OREC Works With Others To Secure Funding for Ocean Energy

Back in late fall 2005 and February 2006, OREC was hard at work, supporting legislative proposals like this and this to secure funding for wave, tidal and current renewable technologies.  A few weeks ago, with the efforts of our allies in the ocean development community, we have moved closer to that goal, as described in our press release below:

(OREC - June 29, 2006) The U.S. House of Representatives voted 232-187  to approve H.R. 4761
the Deep Ocean Energy Resource (DOER) Act - an important piece of
legislation that can help reduce U.S. reliance on foreign oil and
provide clean energy alternatives to conventional power generating
systems.  Moreover, on voice vote, the House approved the Inslee
Amendment on a voice vote which increases from $6 million per year to
$20 million per year the amount allocated for direct grants to ocean
renewable projects. These grants require 50% matching funds from
private investment; however, $20 million represents a minimum
investment.

The DOER Act contains various features that
will help foster ocean renewable development, including Section 10
(authorizing Secretary to pass rules that would allow use of
decommissioned oil rigs for all purposes in Section 8(p) of the OCSLA,
including offshore renewable testing and development); Section 14
(distributing funds to support environmental studies in connection with
bio-fuels, wind…or other energy production (which would include
ocean); Section 26 (as amended, providing a minimum of $20 million
annually to fund a grant program for ocean renewable energy projects).
In addition, the DOER Act contains provisions which will allow states
a greater share of royalties from offshore energy development which
will allow offshore renewable developers to gain state support for
projects.

With your support of the DOER Act, the ocean
energy industry can become competitive with other sources of
conventional and renewable energy. We thank you all for contacting your
Representatives and securing a "yes" vote on H.R. 4761.

On Tuesday, the Appropriations Subcommittee on Energy & Water
approved $4 Million to fund Section 931 of the Energy Policy Act of
2005.

“Section 931 requires the DOE to “conduct a
program of research, development, demonstration and commercial
application for cost competitive technologies that enable the
development of new and incremental hydropower capacity, adding
diversity of the energy supply of the United States, including: (i)
Fish-friendly large turbines.  (ii) Advanced technologies to enhance
environmental performance and yield greater energy efficiencies. (…)
The Secretary shall conduct research, development, demonstration, and
commercial application programs for – (i) ocean energy, including wave
energy (…) and (iv) kinetic hydro turbines.”

While we
had requested $50 Million and received $4 Million, this represents a
sea change in Congressional attitudes towards ocean renewable power.
There is still much more to do to shepherd these congressional actions
through to reality.

Posted by Ocean Renewable on July 9th, 2006 filed in Legislative Updates