What do we want?

Ocean Power Now want prioritised funding from the federal government for ocean technologies in order to encourage and assist in their commercial application. As the government does not provide adequate incentive for development of this technology in its current funding scheme.

We acknowledge the government’s recently announced $4.5 billion Clean Energy Initiative (CEI) in it’s May 2009 budget as a welcomed step in the right direction to a clean energy future - however we also criticise it for its funding breakdown and continuing preference to the coal industry and other renewable technologies over ocean energy.

The breakdown of the CEI: [1]

2.425 billion is set aside for carbon capture.

This is a technology that is still only in research phase and as of yet has no working demonstrative model. But yet it still receives the bulk of the funding and continues the tradition of burning finite fossil fuel when renewable energy is our inevitable future.

1.6 billion is set aside for large-scale solar power stations.

Ocean Power Now see the merit in all renewable energy but the facts show that ocean power is capable of supplying Australia’s energy at a base load level of 30%-45% compared to solar's 10%-15% [2]. Therefore ocean power based on its high capacity base load deserves prioritised funding attention, or at the very least equal to that of the solar power program.

$465 million will establish the Australian Centre for Renewable Energy in 2010.

We do not believe this is a sufficient enough investment in renewable technology and are even worried that funding may be diminished or entirely scrapped for this project due to the mounting federal government debt. So pressure needs to be put on the government to guarantee this funding will be left intact. At the same time we want the allotment of funding adjusted so that ocean power has its own energy program established that is no less than equal to that of the solar program, and in which the funds for will be redirected from the carbon capture program.
As there is a trend in previous funding schemes to favour other renewable energies Ocean Power  Now will be lobbying government to ensure it gets equal preference as its due merit accords (click here to see the technology comparison). This is a vital point as in the previous and now defunct Renewable Energy Development Initiative (REDI) had no companies using ocean power technology listed as having received any funding (click here to see previous allocated funding for the REDI).

Financial support needs to be given to to these companies - click here to see our list of Australian companies.

You can help us achieve this by showing your support by:

• Becoming a member of this blog (click here).
• Telling your friends about us and getting them to become a member of the blog.
• Filling out our template campaign letter and sending it via email or post to the MP details provided (click here).
• Personally contacting your local MP and letting them know of your interest in this technology for your area’s energy needs (click here).

1. Information on the CEI was obtained from the Australian Government, Department of Resources, Energy and Tourism, http://www.ret.gov.au/Department/Documents/CEI_Fact_Sheet.pdf.
2. Ocean Power Technology, http://www.oceanpowertechnologies.com/compare.htm.