Development of Marine, Hydrokinetic Energy Slower Than Expected, New Research Shows

The development of marine and hydrokinetic renewable energy is progressing more slowly than expected, according to new research released by Bloomberg New Energy Finance, which lowered its projections for the use of the technology by 2020.

Marine and hydrokinetic (MHK) refers to a wide variety of devices that generate power using underwater turbines, buoys, wave energy converters and other devices that harness energy from waves, currents, thermal gradients and other natural phenomena.

The devices have the potential to generate as much as 1,420 terawatt hours of electricity per year—more than a quarter of U.S. annual electricity consumption, according to Energy ...