Abstract
This paper examines market support options and considerations for the development of marine renewable energy projects. The paper considers the public policy rationale for renewable energy and the need for policy support tools, including competitive calls for proposals, renewable electricity standards and Feed-in-Tariffs (FITs). The paper then examines the specific case for marine renewable energy and the unique policy considerations associated with encouraging diverse emerging technologies. Following the establishment of the general policy considerations and tools, the paper explores the experience of Nova Scotia – a Province in Canada. Nova Scotia has had early experience with tidal development. For more than a decade it has used renewable electricity standards as a policy tool accompanied by utility built projects on a cost-of-service basis; independent power producer projects on a competitive basis and both community feed-in-tariffs and tidal sector specific tariff programs. Experience in the use of these policy tools is documented as well as the evolution of the legislative framework to enable a prequalification (licencing) process and a competitive bidding process for market supports. The paper concludes with an analysis of considerations for future model development from public and industry perspectives and potential lessons for considerations in other jurisdictions.