How Waves Could Power A Clean Energy Future
CNBC・2 minutes read
Wave energy off the U.S. coast could provide a significant portion of the electricity mix, but challenges in device construction persist. Companies are developing innovative converters, aiming to achieve cost parity with other renewable energy sources, albeit hindered by current pricing projections.
Insights
- Wave energy has the potential to contribute significantly to the U.S. electricity mix, with estimates suggesting it could generate 10% to 20% of the total electricity annually, highlighting its importance as a renewable energy source.
- Despite challenges in developing wave energy converters, federal funding is supporting U.S. companies in testing these devices at dedicated facilities, showcasing a commitment to advancing wave energy technology and potentially overcoming obstacles in harnessing wave power effectively.
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Recent questions
How much electricity could waves off the U.S. coast generate annually?
2.64 trillion kilowatt-hours
What challenges are faced in building devices to harness wave energy?
Harsh ocean environment
Where are U.S. companies testing wave energy converters?
PacWave
What is the goal of wave energy technology in relation to wind and solar power?
Provide consistent energy production
What is the current cost projection for wave energy devices?
$0.60 to $1 per kilowatt hour
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Summary
00:00
Harnessing Wave Energy for Renewable Electricity Production
- Waves off the U.S. coast could generate 2.64 trillion kilowatt-hours of electricity annually, potentially comprising 10% to 20% of the electricity mix.
- Building devices to harness wave energy has been challenging due to the ocean's harsh environment.
- Federal funding is aiding U.S. companies in testing wave energy converters at PacWave, the nation's first grid-connected test facility.
- European counterparts have been testing wave energy devices since the early 2000s off the coast of Scotland.
- Various technologies aim to convert oscillatory wave motion into electricity, with uncertainty on the most effective approach.
- Wave energy could complement wind and solar power by providing consistent energy production in all weather conditions.
- Infrastructure for scaling up wave energy systems and connecting them to the power grid is complex and costly.
- Companies like CalWave and Oscilla Power are developing innovative wave energy converters for grid-scale electricity production.
- C-Power's StingRAY and Eco Wave Power's onshore devices offer unique approaches to harnessing wave energy efficiently.
- Despite challenges, advancements in wave energy technology show promise for transitioning to renewable energy sources.
11:56
"Wave energy cost and environmental impact challenges"
- Wave energy technology aims to reach cost parity with solar and wind energy, targeting less than $0.06 per kilowatt hour, but current projections estimate wave energy devices at $0.60 to $1 per kilowatt hour, hindering widespread deployment due to the low cost of hydrocarbons.
- Efforts are ongoing to monitor the environmental impact of wave energy devices on marine ecosystems, with a focus on understanding species interaction. Despite potential delays in permitting due to environmental concerns, convergence around a specific design principle could streamline the process, with experts highlighting low-power opportunities like data gathering and subsea robotics as immediate options for implementation.
