Tidal, current and wave energy technologies received a vote of confidence from the DOE, which has pledged up to $7.5 million in funding to support new projects. It plans on partnering with major U.S. research institutions and firms to develop new and innovative technologies that will more efficiently harness the ocean’s bountiful energy.
The DOE expects university research to focus on experimental and numerical modeling, environmental impact assessment, wave forecasting and the development of corrosion-resistant materials. Up to 17 grants will be awarded, starting later this year; the continuation of the projects will be subject to Congressional approval, which, with its expected makeup following the November elections, looks promising.
Several companies we’ve mentioned in the past — Hydro Green Energy, Verdant Power and Free Flow Power — which are all focused on hydrokinetic, or current, power, could benefit from these new grants. All have received approval from the Federal Energy Regulatory Commission (FERC) to build commercial-scale turbine arrays; Free Flow Power and Hydro Green recently unveiled plans to install turbines in the Mississippi River.
Oregon State University and a few other institutions have been on the forefront of wave power technology. OSU’s Wallace Energy Systems & Renewables Facility (WESRF) has been working with Oregon’s DOE and a variety of industry and academic stakeholders to make the state the site for one of the country’s first commercial wave parks.
