The US Water Power Technologies Office (WPTO) has launched a $112 million funding initiative to accelerate the demonstration of wave energy technologies. The funding, which will be distributed over five years, is aimed at advancing wave energy development across multiple applications and is divided into three key areas.
A total of $16.875 million is allocated for wave device development and open water testing to support dispersed use and power-at-sea applications. Additionally, $45 million will be dedicated to wave energy projects that address the needs of coastal communities, which may include both power generation and desalination solutions. The largest share of the funding, $50.625 million, is designated for wave device development supporting utility-scale power, using offshore grid-connected testing facilities such as PacWave in Oregon.
Up to 17 projects are expected to receive funding, with individual awards ranging from $2.4 million to $25.3 million. The first concept submissions must be made by 25 October 2024 to be considered for the full application process.
The US government hopes that this investment will help establish a diversified portfolio of wave energy projects and rapidly increase deployments in US waters, supporting the country’s clean energy goals.
Rémi Gruet, CEO of Ocean Energy Europe, commented on the announcement, saying, “This reflects the growing momentum for ocean energy in the US. The government rightly identified the huge potential of wave energy as part of its energy transition and is offering a clear path to boost deployments within the next 5 years.” Gruet also highlighted how recent advancements in Europe are contributing to the industrialization of the wave energy sector globally.
