US launches largest wave energy funding opportunity
The Biden-Harris Administration has announced up to US$112.5 million in funding to advance wave energy technology, the largest investment of its kind.
This five-year initiative aims to accelerate the development and testing of wave energy converters (WECs), providing clean, local energy for US electric grids, coastal communities, and offshore operations.
“Marine energy has immense potential in the US,” said Jennifer M. Granholm, US Secretary of Energy. “This investment will support American developers in advancing wave energy technologies to provide millions of Americans with reliable, locally sourced, and clean energy.”
Key component
Wave energy, a key component of offshore renewables, complements other renewable sources like wind and solar.
According to the US Department of Energy, capturing even a portion of the available wave energy could significantly contribute to US energy needs, powering coastal and island communities and reducing reliance on fossil fuels.
The funding, administered by the Water Power Technologies Office (WPTO), will support WEC testing for various applications, including utility-scale electricity, ocean observation and aquaculture.
PacWave South, the first grid-connected wave energy testing facility in the US, will play a pivotal role in this effort when operational next year.
The facility will de-risk technologies for developers, incentivise private investors and help commercialise innovative wave energy solutions to power both at-sea and onshore activities.
The full funding opportunity is available in the Office of Energy Efficiency and Renewable Energy Program Information Center.
Concept papers are due by 5 pm ET on 25 October 2024.
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