The main disadvantage remains the cost of the barrages that must be built across an estuary. However we must realise that funding is coming from us, the taxpayers. Heavy industry for example, has a much greater need for power than other types of manufacturing. United States 2016 Presidential Election: Plans For Economic Growth? If one is looking for a long term investment in the energy industry consider tidal power. Tom Delay, chief executive of the Carbon Trust, said: ‘The UK is leading the way in marine energy and stands to reap the rewards through new jobs and revenue. The major drawback at present is the huge initial cost in the development of specific projects. This is the result of the strong cyclic tidal currents that move parallel to the coast. The power generated is being sold to ESB Independent Energy under a Power Purchase Agreement to provide businesses across Northern Ireland with renewable electricity. The British tidal energy firm received the investment from a group led by Carbon Trust and including Bank Invest, EDF Energy and High Tide. We’re delighted to be able to lead this important group of investors in providing funding to a key player in the UK’s growing marine energy sector.’, Martin Wright, managing director of MCT, added: ‘We have established clear water ahead of our rivals and we see this significant investment, allied by the government’s actions to encourage tidal and wave energy, giving the company a massive boost to realise the commercial opportunities that exist in the UK as well as overseas markets.’. This will of course, depend on the economic growth rates in individual countries. This is the time required for the tides to be moving in or out of the designated area. The lack of appropriate areas for this type of energy production thus seems to necessitate the building of additional tidal lagoons, if tidal energy is to be employed on a global scale. Dynamic tidal power (DTP) is the technology that allows energy to be extracted by taking advantage of the interactions between kinetic and potential energies in tidal flows. Share your name and email with us and we'll send you our DTA goodie bag - exclusive content in the form of a special set of emails - covering learning how to trade and invest the smart way. Marine Current Turbines has developed one of the leading tidal energy devices and its proven technology is now ready to be deployed in a commercial-scale tidal farm that will be a UK first. “Now that the first phase of the project has commenced, we will be working with them [reconstruct GmbH] on financing for subsequent phases,” he said. Tidal energy appears to be the way forward as the number one renewable energy. Another big project is the one that can be found in Wales at Swansea Bay. This is good news, but should only be regarded as one of a number of possible options. Around 250 German private investors participated in this tidal energy investment to deliver the first project in Nova Scotia’s Bay of Fundy. In reply to D Evans’s question about marine wildlife, I believe the prevailing wisdom is that most marine life can get out of the way without any help. These reservoirs are like tidal barrages except the lagoons are created artificially. Tidal phased differences are introduced across the dam leading to water level differentials in the fordable water areas. Your email address will not be published.
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