Harnessing the Power of the Waves: CalWave and DOE Funding
Any surfer who’s encountered the ocean’s might knows the power that the water possesses. Whether you picture formidable riptides or towering waves crashing into rocky peaks, there is no question that this resource can be harnessed to generate massive amounts of energy. The U.S. Department of Energy (DOE) seems to have recognized this and has allotted up to $112.5 million in funding for their “Oceans of Opportunity” initiative to further the accessibility and readiness of wave energy technology. With this mass amount of financial backing, leading companies in renewable energy can accelerate the design and testing of wave energy converters they believe will change the landscape of eco-friendly living as we know it.
The power generated by waves is superior to many other forms of renewable energy; considered more consistent and predictable, water power is also 20-60 times more energy-dense than leading competitors in the renewable energy market. Likewise, wave energy has the potential to make up approximately 34% of all U.S. power generation. Wave energy has the potential to become a key player in the fight against climate change by providing affordable and clean energy for communities across the globe.
The DOE will fund projects in three categories, including wave device development and open water testing for dispersed use cases, coastal communities, and utility power needs. Up to 17 awards, varying between $2.41 million and $25.313 million, are expected to be given to participating applicants.
Santa Cruz Wave Motor
Our community is no stranger to utilizing the ocean’s strength to solve pressing local issues. Santa Cruz’ West Cliff Drive, a famous seaside road, actually sports the remnants of a “wave motor” built in 1898 by two local innovators, the Armstrong brothers (article by Gary Griggs). The motor was not created to channel clean energy but to harness the waves to pump water. Following a drought from 1897 to 1898, the water pump helped water down the coastal wagon route to keep people from breathing in the dusty air. While clean energy wasn’t a pressing matter in the minds of the Armstrong brothers, their efforts at controlling the waves are mirrored in the renewable energy pursuits of the modern age.
Blue Innovation Day 2024
Companies like CalWave, which will join other environmentally inclined organizations on Blue Innovation Day, seek to bring cost-effective and reliable ocean wave technologies to coastal communities like ours. Their patented wave energy converters, including their xWave series, transform waves into electricity, powering hundreds of coastal homes and businesses. As these technologies advance through government funding similar to the DOE’s $112.5 million package, they can revolutionize how coastal communities meet their energy needs. CalWave is one of many companies moving in the right direction towards a greener world.
Oceans of Opportunity
If you are interested in applying for funding under the DOE’s “Oceans of Opportunity,” a concept paper must be submitted to their portal by 5 p.m. ET on October 25th, 2024. Additionally, if you want to learn more about CalWave’s xWave technology and its impact on the renewable energy sphere, join us at Blue Innovation Day 2024!