for more information. In addition, the most recent federal budget has proposed a boost to tidal energy projects in Canada and the BC Energy Plan outlines an aggressive plan for expanding clean energy power projects throughout the province.
Ocean energy power projects are beginning to appear in places like New York's east river , Ucluelet , BC, in the Race Rocks Ecological Reserve , BC, off the coast of Portugal and beyond.