In June, Ocean Power Technologies said it had successfully tested elements of its utility-scale PowerBuoy system in anticipation of bringing the initial phase of the project online later this year.
As envisioned, 10 buoys would be anchored to the ocean floor at depths of 204 to 225 feet. They would convert the movement of waves into electrical energy.
Now I was initially impressed. Using some kind of technology to convert motion into useable electrical energy, but then I read this.
Now the red flags go up. Secure financing for a project in the last century of great innovations & inventions would have meant private investments and risk from private citizens and companies. Not anymore. In today's "too big to fail" "no risk" mentality, this could only mean one source, and if it is from the government, then this technology is no better than wind. If you read this article, my suspicions have been half way vindicated.
“The 35-year term of the license demonstrates the commercial potential of wave power, and this will support initiatives to secure financing for the project,” he said in a statement.
This is one of the largest wave-energy projects announced to date, and leverages a grant from the Commonwealth of Australia.
Well, just read a few paragraphs more of the original article and see this.
The project will cost about $3.5 million a year to run, and produce about 4,140 megawatt-hours, enough for 375 homes, according to the company.Now you may be thinking, "Wow! That's a lot of Mega-watts." But simply do the math that is not provided. The cost would be over $9,000 per year per household. Unless the average house they are speaking of is similar to Al Gore's...well...my electric bill may be high, but it is not that high. In fact, that would nearly quadruple my electric bill. Then again, for some people in New England or California, this may be the norm. But we live in an age of technology. Things should be getting cheaper, not more expensive.
To be fair, this is a short article and perhaps there is more information that is not stated. But just as burning corn is killing us in every way, and just as wind energy is a fraud, just as both are being subsidized, so this sounds like pure fraud. How else would this be affordable?
Well if you read this editorial, it turns out my red flags were spot on.
The regulatory process was only one hurdle. The development of wave power has been subsidized heavily by the state and federal governments. The company hopes that a utility eventually will finance or purchase the Reedsport project, but for now it remains an unproven technology.Ta Da! "Subsidized heavily." Need I say more, but I will. The editorial goes on to say,
The project’s total capacity of 1.5 megawatts is relatively small — the Eugene Water & Electric Board’s Carmen-Smith hydroelectric plant generates 72 times as much power — but the developer envisions expansion to 50 megawatts. If wave power proves commercially viable, the U.S. Department of Energy estimates wave sites have a total capacity of 2 trillion watts, or double the current world demand for electricity.
Wave power has significant advantages. The fuel is free, and it can be used to generate electricity with no carbon dioxide emissions. Wind power shares those advantages, but wind is more intermittent.
So my instincts were right. It is like wind. It produces nothing that we need, and the fuel is NOT FREE! like the bone head author thinks it is. This is yet another example of government fraud and corruption in which corporations rip off the tax-payer. True innovations come from the free-markets, not government frauds.