The Government of the US today announced up to $112.5m in funding from the US Department of Energy for its largest-ever investment in marine energy.
This five-year investment aims to significantly accelerate the design, fabrication, and testing of multiple wave energy converters (WECs), which capture power from ocean waves.
Wave energy, a form of marine energy, can supply local, affordable, and clean energy to US electric grids, coastal and island communities, as well as offshore operations.
This investment aligns with the administration’s commitment to deploying domestic power and technologies that will make American energy more reliable and independent.
US Secretary of Energy Jennifer M. Granholm said: “Marine energy has great potential in the United States—the total available wave energy resource in the US is equivalent to approximately 34% of all domestic power generation.
“The Department of Energy’s investment in wave energy will provide consistent, long-term funding to American developers so they can advance their technologies with the goal of providing millions of Americans with locally sourced, clean, and reliable energy.”
Ocean wave energy is abundant and complements other renewable energy sources, such as wind and solar power.
Even if only a portion of this technical resource potential is harnessed, wave energy technologies could make substantial contributions to US energy needs by supplying power to US electric grids, at-sea operations, and rural and remote communities that often depend on costly fossil fuel shipments.
Administered by the Water Power Technologies Office (WPTO), this funding is intended to support the development and testing of wave energy converters (WECs) to provide power for:
- At-sea applications, such as ocean monitoring, aquaculture, and marine carbon dioxide removal.
- Coastal community needs, including power generation and clean drinking water production.
- Utility-scale electricity demands. WECs with utility applications may be tested at PacWave South, the first pre-permitted, grid-connected test facility for wave energy technologies in the continental United States, expected to become operational next year.
This investment will help identify and advance promising WEC technologies, lower financial risks for developers and attract investors, progress technologies at smaller scales while working towards utility scale, and enhance knowledge regarding installation, operations, and maintenance.
