Renewable energy resources are fundamental in fighting climate change, with the future of energy harnessed through natural elements including wind, solar, hydropower, geothermal, and now waves. The U.S. Department of Energy (DOE) announced they are investing $27 million in federal funding for development and research projects utilizing wave energy according to Power Mag.
A majority of renewable energy sources have a large impacting footprint compared to wave energy that has a minimal footprint. The funding for this project aims to “advance wave energy technologies toward commercial viability,” and selected projects will research the PacWave South facility off the coast of Oregon according to the DOE.
Construction to build PacWave South began last month with the goal of completing the operational site in 2023 with funding through grants from the DOE and the state of Oregon, among others. The current plan is to divide the budget into three parts, including $15 million for testing wave energy convertor tech, $7 million for wave energy development and research, and a maximum $5 million for the advancement of wave energy convertors PacWave.
According to the DOE, the full applications for funding are due in October, and this project will contribute to the shift in moving away from using fossil fuels while promoting renewable energy. The potential of wave energy is spreading worldwide, with developments in Europe providing evidence wave energy as a promising renewable marine energy source.