Funding and Financial Supports for Tidal Energy Development in Nova Scotia

Principal Investigators:

Dr. Shelley MacDougall, Acadia University

Start Date:   June 2016

End Date:    September 2016

Nova Scotia’s support for the demonstration of in-stream tidal energy technologies has attracted companies to the Bay of Fundy from around the world. Preparations to demonstrate tidal devices at five berths at the Fundy Ocean Research Centre for Energy (FORCE) are underway in response to government legislation, investment in FORCE, feed-in tariffs, and Sustainable Development Technology Canada grants. The early stages of technology development beyond demonstration are capital intensive and private sector financing is scarce.  Any risks government can reduce through financial support, infrastructure investment, and clear policy and regulations will help incubate a sustainable industry, including the economic opportunities that come from technology innovation and supply chain expertise.  To help ensure Nova Scotia and Canada will benefit from a sustainable marine renewable energy industry over the longer term, a study has been commissioned by the Department of Energy through OERA to identify the suite of applicable funding and financial support mechanisms used in different jurisdictions around the world, recommend a combination that may be suitable for the Nova Scotia context, and present the local entities that could administer such funding and financial supports for local tidal energy development.  The work was led by Dr. Shelley MacDougall, formerly a professor of finance in the F.C. Manning School of Business Administration at Acadia University.

Reports:

Funding and Financial Supports for Tidal Energy Development in Nova Scotia – Final Report [PDF]