Through its Ocean Wave Energy Commercialization program, OWET has provided over $6 million in funding for R&D, project feasibility and testing to developers based in Oregon and international and national developers interested in developing projects here.
Oregon and OWET have a strong partnership geared toward achieving economic benefits for the state.
OWET reduces barriers to getting ocean energy projects into the water for both prototype deployments and commercial installations. OWET-sponsored programs seek to support the responsible development of the ocean energy industry. Because the industry is at an early stage in its development, technology design concepts are still being studied and tested.
By the end of the 2011-2013 Biennium, OWET funded over 80 projects. These projects have:
- Engaged stakeholders
- Independently answered important questions about the human, economic and environmental impacts of the ocean energy industry in Oregon
- Offered shared expertise to map out and streamline the permitting process
- Driven demand
- Brought regional utility partners to the table