US Department of Energy’s $112.5 Million Investment to Promote Wave Energy
The U.S. Department of Energy has announced a significant investment of up to $112.5 million to advance the commercialization of wave energy technologies. This five-year commitment is part of the department’s efforts to provide affordable and clean energy for the nation’s electric grids, coastal communities, and offshore workforces.
#### Expanding Renewable Energy Initiatives
This substantial funding will accelerate the design, fabrication, and testing of multiple wave energy converters (WECs), which harness power from ocean waves. The total available wave energy resource in the U.S. is equivalent to approximately 34% of all U.S. power generation. Harnessing this resource could make substantial contributions to U.S. energy needs by powering electric grids and various at-sea activities.
#### Focus Areas for Investment
The Department of Energy’s Water Power Technologies Office (WPTO) will allocate the funds across three primary areas:
1. **Dispersed and Power-at-Sea Applications**:
– **Up to $16.875 million**: This funding will support the development and open water testing of wave devices for dispersed (remote or offshore) use cases and power-at-sea applications.
2. **Coastal Community Needs**:
– **Up to $45 million**: This allocation will focus on wave device development to meet the needs of coastal communities. Projects may include power generation and desalination of water.
3. **Utility-Scale Power**:
– **Up to $50.625 million**: This funding will be utilized for wave device development in support of utility-scale power needs. Projects will be tested at offshore, grid-connected facilities like PacWave South, which is expected to be operational next year.
#### Key Objectives
The investment aims to reduce deployment risks, increase commercial adoption through longer-duration demonstrations, and provide other benefits that enhance the readiness of WECs. This includes:
– **Identifying and Maturing High-Potential Technologies**: To quickly advance WEC technologies that show significant promise.
– **Reducing Financial Risks**: For developers and incentivizing investors, thereby increasing the likelihood of successful deployments.
– **Progressing Technologies at Smaller Scales**: To develop towards utility-scale applications.
– **Increasing Learning for Installation, Operations, and Maintenance**: To improve the operational efficiency and reliability of WECs.
#### Next Steps
For those interested in participating in this funding opportunity, the