Energy

U.S. announces millions in funding for projects focused on wave energy

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Scott Heaney | iStock | Getty Images

The U.S. Department of Energy has announced that as much as $27 million in federal funding will be provided for research and development projects focused on wave energy.

In the latest attempt to encourage innovation within a sector that has a very small footprint compared to other types of renewable energy, the DOE said Tuesday the funding would aim to “advance wave energy technologies toward commercial viability.”

Selected projects will undertake their research at the PacWave South facility, which is located off the coast of Oregon.

Construction of PacWave South — which has received grants from the DOE and the State of Oregon, among others — began…



Source cnbc.com

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