Markets

Nova’s proven technology is unlocking the immense power of our seas around the globe. Tidal energy is:

• Abundant - every major continent has abundant tidal resources making it a truly global market opportunity.

• Untapped - the tide is one of the strongest forces on the planet and until recently we have had no way of harnessing it. Nova’s technology is now unlocking this vast source of renewable energy.

• Valuable - the marine energy market is estimated to be worth up to US $170 billion by 2050*.

Locations

Tidal energy is a truly global resource with the potential to deliver clean energy across the world. Nova has operations in Europe, North America and Asia. You can see an example and find out more about each market in our case studies above.

Driving Down the Cost of Tidal Energy

Nova Innovation is driving down the cost of tidal energy and expanding into new markets across the world as tidal energy becomes mainstream. Tidal energy is already competitive with diesel generation and other forms of fossil fuels. Costs are falling rapidly, similar to the drop in the costs of solar and wind as they scaled up.

By 2030, tidal energy will be cheaper than nuclear power and fossil fuels, and will provide cleaner and sustainable energy for coastal populations, businesses, and national grids around the world.

Nova’s Route to Market

Our technology can be installed in seas (deep water and shallow water), estuaries and large rivers.

We are already displacing diesel generation. As costs continue to fall we will displace other forms of fossil fuels, become cheaper than coal and nuclear, and help drive the world's net zero carbon solution.

Tidal energy gives predictability of supply that repeats every six hours, complementing other forms of renewables like solar and wind. 

Our turbines can be installed as individual devices or as multiples in arrays to create multi-MW scale projects - suitable for all client requirements.