Nobody downloaded yet

Marine Renewable Energy Market Analysis - Essay Example

Comments (1) Cite this document
Summary
Executive Summary
From time immemorial till the current times, people all over the world have been part of constructive developments utilizing various aspects of nature, which is helping people for many years and will help people for years to come as well…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER91.6% of users find it useful
Marine Renewable Energy Market Analysis
Read TextPreview

Extract of sample "Marine Renewable Energy Market Analysis"

Download file to see previous pages Utilizing nature in the sense, using many natural elements only including various natural energy sources, humans have come up with many inventions and innovations. However, certain of these natural energy sources, have negative side-effects, which kind of destructs the nature or natural environment, from which it is accessed, thereby pushing the need to tap other eco-friendly renewable energy sources. Among them, Marine energy sources are proving to be a feasible and productive option. The United Kingdom not only has 50% of Europe's marine energy potential but the UK also is a prominent leader in the marine renewables market at the present. When these optimum exploitable wave resources as well as tidal stream resources are optimally tapped, it can provide sizable benefits to various sections or stakeholders. One of the key stakeholders is the government. With this sector being a small and upcoming one, it needs maximum support from the government to grow further. Government has been providing good financial support, but the view is, still more grants can be given by the government. This is particularly important in the context of high installation and operating costs involved with these wave and tidal projects. The capitals as well as operating costs are on the higher side, but with the development of technologies, it can reduce in the near future. In addition, this sector has potential for providing employment opportunities, but there are chances that other socio-economic structures in the vicinity of the projects could be affected. Technologies involved in this sector are manifold, and still it is in the development stage, with completely tuned devices and implementations still some years away. Thus, the UK Marine sector has good potential for growth, but still certain challenges exist. Contents 1 Introduction 1.1 Scope 4 1.2 Marine Renewable Energy 4 1.3 Marine Energy Development 5 1.4 Market Size and Growth 6 1.5 Key Competitors 7 2. Trend I: Interests of the political Government 2.1 Government’s Role 9 2.2 Government’s funding 10 2.3 Need for more funding 10 3. Trend II: Economic Costs and socio-economic impacts 3.1 Installation and operating costs 11 3.2 Socio-economic costs 14 4. Trend III: Technology Development 4.1 Technologies Used 15 4.2 Technology with environmental perspective 16 5. Trend IV: Increasing Environmental Awareness 5.1 Negative impacts 16 5.2 Legislative backings 17 6. Conclusion 17 7. Appendices 20 8. References 21 1. Introduction 1.1 Scope This report will do an analysis of the external environment of the UK’s marine energy market using the PESTLE tool. Through the PESTLE analysis, the report will try to discuss not only the opportunities but also the threats that are prevailing in the marine energy market. By doing these analyses, the report will ‘glean’ four trends, which are visible now and importantly could be visible for the next three years in the marine energy market. These trends as well as recommendations that can be implemented will provide an overview of the market, and could be helpful for the new entrants as well. The information for preparing this report was obtained from various online sources, which includes government reports, reliable websites, online books, etc. 1.2 Marine Renewable Energy Marine renewable energy constitutes into two sectors, Wave energy and Tidal energy. Wave energy is generated with the aid of wave movement. However, as wave movement and the resultant energy is irregular, a variety of infrastructures or prototypes are developed and installed in the sea to tap the energy. Devices are often separated by their location in the sea, particularly the depth of water. Figure.1 Wave energy (Carbon Trust 2006) On the other hand, Tidal ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Marine Renewable Energy Market Analysis Essay Example | Topics and Well Written Essays - 4750 words”, n.d.)
Retrieved from https://studentshare.org/business/1396185-marine-renewable-energy-market-analysis-pestle
(Marine Renewable Energy Market Analysis Essay Example | Topics and Well Written Essays - 4750 Words)
https://studentshare.org/business/1396185-marine-renewable-energy-market-analysis-pestle.
“Marine Renewable Energy Market Analysis Essay Example | Topics and Well Written Essays - 4750 Words”, n.d. https://studentshare.org/business/1396185-marine-renewable-energy-market-analysis-pestle.
  • Cited: 0 times
Comments (1)
Click to create a comment or rate a document
hm
hmayer added comment 9 months ago
Student rated this paper as
I had an issue with a essay types of works. All until I came across this website and this particular document. Even though "Marine Renewable Energy Market Analysis" is far from my studies, the structure is so great that I use it all the time as an example for my own works.

