ARENA Funded Study to Uncover Wave Energy Costs
The Australian Renewable Energy Agency (ARENA) is providing $181,000 funding to support Bombora Wave Power (Bombora) to complete a detailed cost of energy study for its Wave Energy Convertor (WEC).
Bombora’s WEC design uses a responsive rolling membrane fitted to a long concrete arm resting on the sea floor. The membrane pressurises air, which is passed through a turbine to generate electricity.
ARENA CEO Ivor Frischknecht said harnessing energy from the ocean required determination, ingenuity and time.
‘Bombora has been developing its innovative wave energy device for five years. This study is an opportunity for Bombora to prove the case for its technology and continue the journey towards a commercial solution that could strengthen Australia’s position as a leader in wave power,” Mr Frischknecht said.
The $362,000 study will involve key suppliers for all major components of the system, refining earlier investigations including design reviews and production costing.
The cost of energy study is due for completion in March 2016.