Lockheed Martin Sails Into Wave Energy

Here’s what Lockheed Martin and its technology partner Ocean Power Technologies are doing in wave energy. I’ve seen similar concepts, and I’ve always been skeptical. Will this generate electricity? Of course. Will it do so cost-effectively? I’m not sure.

The project’s nameplate capacity, i.e., the intended technical full–load sustained output, is 19 megawatts, but I would think it would have a small capacity factor, i.e., the ratio of the actual output of a power plant over a period of time and its potential output if it had operated at full capacity the entire time.

And that’s just the start. I wonder what this thing’s going to look like after a few years in the ocean, after rust and biofouling (e.g., barnacles) take their toll. What’s its survivability in a big storm?  Then there are other considerations: To a certain extent, it’s a hazard to ocean navigation. And it’s moored to the ocean floor, which means a whole slew of environmental issues with aquatic life.

We’re anxious to replace fossil fuels, and we find ourselves going in directions many of which won’t pan out.  Is this one of them?  I’m not sure.  To me, this is a perfect example of something that has merit theoretically, but that I wouldn’t put on our “cleantech investors” page, simply because, given these issues, I wouldn’t invest my own money in it.

Having said all this, I feel a bit sheepish second-guessing a company of the stature of Lockheed Martin; for this to have come so far, it’s clear that a whole bunch of really smart people stand behind this idea.  So maybe I’m missing something here; it certainly wouldn’t be the first time.