Aug. 29 (Bloomberg) -- The U.S. Energy Department is providing $16 million to back 17 projects related to capturing power from waves and tides.
The recipients include Ocean Power Technologies Inc., which is developing a power buoy that produces electricity; ABB Ltd., which is building a compact generator; the University of Maine, which is studying the reactions of marine life to power systems; and Dehlsen Associates LLC, which is designing software to predict wave conditions.
The agency has identified as much as 1,400 potential terawatt-hours of annual generating capacity from waves and tides, according to a statement today on the agency’s website. One terawatt-hour could power about 85,000 homes.
“Wave and tidal energy represent a large, untapped resource,” David Danielson, assistant secretary for energy efficiency and renewable energy, said in the statement. The U.S. uses about 4,000 terawatt-hours annually, according to the Bureau of Ocean Energy Management’s website.
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