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There are many wave and tidal devices under development but as yet very few are actually in revenue earning production. However the engineering problems are gradually being solved and there is an appetite to invest in these renewable generation technologies for harsher environments. To some extent the wave and tidal generation industry is following in the wake of the wind industry, particularly learning from the growing experience of offshore wind farm deployment. This book combines wind industry lessons with wave and tidal field knowledge to explore the main reliability and availability issues facing this growing industry.

The potential of wave power lies in waves' kinetic energy. Waves have a far greater energy density than wind or solar and can generate between 24-70 kW per meter of wave. The global tidal energy potential is estimated to be 3 TW, with approximately 1 TW in comparably shallow waters. The challenge for the development of marine energy converters (MEC) is to achieve an investment cost and rate of return that will make marine energy devices viable, compared to other sources of electrical power.