Wave Energy Conversion Competition Offers Cash Prize
Ricardo has been selected by the U.S. Department of Energy (DOE) to administer a ocean Wave Energy Converter (WEC) prize challenge, aimed at helping to bring this potential source of clean energy to commercial scale.
Wave energy conversion is technology that uses the motion of ocean waves to create electricity.
Scaled WEC prototypes
The WEC Prize aims to attract innovative and next generation ideas from new and existing wave energy developers by offering a monetary prize and providing an opportunity for tank testing and evaluation of scaled WEC prototypes.
Lower cost of energy
The DOE believes that this competition will achieve game-changing performance enhancements to WEC devices, establishing a pathway to sweeping cost reductions at a commercial scale.
The challenge prize is DOE’s latest approach to encourage development for wave energy converter designs that could significantly lower the cost of energy.
Technical support for prototypes
- The challenge will also include technical experts at Sandia National Laboratory and the National Renewable Energy Laboratory, and NAVSEA – Carderock Division’s a wave tank testing facility.
- The prize participants that design and build a testable prototype unit will get the opportunity to showcase their unique concepts on a level playing field to the public and potential investors.
- In addition, the winning team(s) will receive a monetary prize after successful completion of scaled prototype testing achieving the requirements of the challenge.
The WEC Prize Challenge is expected to begin in April of 2015. Additional information on the WEC Prize Challenge and how individuals can participate in the competitions, along with eligibility, will be announced by DOE at a later date. Contact
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