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Your Renewable News – New wave of power in renewable energy market

New wave of power in renewable energy market
Your Renewable News  Oct 07, 2008Energy experts say waves could rival wind and solar as power sources. Australia – and particularly the southern coastline – has a potentially inexhaustible source of renewable energy lapping at its shores: waves.Proponents of wave power – which uses off-shore buoys and pumps to run electricity generators – claim the technology could generate at least 35% of the nation’s power needs.If embraced, it could prove as efficient as wind power and more affordable than solar options, according to the three companies that have already started harnessing Australia’s oceanic energy.And governments are warming to the idea – but not as quickly as advocates would like. The Federal Government has pumped $5 million into the Biopower company, which runs prototype wave power units in Bass Strait, and the State Government has allocated $72 million for green energy initiatives, including wave energy.

Your Renewable News – New wave of power in renewable energy market

Tags: renewables

October 8, 2008 - Posted by Christina Macpherson | ENERGY