Payoff for Wave and Tidal Projects Likely to Come First in Remote Communities

The wave and tidal power industry, known collectively as marine hydrokinetic (MHK) energy, as a whole is still in the development stages, with companies eagerly looking to get their technologies in the water in places where they're economically viable. In the United States, companies have been struggling to deploy projects in the face of funding shortages and an arduous regulatory process.

One of the first places wave and tidal projects are likely to take off in the United States is Alaska, where high energy costs help make the economic case for capital-intensive renewable power.

"There are dozens of communities in Alaska that are cut off from any kind of regional or interstate grid, and they all have extremely high electricity costs, which has quite a profound social impact on the people that live there," Staby said.

According to the Alaska Energy Authority, there are nearly 200 communities in the state without access to the main power grid.  Last year, these towns received $39.7 million in public subsidies to keep their lights on and businesses operating.

Payoff for Wave and Tidal Projects Likely to Come First in Remote Communities