Once again, it's time for the latest wave and tidal round up in the United States. Here we go.
MassachusettsEdgartown recently received a preliminary permot for a proposed tidal project for Muskegat Channel, as discussed here. University of Massachusetts at Dartmouth has also requested a $5 million grant from the Renewable Energy Trust of the Massachusetts Technology Collaborative to establish a federal marine renewable energy center for the east coast.
Hawaii Lures Ocean Company Australian company OceanLinxmay become a major beneficiary of a $20 million dollar tax-free development bonds in Hawaii, according to this article in Maui News (1/29/08). The article reports that Oceanlinx could be eligible for a 100 percent technology tax credit. And Oceanlinx gets another benefit - an MOU with Maui Electric Company for the purchase of power generated by the 2.7 MW plant. Hawaii's step into ocean energy is part of the state's effort to meet an aggressive goal of deriving 20 percent of its power needs from renewables.
Rhode IslandSeems that the past few months have been busy for Oceanlinx -- in December, it entered into an agreement with the Office of Energy Resources and the Rhode Island Economic Development Corporation for two small wave energy projects, according to this source (12/3/07). However, the state recently gave University of Rhode Island a $200,000 grant to begin research on the impacts of offshore projects, with the resulting data to be used as the groundwork for ocean zoning or a criteria for permitting offshore renewable projects. The Providence Journal reports that the Oceanlinx project will be put on hold for 18 months, until the studies are completed.
Oregon Like Rhode Island, Oregon is busy with studies also, as this
news story reports. A team of biologists from Oregon State University is catagloging eastern gray whale as it migrates, passing through the site of what one day could be Oregon’s first commercial wave energy park. The data will be used to establish a baseline for comparing whether the whales' path will change direction or location after wave energy buoys are installed. the marine mammal study is funded by the Oregon Wave Energy Trust is funding the study with one million of the 4.2 million grant that OWET received from the legislature. Preliminarily, the whales are staying outside the proposed boundaries of a wave park, but more information is needed about the whales' return route.
Florida Florida is turning to the currents, with researchers at Florida Atlantic University exploring technology to tap the Gulf Stream for Energy (1/26/08). Scientists and engineers at FAU's Center of Excellence in Ocean Energy Technology are currently developing a prototype system of turbines that will be planted on the ocean floor in the Florida Straits, about 150 feet underwater. The potential is enormous -- even harnessing a small portion of the Gulf Stream's powerful currents could yield enough power for 2.5 million to 5 million homes.
My Spin So what do all of these new developments have in common? All of the states moving ahead on marine renewables are providing funding or support, either through state subsidized environmental studies, MOUs with developers or tax incentive programs. As much as many marine renewable companies want to claim that they can attract capital to finance construction of these projects, at the same time, they remain heavily dependent upon public benefits and subsidies. In my view, there's nothing wrong with public subsidies that support environmental research or help sweeten private financing deals. After all, developing a new source of clean renewable energy in a reponsible, environmentally friendly manner benefits the public by fostering energy independence and diversifying our energy supply. But let's at least be honest that marine renewables still require favorable government policies - which might include tax and investment credits for development of early stage projects, favorable tariff rates for power sales, and governent subsidized environmental studies or marine research test centers. Without these programs, the marine renewables industry might just sink rather than swim.