Wave Power Fails To Live Up To Promise

the_newsbeagle writes: One of the leading companies developing wave power devices, Ocean Power Technologies, has dramatically scaled down its ambitions. The company had planned to install the world's first commercial-scale wave farms off the coast of Australia and Oregon, but has now announced that it's ending those projects. Instead it will focus on developing next-gen devices. Apparently the economics of wave power just don't make sense yet.

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