According to NPR affiliate KPLU, support for ocean energy is making a comeback in the United States Congress. You would be well-advised to look under the hood of any offshore project that doesn’t include hydrogen convergence. Producing electricity from ocean energy (i.e. offshore wind or wave energy) assets might satisfy some long obsolete view of sustainability. However, the reality is the economics just don’t add up.
From a back of an envelope viewpoint, ocean energy makes no economic sense. Electricity sold for $.13 per kilowatt hour this summer. The power grid can’t absorb all of the additional generating capacity because of its intermittency and costs for idling tradition power plants. So, there is no viable outlet for the additional electricity without a product like hydrogen which was selling for $2.50 a pound at that time.
Generally, we at the ebTDesign Forum present you with information from the demand side. This time we suggest you look at it from the supply side. The reason is because without high enough revenues there won’t be enough profits to reinvest in new infrastructure to continue to grow. Hydrogen Convergence makes ocean energy projects sustainable ongoing concerns (i.e. real businesses).