How Waves Could Quietly Overtake Solar & Wind

Summary

Wave energy has long struggled to break through, but advancements from companies like CorPower Ocean are changing the game. By harnessing ocean waves with innovative technologies like the WaveSpring system, CorPower’s buoys have survived extreme conditions and shown significant potential for clean energy generation. The technology’s reliability, paired with cost-reduction strategies, offers a promising future. With the right investments, wave energy could complement wind and solar power, potentially powering millions of homes and helping meet global energy demands. As wave energy gains traction, we’re nearing a new era of renewable energy.

Takeaways

• 😀 Wave energy has immense potential, capable of generating more energy than the global electricity production in 2023 (30,000 TWh).
• 😀 CorPower Ocean's buoys, designed to harness wave energy, survived record-breaking 60-foot waves and successfully delivered power to the grid in 2023.
• 😀 Wave energy is reliable, with the ocean remaining still for only about 200 hours per year, unlike wind energy which can stall for over 1,000 hours annually.
• 😀 Combining wave energy with other renewables like wind and solar can reduce the reliance on large-scale battery storage and provide a more consistent energy supply.
• 😀 Co-locating wave energy converters (WECs) with offshore wind farms can significantly cut capital costs by sharing infrastructure and operations.
• 😀 CorPower’s innovative design, using a “point absorber” buoy that moves with the waves, increases energy capture by pulling the buoy downward as well as upward.
• 😀 The addition of AI control systems allows CorPower’s buoys to optimize energy capture in real-time and survive harsh weather conditions.
• 😀 CorPower’s buoys faced severe winter storms but continued to deliver energy after re-tuning, demonstrating resilience in extreme conditions.
• 😀 Environmental concerns surrounding wave energy include noise pollution, potential harm to marine life, and electromagnetic fields from underwater cables.
• 😀 CorPower’s use of composite fiberglass and resin for buoy construction significantly reduces costs and increases durability compared to traditional materials.
• 😀 Scaling up wave energy to market price parity by the mid-2040s will require public investment in R&D, with around $74 billion estimated in funding to achieve this goal.

Q & A

What is the main challenge with wave energy compared to other renewable sources like wind and solar?

The main challenge with wave energy is that wave motion is unpredictable and variable, unlike the steady flow of wind or river currents. Waves rise and fall in a looping motion, which makes it difficult to harness energy reliably without a specifically designed technology.

Why has wave energy struggled to become a mainstream energy source?

Wave energy has struggled due to technical difficulties in creating reliable, cost-effective wave energy converters (WECs). Many projects have faced financial setbacks, failed prototypes, and the harsh conditions of the ocean environment, including corrosion and wear from constant movement.

How does CorPower Ocean's technology differ from other wave energy converters?

CorPower's wave energy converter uses a point absorber design, where a buoy moves up, down, and side-to-side in response to wave motion. The unique part of their design is a built-in tension system that allows the buoy to capture energy not just as it rises, but also as it sinks. Their technology also includes a resonance system, WaveSpring, which optimizes energy capture.

What role does artificial intelligence (AI) play in CorPower's wave energy technology?

CorPower is incorporating AI control systems to optimize the performance of their buoys in real time. During storms, the AI can adjust the buoy’s settings to make it more resistant to extreme wave conditions, helping it survive violent weather and continue producing energy.

What happened during the testing of CorPower's buoys in Portugal?

During testing, CorPower’s buoys were subjected to extreme winter storms with waves reaching up to 18.5 meters (about six stories high). The buoys not only survived these conditions but also self-adjusted and continued to generate electricity after the storms passed.

What is one of the major environmental concerns related to wave energy technology?

One major environmental concern is the impact of noise, both from installation and operation, on marine life. Underwater noise can disturb animals like dolphins and whales, affecting their communication and behavior. Additionally, the electromagnetic fields generated by underwater cables might also affect certain marine species.

How does wave energy compare to wind and solar in terms of reliability?

Wave energy is more reliable than wind energy, as the ocean remains active for a greater portion of the year. While offshore wind can stall for about 1,000 hours annually, the ocean is still for only around 200 hours. This makes wave energy a good complement to wind and solar power, especially in winter when wave energy peaks.

What are the projected costs for wave energy in the future?

Wave energy is expected to become more affordable as technology scales up. According to estimates, the levelized cost of energy (LCOE) for wave energy could eventually match that of solar and onshore wind, falling between $32 and $43 per MWh. However, this price will be achievable once the technology scales up to about 20 GW of capacity.

What is the significance of co-locating wave energy farms with offshore wind farms?

Co-locating wave energy converters with offshore wind farms offers significant cost savings. By sharing infrastructure such as subsea cables, vessels, and crews, the capital costs for both wave and wind projects can be reduced, with savings of up to 40% for wave energy projects.

What future plans does CorPower have for wave energy deployment?

CorPower plans to deploy its first 5 MW wave array off the coast of County Clare in Ireland by 2026. This will scale up to 30 MW by 2028. The project is part of a public-private partnership and is expected to generate enough power to supply 4,200 homes, with significant reductions in CO2 emissions.