RFI Issued for Wave Energy Converter Prize Administration

View Original Source at U.S. Department of Energy

iStock_000013197276SmallThe Department of Energy’s (DOE) Water Power Program issued a Request for Information regarding the Administration of a Wave Energy Converter (WEC) Prize, which is a potential future funding opportunity anticipated to be issued early in 2014.

Through this funding opportunity, DOE intends to fund one entity to develop and implement a prize competition, in which participants will design, build, and test WEC devices in order to demonstrate quantitative performance metrics and compete for a monetary prize purse.

The goal of the competition is to drive innovation for new and next generation wave energy devices with substantially greater performance in order to drive down the cost of wave energy to 15 cents per kilowatt hour.

DOE is currently soliciting information on potential candidates to administer the WEC Prize, as well as challenges or obstacles that could be deterrents to such applicants, through December 29. Download the RFI from the Water Power Program’s financial opportunities Web page.