Oscilla Power, Inc. (OPI) is developing a low cost wave energy converter to unlock the tremendous renewable energy potential of the world`s oceans. Oscilla Power is a privately held company, backed by investors with deep experience in the energy and financial services industries. OPI operates out of a 5,000 square foot office, lab and testing facility on the north shore of Lake Union in Seattle, WA and has satellite offices in Edinburgh, Scotland and Madrid, Spain. The world`s most energetic waves are found on the US West Coast, Northern Europe, Chile, Australia and New Zealand, but there are many areas around the world where wave energy could prove cost competitive.
In comparison with wind or solar energy, it's easier to accurately predict how much and when energy can be generated. Because the peaks and troughs of wave energy are not in synch with those from wind or solar, combining the power from these sources acts to even out their combined output, leading a more predictable and steady renewable energy mix.
A diverse renewable energy portfolio will lead to a more stable energy system, reduced variability and lower cost. In addition, a strong renewable energy mix means we become less reliant on traditional power sources such as oil and gas. This will lead to greater energy security.