The Blue Economy CRC released the highly successful ‘Offshore Wind Energy in Australia’ (OWEA) report in 2021. This has helped to catalyse the emergence of an offshore wind industry. There is a need for a similar report for the wave energy industry in Australia to summarise opportunities and deliver recommendations. This project will produce a report on the status of, and opportunities for, the wave energy industry in Australia. It will provide conclusions and recommendations to key stakeholders including government, investors, financiers and the public.

The aim of this project is to comprehensively assess the status, challenges, and opportunities of wave energy in Australia, through a thorough examination of international trends, domestic resource, market dynamics, integration potentials, environmental considerations, regulatory frameworks, and social acceptance factors.

The outcomes of this project will provide valuable insights and actionable recommendations for various stakeholders, including government agencies, project developers, financiers, regulators, and indigenous communities.

These outcomes will include a comprehensive understanding of international trends, identification of market opportunities and integration potentials, best practices for environmental sustainability, and approaches for fostering social license and community engagement.

This project holds profound relevance in light of Australia’s immense wave energy resource potential, which remains largely untapped despite its significance in the nation’s energy landscape. As one of the world’s largest island nations with extensive coastline, Australia possesses abundant wave energy resources that present a valuable opportunity for renewable energy generation.

This project will serve as a catalyst for realising Australia’s wave energy potential, aligning with national objectives for sustainable development, energy security, and climate resilience.