‘Moon power’ or electricity generated power from the tides is now becoming a reality.
The renewable energy sector has become a critical element in the global transition to a low-carbon economy, and continues to outperform year on year. Moreover, according to the McKinsey Global Institute (2013), renewable power is a ‘disruptive technology’ that will transform life, business, and the global economy because “it holds a simple but tantalizing promise: an endless source of power to drive the machinery of modern life without stripping resources from the earth; contributing to pollution and climate change”. Yet, such advances in technology can only come about through significant financial investment in research and development, which typically remain in a nascent form until they reach a certain critical mass and momentum (often over decades).
The commercial exploitation of electricity generated power from the tides, albeit nascent, is now becoming a reality. Over the past decade private and public sector investment for this new energy asset class has resulted in the successful deployment of multiple, megawatt devices and more recently, a consolidation of both technology philosophy and businesses. Both of these aspects demonstrate that the tidal sector is maturing and could be on the cusp of commerciality. Making commercial-grade renewable low-carbon electricity from this predictable commodity has to be a positive signal to investors.