Largest marine energy initiative to drive innovation in ocean-based power technologies
The U.S. Department of Energy (DOE) has unveiled plans to invest up to $112.5 million in the development and commercialization of wave energy. This initiative marks the DOE’s most significant financial commitment to marine energy to date, aiming to accelerate the use of wave-generated power for various applications, including electricity grids, coastal communities, and offshore industries.
Advancing Wave Energy Technology Over the Next Five Years
Over the course of five years, the DOE’s investment will expedite the design, construction, and testing of wave energy converters (WECs). These devices convert the natural motion of ocean waves into usable energy. The DOE highlights that even capturing a fraction of the available wave energy could play a major role in meeting U.S. energy demands, particularly for grid power and ocean-based activities.
Fostering Innovation in At-Sea and Utility Applications
Managed by the Water Power Technologies Office (WPTO), this funding will focus on advancing WEC technology for three key areas:
- At-Sea Applications: Powering ocean observation, aquaculture, and carbon capture initiatives.
- Coastal Communities: Addressing needs for energy and clean drinking water production.
- Utility Power Generation: WECs designed for utility-scale applications will undergo testing at PacWave South, the first grid-connected wave energy test site in the continental U.S., expected to be operational next year.
The DOE’s initiative aims to reduce financial risks for developers, encourage investor confidence, and advance technologies from small-scale testing to full utility-scale deployments. This funding will also enhance knowledge around the installation, operation, and maintenance of wave energy systems, helping to drive the future of renewable ocean-based power sources.
