Ocean power: catching a wave but ahead of the curve

Wave power may eventually become a factor in providing electrical energy, but it isn't going to happen before we've all switched to flourescent or LED lighting. And it may not happen before we are paying $150 for a barrel of crude oil.

Wave power may eventually become a factor in providing electrical energy, but it isn't going to happen before we've all switched to flourescent or LED lighting. And it may not happen before we are paying $150 for a barrel of crude oil.

Recently the US approved plans for a wave-powered generating facility off the coast of Northern California. Once in operation the plant would sell power to Paxcific Gas & Electric.

The installation will be built by Vancouver, BC-based Finavera. The firm is publicly traded on the Toronto Stock Exchange. And looking at their evaluation I think they are ahead of the curve: Finavera stock is now worth half what it was a year ago. Clearly the market is not wildly optmistic about wave power.

That's doesn't mean an end to numerous more efforts to build wave-powered generation devices. Just google "wave power" and take a look...there's even one in Namibia. That'll be built by Aussie firm, Oceanlinx.

Here's a blog from a couple months ago where I took a look at wave power projects in Europe and elsewhere. here will be many more shifts in the ocean tides before wave power becomes a tsunami in financial terms. But perhaps we can allow some optimism that it will eventually pay off. Finevera certainly hopes so.

Newsletters

You have been successfully signed up. To sign up for more newsletters or to manage your account, visit the Newsletter Subscription Center.
See All
See All