Industry Market Trends

New Government Fund Allocates $13 Million for Advancing Ocean Energy Projects

May 03, 2013

Credit: Markuso. Credit: Markuso.

The U.S. Dept. of Energy (DoE) recently announced it will fund up to $13 million to develop and test advanced components and technologies to boost the performance of marine and hydrokinetic (MHK) energy systems. The DoE will select up to 10 awards aimed at developing advanced controls, power systems, and device structures specifically for MHK applications, which harness energy from waves, tides, or currents.

The new funding opportunity will support projects that increase the power-to-weight ratio of MHK devices or improve system reliability through investment in three component technologies. The DoE will select up to six projects to develop advanced control systems, including software or hardware, and perform numerical modeling or testing to assess performance improvements; up to two awards will be selected that focus on developing lighter, more compact, and more efficient power take-offs (PTOs) to increase system and component reliability and modularity and to make PTOs longer-lasting and easier to repair; and up to two projects will develop and test an advanced device structure that minimizes the loads transmitted to other components and increases the device's ability to withstand extreme conditions. See the funding opportunity announcement at the Water Power Program Financial Opportunities Webpage.

The Energy Dept. also launched a new Energy 101 video on a range of innovative MHK technologies and the Department's research and development efforts to improve performance and lower costs, which you can see below. Additional information on these efforts is available through Open Energy Information's new Water Power Gateway. See the Progress Alert and the Water Power Gateway.