Global Marine Renewable Energy Conference Countdown – Profiles in Ocean Energy: Trey Taylor of Verdant Power
Cofounder & president of Verdant Power, Trey Taylor served on Boards of the Hydro Research Foundation, National Hydropower Association, and Ocean Renewable Energy Coalition. He has worked for Procter & Gamble, ITT Corporation, British Telecom, and Edison Electric Institute; and has consulted for Baltimore Gas & Electric and Price Waterhouse World Utilities Group.
What changes have you noticed in the industry since the time that you began working in the field until now?
The greatest changes that I have noticed are an overall consciousness raising and acceptance of kinetic hydropower technology’s capabilities for harvesting a huge marine renewables global potential.
What in your view are the greatest challenges to marine renewables at this time?
The greatest challenges are to demonstrate that kinetic hydropower technologies are commercially viable and to streamline regulatory processes that slow down those demonstrations, consequently adding to the costs.
What, if anything, makes the marine renewables industry different from other industries that you’ve worked with?
It is an embryonic industry.
What do you find most exciting about the marine renewables industry?
It has the potential to revolutionize energy generation, helping develop de-centralized power and sustainable communities.
What, in your opinion, are the top two to three developments needed to bring marine renewables to commercialization?
The three top developmental needs are: 1) funding and financing (i.e., government and private); 2) government will (e.g., economic incentives, renewable energy mandates, streamlined regulations); and 3) electric utility industry support (e.g., greater acceptance of distributed generation).
What are your predictions for the marine renewables industry over the next 3-5 years?
In the next five years, there will be at least four commercial projects with an installed capacity of more than 200 MW operating in tidal waters, rivers, and constructed waterways around the world. The exponential growth after 2012 will be staggering, because the estimated global potential for marine renewables is more than 250,000 MW of installed capacity.