The Ocean is enormous source of Energy
With experts in agreement that the most energetic wave resources are along the coasts of the Americas, Europe (UK, Scotland, Ireland, Spain, Portugal, etc.), Southern Africa and New Zealand.
It is estimated that the energy in ocean waves could be capable of supplying the entire world's energy requirements five times over.
With such significant potential, a number of technologies are being developed by start-ups around the world with the support of American and European government bodies all aiming to harnessing this potential. Various topologies are being investigated and are at different stages of development to take advantage of tidal and marine energy, wave energy, differences of temperature and salinity, but none has yet to achieve widespread commercial adoption.
To encourage this development, many countries with access to ocean energy, especially where the waves are high and stable, encourage the establishment of wave power devices by pay up to $0.40/kwh. EPRI estimates of the Levelized cost of energy (LCOE) for the first commercial-scale wave power facilities in the United States range from about 10¢/kWh to 39¢/kWh, based primarily on the wave's energy. At that tariff level and COE, the significant output of the highly efficient WavePower system makes an ROI of less than 2 years feasible!