The theoretical ocean wave energy resource potential exceeds 50% of the annual domestic energy demand of the US, is located in close proximity of coastal population centers, and, although variable in nature, may be more consistent and predictable than some other renewable generation technologies. As renewable electricity generation technologies, ocean wave energy offers a low air pollutant option for diversifying the US electricity generation portfolio. Furthermore, the output characteristics of these technologies may complement other renewable technologies.
This study addresses: (1) The energy extraction potential from the US wave energy resource, (2) The present cost of wave technology in $/kW, (3) The estimated cost of energy in $/KWh, and (4) Cost levels at which the technology should see significant deployment.
