The Department of Energy signaled its intent to increase funding for projects designed to generate energy from ocean tides and waves.
Energy officials in a press release said that they would begin accepting applications for funding by March 31. They did not set a target for issuing grants or tax credits.
The department is looking for early stage and commerical projects as the country plays catch up to Europe and Canada
Ocean energy is an area of power generation that has largely been overlooked. Instead the department has favored renewable generation from solar and wind as well as conversation projects built around smart grids and green-building innovations.
In 2008, before the Obama Administration took over, the DOE dolled out several million dollars to companies such as Lockheed Martin for ocean projects. Another 11 million or so followed in 2009 for research but some product testing.
The department is now focused on technology development and deployment, and not just from waves and tides but river currents and stable, cool ocean temperatures. These projects can range from early stage invention to “proof-of-concept and commercial-scale operation,” according to energy officials.
The country has a certain amount of catch-up to play. Europe – particularly the United Kingdom – and Canada already have projects underway. Without question, the DOE money will provide a boost.
