Blue ocean energy storage insurance field

Could oceans drive a blue economy?

Oceans hold abundant, largely untapped renewable energy potential, which could drive a vigorous global blue economy in the years ahead.

How can ocean energy contribute to a blue economy?

Energy harnessed from the oceans, through ofshore renewables, can contribute to the decarbonisation of the power sector and to other end-use applications that are relevant for a blue economy (for example, shipping, cooling and water desalination).

Why is marine energy important to the Blue Economy?

Marine energy offers the possibility of tremendous value to the blue economy, both as part of a rapidly growing renewable ocean energy sector creating coastal economic development opportunities and as an enabler of a suite of new technologies, scientific applications, and commercial opportunities in the ocean.

Are marine energy technologies enabling Blue Economy expansion?

The U.S. power sector is rapidly evolving to include new and diverse forms of energy. Marine energy technologies hold promise as part of the national energy mix and as an enabler of blue economy expansion. WPTO's Marine Energy e-newsletter shares news and updates on tools, analysis, and emerging technologies to advance marine energy.

What is a Sustainable BLUE ECONOMY?

A sustainable blue economy that taps into this ocean battery as a clean, affordable, and self-sustaining source of energy will unlock new economic, ecological, and social benefits—on land and at sea. The successful development of marine energy faces many technical, social, and market challenges.

How can insurance support a blue economy?

The blue economy is still in a developmental stage and financial industry support is core to support its growth. Insurers have insights and expertise in risk identification and pricing. With insurance covers, corporates can have more stable financial flows, which can complement and increase the scale of loans that banks offer for blue projects.