U.S. DOE Awards $37 Million for Development of Hydrokinetic and Marine Energy Technologies

The U.S. DOE (Department of Energy) has awarded over $37 million towards technology development in the fields of hydrokinetic and marine energy, otherwise known as MHK technologies. This is towards generating renewable electricity from streams, free-flowing rivers and the nation’s oceans.

For this purpose, 27 projects have been lined up ranging from component design research to concept studies along with prototype development as well as in-water testing of devices. Such unprecedented funding levels would definitely advance the ability possessed by the hydrokinetic and marine energy technologies in contributing towards the country’s electricity supply.

The nation’s thermal gradients, ocean waves and other promising energy sources are located close to electricity demand centers. The DOE is working along with national laboratories, universities and other industries towards developing capable technologies for generating cost-competitive and environmentally-sustainable power, while leveraging private sector investments.