According to the Department of Energy (DOE), the U.S. government announced a $112.5 million investment from the DOE, marking its largest commitment to marine energy. This five-year initiative aims to accelerate the development and testing of wave energy converters (WECs), which harness power from ocean waves. Wave energy, a renewable resource, offers potential for providing clean, affordable energy to U.S. grids, coastal communities, and offshore operations.
Secretary of Energy Jennifer Granholm highlighted that the U.S.’s wave energy capacity could meet 34% of its total power generation needs. The funding, administered by the Water Power Technologies Office, will support WEC development for a variety of applications, including at-sea operations, coastal power generation, and utility-scale energy demands. The investment also aims to reduce financial risks, attract investors, and enhance technological knowledge to make wave energy a significant contributor to the country’s energy future.
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