It’s hard to do wave energy: OPT surrenders its permit to pursue a 100-buoy, 50-megawatt wave energy array off Oregon. A smaller array is in doubt, too.
It’s déjà vu all over again as Lockheed Martin and Ocean Power Technologies play up a planned Australian wave energy project and OPT’s stock soars.
Subsidies for srappy little wave energy startups are one thing, but what about for companies whose execs make a half-million a year while a key project founders?
The US focuses a new round of marine energy funding on better power take-off systems, but also puts $2.4 million into researching the environmental impact of development.
Wave power hasn’t put energy on the U.S. grid, yet at least, but it does seem to be progressing in powering coastal surveillance systems.
Ocean Power Technologies says a 2013 deployment of its already much-delayed Oregon wave buoy is unlikely, and the state thinks it won’t happen until 2016.
Ocean Power Technologies says a permitting issue could mean its historic Oregon wave energy project won’t move ahead this year.