CHECK THESE SAMPLES OF Marine Renewable Energy Market Analysis

Renewable Energy

.... The current global recession has been weathered better by this sector than most other sectors because of better government regulation, spending, and policies The IEA projected that, in 50 years, solar energy could help cater for the majority of the world’s energy needs. Obviously, renewable energy is the growth sector of the future. This paper aims to review several of those sources and their significance in both today’s and the future’s energy markets. Renewable energy is the energy of the future. 1. Hydropower’s Role in Developing Sustainable Energy. Hydropower has a...
4 Pages(1000 words)Essay

Renewable Energy

...Renewable energy Renewable energy is energy coming from natural sources. Scientists all over the world are carrying out research to come up with cost effective and environmental friendly sources of energy. Several households and industries in the United States have now adopted these alternative sources, but the older fossil fuels still retain popularity (Boyle 17). This is because the renewable sources, despite their regeneration capacity, also have disadvantages. Wind energy, which is a renewable source of energy, has been in use for many centuries. In the Holland...
6 Pages(1500 words)Essay

Renewable energy

...?Renewable Energy Executive Summary The paper is an exploration of the concept of renewable energy. This includes the definition of the term, the types of renewable energy, the implementation, the related issues and the challenges in the utilization of the methods. The types of renewable energy include solar, wind, hydroelectric and wave power. Introduction Energy is the main driving force of nature and human civilization. The world is even known to have a high level of energy consumptions which even increased during the industrial revolution. In the 1970 though, the...
4 Pages(1000 words)Essay

Renewable Energy

...? Renewable Energy al affiliation: Introduction Renewable energy refers to the energy coming from natural sources. These sources include: rain, sunlight, wind, tides and geothermal heat. Renewable energy applications are mostly done in large scale. However it is also used in the rural areas. Renewable energy gives an encouraging range of technologies which can be used today and even in the future. According to Sorensen (2010), the most important advantage of renewable energies is reduced rate of carbon emission to the atmosphere. Since the beginning of...
4 Pages(1000 words)Research Paper

Renewable Energy-

..., (2012) the Chinese people are in a quest to achieve a zero-coal and low carbon emission in villages Geothermal energy and wind energy and the most successful ventures done so far (Zhang et al, 2012). Basing on the analysis, there are variations among the three countries. It has become clear that nations strive towards reaching the high level of success in utilizing their resources. This implies that position of the renewable energy resources in Nigeria as it stands, it is not promising. They are rather going towards deforestation. Nigeria has tremendous opportunities to become self-sufficient by taking some essential steps for energy...
5 Pages(1250 words)Research Paper

Renewable Energy

...RENEWABLE ENERGY PART ASSUMPTIONS A self-built solar water heater, was made by one of our recent and tested outdoors, with beam radiation nearly normal to the plane of the collector. The test results obtained are contained in the Excel spreadsheet (ENE800J1 Wk 1 c/w.xls). The following details will be necessary to complete this coursework. -A constant mass flow rate of 0.00755 kg/sec was used throughout the test. -The collector aperture area was 0.47m2. - An average value of Cp between the maximum and minimum fluid Temperatures may be used throughout, (4.1784 kJ/kg K) - linear regression analysis should be used to find the best-fit line... . It's not...
12 Pages(3000 words)Essay

Renewable Energy

...Modern Marvels- Renewable Energy With rising concerns of greenhouse gas emissions and continually increasing costs of fuels like coal, petrol etc, renewable energy sources have taken a significant place in the market. Solar Energy: Solar energy is quite an expensive proposition to fulfill the energy needs of a country. Photovoltaic panels are quite expensive because of the need of ultra pure silica making solar powered grids two to five times expensive than typical grids. However, research has been going to replace silica with a mixture of other cheaper elements thereby providing us with a low cost...
3 Pages(750 words)Essay

Renewable Energy

...of using this approach coupled with other challenges including the number of turbines that must be built in their projected location showed that although this source of renewable energy is viable in Brazil, there are other factors that need to be seriously evaluated prior to its implementation. The high investment cost proved to be a barrier for implementation as private or public organizations need to examine if the returns on investment would justify the initial funds needed to support and sustain this energy source. SWOT Analysis on Hydrogen, as Direct Combustible Fuel for Transport by 2020 Strengths: among all of its potential applications, hydrogens only waste or...
2 Pages(500 words)Essay

Renewable energy

...Renewable Energy Introduction Before going into the discussion regarding renewable energy, let us get a better understanding of what renewable energy actually is. Renewable energy refers to continuous and natural energy sources such as rain, wind, sunlight, and geothermal energy. Renewable energy sources are used for the generation of electricity and for some other industrial purposes. Renewable energy is not only used on large scales for big cities but also it can be used for providing electricity to small villages. The main reason for switching from traditional energy sources to renewable energy sources is that the energy sources like natural gas, coal, and oil have no permanent reservoirs and they will be exhausted at some time... in...
6 Pages(1500 words)Essay

Renewable Energy

...is facing challenges and lack of opportunities in terms of Foreign Direct Investment. Though, during the government of former president Bill Clinton it was noticed that $1 billion were invested in coal plant and a great many improvements had been made in solar and wind turbines. It is evident from the fact, at that time 1900, jobs were opened in solar energy sector and 3,300 jobs were offered in wind turbine sectors of energy industry. FDI market reports have revealed that there is an exceptional form of political and social force that prop up the development and evolution of renewable energy sources. On the other hand, it has been evaluated by the...
3 Pages(750 words)Research Proposal
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Marine Renewable Energy Market Analysis for FREE!

Contact Us