Download the latest research on regional ocean power trends
Jun 10, 2009 - Clean Edge Alert
Ocean power technology has steadily been gaining momentum globally. As the tide grows for ocean power technologies it is a prime opportunity for investors and policymakers to get up to speed on the challenges and opportunities facing ocean power.
Trends and highlights from the white paper include:
Pelamis Wave Power launched the world’s first commercial wave power facility in September last year off the coast of Portugal. Several other countries including the U.S. have announced plans totaling more than 600 MW of installed capacity by 2013 according to Greentech Media Research. Within the U.S. several ocean power regional hubs are vying for $6.3 billion in state energy-efficient and clean-energy grants, $2.5 billion for research, and billions more in tax credits and other incentives available as part of the American Reinvestment and Recovery Act. Leading ocean power states like Oregon, Massachusetts, and Florida are already looking to buttress investments in their ocean power industries with stimulus dollars via innovative partnerships between wave energy companies, utilities, and research facilities.
- In 2006, the Florida Technology, Research and Scholarship Board provided $5 million in funding to create the Florida Center of Excellence in Ocean Energy Technology at Florida Atlantic University. The Center woks with the U.S. Navy, Florida Power & Light, the National Renewable Energy Laboratory and a number of private ocean power and energy companies to conduct ocean energy research, develop and test prototype technologies in the open water, and work toward the commercialization of ocean energy technologies.
- In 2007 the State of Oregon created the Ocean Wave Energy Initiative using a $5.23 million grant from the Oregon Innovation Council. OWEI connects the Oregon Department of Energy, the Oregon State University O.H. Hinsdale Wave Research Lab, Oregon Iron Works and several regional utilities.
- The Massachusetts Technology Collaborative and the Maine Technology Institute have invested close to $1 million in Ocean Renewable Power Co., a tidal energy company with projects in Maine and Florida.
To read more about Enterprise Florida, an organization promoting economic development in Florida, click here.