KUALA LUMPUR (Oct 13): Tidal energy could make a significant contribution to the decarbonisation movement if it is able to get off the ground and scale up to become competitive in the energy market.

Tidal energy is power produced by the surge of ocean waters during the rise and fall of tides.

In a commentary on Tuesday, energy portal OilPrice.com, which cited European online newspaper EUobserver, said that to get off the ground, tidal companies need national governments to introduce revenue support schemes, guaranteed prices and decent bank loan rates.

However, the portal said tidal energy seems unable to break out of its infancy and into the market.

It said the zero-carbon, renewable form of energy production had major potential for contributing a significant amount of energy to the grid, particularly in Europe and Asia, without contributing to (or possibly even lowering) their carbon footprints.

But it added that there may be more working against tidal energy than it had going for it.

It said banks seem unwilling to back tidal ventures due to unproven profit margins, while environmentalists are not totally sold on it either.

“Tidal energy could be a game changer for a greener, more sustainable economy as the EU (European Union) moves towards a target of 40% renewables in its overall energy mix by 2030.

“It could deliver 100GW of capacity by 2050, equivalent to 10% of Europe's electricity consumption today,” said Euobserver.