I rise to introduce legislation that is designed to speed up the development of renewable ocean energy--wave, current and tidal energy--across the nation and also in my home State of Alaska. The Hydrokinetic Renewable Energy Promotion Act of 2011 is cosponsored by my colleague from Alaska, Senator Begich. Since 2004 I have had a strong interest in working to promote the research and development of marine hydrokinetic energy--the effort to produce electricity from waves, current and tidal energy--all of which is indirectly driven by the sun. With 70 percent of our planet covered with water, marine hydrokinetic energy has the potential to be a major source of the world's clean, non-carbon emitting power in the future. The Electric Power Research Institute has estimated that our Nation's ocean resources could generate 252 million megawatt hours of electricity--63 percent of our entire electricity generation--if ocean energy gained the same financial and research incentives currently enjoyed by other forms of renewable energy. In the 2005 Energy Policy Act, we started the process of leveling the playing field. In that bill, Congress authorized Federal research and included ocean energy in both the federal renewable energy purchase requirements and the federal production incentives. In the 2007 Energy Independence and Security Act, we authorized ocean energy research and demonstration centers.…
On the recordMarch 17, 2011
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