Lawmakers propose US$1bn to advance marine technology

Democrats Nanette Barragan of California and Suzanne Bonamici of Oregon introduced the measure aimed at full scale commercialisation of marine energy, that captures the power from waves, tides, currents, and other water-based resources. The funding would be used for demonstration projects, research and development, detailed resource potential mapping, workforce development, and more efficient permitting processes, according to hydroreview.com.

“Nearly 40% of the US population lives in coastal communities where marine energy resources are abundant and offer tremendous potential to power our communities with clean, renewable energy, including California,” said Barragán. “With the Marine Energy Technologies Acceleration Act, we can usher in an emerging clean energy resource to help our nation, and our communities meet clean energy and decarbonization goals, reduce pollution, and create high-paying jobs.”

Eco Wave Power and Altasea – a public/private ocean technology hub at the Port of Los Angeles dedicated to growing the blue economy – has one such demonstration project in the works, ready to install the first US onshore wave energy pilot station.

“For too long, this useful source of power has had a back seat to investments in other renewable and non-renewable forms of energy,” said Terry Tamminen, chief executive officer of AltaSea. “With this bill, Representative Barragán puts wave and tidal energy on the map – and does so in a very meaningful way.”

Rep. Bonamici said she the legislation would catalyze the development of the marine energy field and support the coastal communities, adding “The scale of the climate crisis requires us to use every possible approach to rapidly transition to a clean energy economy. Marine energy has the potential to tap into the immense power of the ocean, but the industry’s progress has been hampered by inconsistent and limited federal investment.”