Results for tag: "Wave Energy Converter"

The Wave Energy Converter (WEC) market is a subset of the hydro power industry. WECs are devices that capture the energy of ocean waves and convert it into electricity. They are typically mounted on the seabed and use the motion of the waves to drive a generator. WECs are an emerging technology, and their potential to generate clean, renewable energy has attracted considerable interest from investors and governments. WECs are typically deployed in areas with high wave energy potential, such as the coasts of Europe, North America, and Australia. The cost of WECs is still relatively high, but is expected to decrease as the technology matures. The development of WECs is also being supported by government subsidies and incentives. Some of the companies in the WEC market include Ocean Power Technologies, Carnegie Wave Energy, and SINN Power. Show Less Read more