WECANet: The first open pan-European Network for Marine Renewable Energy with a focus on wave energy – COST Action CA17105

Growing energy demand has increased interest in marine renewable energy resources, i.e. wave energy which is harvested through Wave Energy Converter (WEC) Arrays. However, the wave energy industry is currently at a significant juncture in its development, facing a number of challenges which require that research re-focuses on a holistic techno-economic perspective, where economics consider the full life-cycle costs of the technology. It also requires development of WECs suitable for niche markets, because in Europe there are inequalities regarding wave energy resources, wave energy companies, national programmes and investments. As a result, in Europe there are leading and non-leading countries in wave energy technology. The sector also needs to increase confidence of potential investors by reducing (non-)technological risks. This can be achieved through an interdisciplinary approach by involving engineers, economists, environmental scientists, legislation, governmental bodies and policy experts. Consequently, the wave energy sector needs to receive the necessary attention compared to other more advanced and commercial ocean energy technologies (e.g. offshore wind).