Abstract
The first generation of (pre-commercial) ocean energy devices emerged in 2008, but comparatively little practical commercial development has taken place in wave and tidal power since then. Currently offshore wind power is in a sense the only true commercial deployment of an ocean energy technology seeing wide-scale adoption. Recently, several developments related to tidal energy are taking place, though progress in wave power devices remains disappointing, with several companies facing financial difficulties. This paper presents a review of recent developments in ocean energy and discusses the financial challenges and environmental misconceptions regarding such technologies.