Develop, promote and scale-up Ocean Thermal Energy Conversion (OTEC)
The Principality of Monaco was one of the first countries in the world to develop this type of technology. Monaco installed its first OTEC heat pump in 1963 and now has over 80. The Principality plans to develop, in the years to come, two OTEC loops to extend the use of this type of energy. These pumps will connect to a water system that will run in pipes supplying several buildings, sometimes farther from the shoreline. This optimizes the efficiency of this technology, reduces costs and allow to supply clean energy to more buildings. The system will be a particularly beneficial alternative for buildings currently heated with oil. It will reduce their greenhouse gas emissions of around 80%. For buildings heated with natural gas, the reduction will be of 25%. This will contribute for about 14% of our overall objective to reached carbon neutrality by 2050.