Wave energy to be commercialized by the US government

The U.S. Department of Energy has made its largest investment in ocean energy to date, allocating $112.5 million to the commercialization of wave energy technologies.

This five-year investment is expected to significantly accelerate the development, manufacture and testing of several wave energy converters (WECs) that harvest energy from ocean waves.

The investment, managed by the Water Power Technologies Office (WPTO), is designed to support the development and testing of wind turbines that provide power for offshore applications such as ocean observation, aquaculture and the removal of carbon dioxide from the ocean, and that meet the needs of coastal communities, such as the production of electricity and clean drinking water.

In addition, the investment will support the development of WECs with utility applications that can be tested at PacWave South, the first pre-approved, grid-connected test facility for wave energy technologies in the Americas, which is expected to begin operations next year.

The investment will help identify and advance promising WEC technologies, reduce financial risks for developers, incentivize investors to advance technologies at smaller scales while developing towards utility scale, and increase knowledge of installation, operation and maintenance.

“Ocean energy has great potential in the United States – the total available wave energy resources in the United States represent about 34 percent of all domestic electricity generation. The Department of Energy's investment in wave energy will provide American developers with consistent, long-term funding to advance their technologies with the goal of delivering locally generated, clean, reliable energy to millions of Americans,” said Jennifer M. Granholm, U.S. Secretary of Energy.

Energy from ocean waves is abundant and complements other renewable energy sources such as wind and solar. Even if only a portion of this technical resource potential is realized, wave energy technologies could make a significant contribution to U.S. energy needs by powering U.S. power grids and offshore activities, as well as rural and remote communities that often rely on expensive fossil fuel supplies.

This investment will help identify and advance high-potential WEC technologies, reduce financial risks for developers, incentivize investors to advance technologies at smaller scales while developing towards utility scale, and increase knowledge of installation, operation and maintenance.

Full funding options are available on the Energy Efficiency and Renewable Energy Programme Information Centre. Concept papers must be submitted by 25 October 2024.