Why should we invest in marine renewables?
The beauty of marine renewables is that they are located near our nation’s coastlines and close to population centers, thereby reducing transmission costs. In addition, marine renewables provide an indigenous, emission free source of energy which will help fight global warming and wean our nation from dependence on foreign oil. As discussed in this Wave Energy White Paper prepared by MMS, the total average wave energy potential off U.S. coastlines is estimated as 2100 TWh/yr. Reduced for efficiencies and conversion losses, the more realistic generation figure is 252 TWh/yr or roughly the same amount of power currently supplied by traditional hydropower. Offshore wind resources on the Outer Continental Shelf have been estimated at 900,000 MW (see MMS Whitepaper on Offshore Wind). A robust marine renewables energy industry can help create jobs, revitalize abandoned shipyards and improve the economies of coastal communities. And marine renewables also provide opportunities for technology
