Identifying promising wave energy converters.

The exploitation of wave energy is in the early stages of development. Like wind energy during the first half of the twentieth century, there is currently no standard system for the commercial extraction. This creates both an opportunity and challenge for developers and investors. An opportunity, because there is still likely to be significant IP to develop, with its associated rewards, and a challenge, because it is not yet clear which fundamental method(s) of exploitation will become dominant in the future.
Currently, it is possible to identify at least five fundamentally different types of wave energy converter and within each one of these categories there are typically many variations; consequently there are over a hundred different wave energy converter technologies being developed. Undoubtedly, the developers of each technology believe that they have a winning concept and in addition have some evidence to support this view; unfortunately, it is likely that the vast majority of these developers will be disappointed.
This presentation investigates the reasons why such a large range of technologies is currently being supported and developed. This investigation centres on identifying the particular assumptions, views and perceptions that may be held by technology stakeholders and how these factors may influence wave energy converter design to both the benefit and detriment of the technology and industry. In addition, further analysis of these factors that influence design decisions is included, together with discussion of how they may be related to both the hydrodynamics and economics of wave energy converters. The paper concludes with a graphical organisation of wave energy converter technologies that illustrates their fundamental development characteristics and supports the identification of promising technologies.