As the Ocean Power Technologies acquired Federal Energy Regulatory Commission permit last week for the deployment of up to ten PowerBuoys off the coast near Reedsport, the theory of wave power being the most reliable renewable energy source has yet to be proven.
Namely, the company will first deploy one of its buoys and observe it for up to 2 years. Gregory Lennon, OPT’s senior director of marketing and sales, explained that the company will look to sell its technology if the test buoy produces enough energy, endures the circumstances at the Pacific Ocean and has minimal negative effects on local fishermen and marine life.
Regarding the wave energy cost, The World Link news portal quotes Mr. Lennon as saying that it should go down in the next few years, as it is likely to be more expensive than the market right now, due to the price of new technology, research costs and building of the equipment and infrastructure.
[mappress]
Offshore WIND staff, August 23, 2012; Image: OPT