The Biden-Harris Administration announced $112.5 million in funding from the US Department of Energy (DOE) to expedite the development of wave energy converters (WECs), which harvest energy from ocean waves.
This five-year funded project aims to improve the design, manufacture, and testing of certain WEC technologies.
These technologies could provide US coastal and island communities and the electrical system with locally derived, reasonably priced, and clean energy.
The investment supports the administration’s goal of enhancing American energy independence and dependability through the advancement of indigenous renewable energy technologies.
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Jennifer M. Granholm, US Secretary of Energy said, “Marine energy has great potential in the United States—the total available wave energy resource in the U.S. is equivalent to approximately 34 percent of all domestic power generation.”
She added, “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.”
Wave energy is an untapped resource that could potentially supplement current renewable energy sources like solar and wind power.
Reducing reliance on costly fossil fuel exports to rural and distant areas, supporting at-sea activities, and powering US electric systems might all be achieved by utilizing even a small percentage of the technical capability that exists.
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The WaterPower Technologies Office (WPTO) invests in the development and testing of WECs for at-sea applications, coastal community needs, and utility electricity needs.
PacWave South, the first pre-permitted, grid-connected test facility for wave energy technology in the continental United States, will test WECs with utility applications and is anticipated to begin in the following year.
The funding will lessen entrepreneurs’ financial risk, promote private investment in the wave energy sector, and assist in identifying and advancing wave energy technology.