10 Fastest-Growing Energy Sources in 2020

7. Ocean energy

Ocean energy is a form of renewable energy that drives energy from the sea. There are three types of ocean energy; wave, tidal, and ocean thermal. By 2019, in Europe 1.52 million watts installations were added. In 2019, Europe was generating 3.4 million watts tidal stream whereas the remaining world was at 1.8 million watts. Amidst the pandemic, the global market for ocean energy was estimated at 2.7 million kilowatts. Moreover, by 2027 the market is expected to reach 27.2 million kilowatts. In 2020, the United States accounted for over 30.3% of the global ocean energy market. By 2030 according to the International Energy Agency, the market is expected to grow by 15%.