US to support marine energy segment with USD 23m in financing

Wave. Author: Barbara Walsh. License: Creative Commons. Attribution 2.0 Generic

May 1 (Renewables Now) - The US Department of Energy (DOE) will provide up to USD 23 million (EUR 19m) in financing to support innovative technologies aimed at reducing capital costs and shortening deployment timelines of marine energy devices.

The US undersecretary of energy, Mark Menezes, announced on Monday that the Office of Energy Efficiency and Renewable Energy (EERE) will finance research and evaluation of early-stage wave and tidal current systems.

The funding will also benefit the early-stage design of power take off (PTO) and controls integration, and will enable more efficient consideration of any potential environmental impacts from developments in the segment.

The first topic covered by the programme will be focused on pre-commercial, scaled-prototype marine energy systems with high potential, according to the announcement.

(USD 1.0 = EUR 0.831)

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