Mario Marasigan, DOE's Renewable Energy Management Bureau director, however, said the Philippines is not alone in its dilemma when it comes to ocean energy given that the industry is still at its nascent stage.
"There are very limited ocean energy installations in the world, commercialization is difficult.
Also, pricing mechanism is difficult to establish without sufficient basis and with limited comparative studies not only in the Philippines but also around the world," Marasigan
Ocean energy capacity in commercial operations worldwide to date is only about 527 MW, with France currently having the largest existing ocean power facility with a generating capacity of 240 MW.
Harnessing the ocean for power purposes involves various technologies that use tides, waves, and temperature difference to create energy.
said the country may not be able to see its first ocean power facility built in the near term given the various challenges and barriers it is currently facing.
said, however, that the DOE
remains confident in its development locally and eyes the first ocean energy installation to happen by 2020.