Wave energy is a renewable energy resource.
Wave's relative reliability and constancy put it way ahead of wind and solar resources. Unlike solar, the wave resource is available night and day, and it is more constant than both wind and solar PV. Estimates suggest the cost of integrating wave into existing energy systems could be 10 per cent less than costs of integrating wind and solar PV.
Wave is much more predictable and consistent than other renewables with proven ability to accurately forecast three days ahead. The inherent consistent nature of the wave resource and slowly changing patterns allows for better supply-demand management, planning and integration.
Wave has greater energy density compared with most renewable energies, which means that more energy can be produced from a given environmental footprint.
Excellent wave resources are located near large populations and industries all around the world – where both electricity and clean water are in high demand. According to the US Department of Energy, 50 per cent of the United States population live within 50 miles of either coast. The Australian Bureau of Statistics states that in Australia 85 per cent of the population lives within 50km of the coast