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Potential Role and Implications Co-produced fluid resources are available for development in existing oil fields today. Distributed generation facilities such as those found at the Chena Hot Springs in Alaska, the Burgett greenhouse in Las Animas, New Mexico, and the Rocky Mountain Oil Test Center in Wyoming are examples of small-scale electricity production, which satisfy the electricity needs at each facility. Excess electricity is sold back to the grid providing additional revenue for these projects. Finally, this source of energy can help fulfill Renewable Portfolio Standards (RPS) that attempt to diversify domestic energy supply, because it is clean and emits far less greenhouse gases than equivalent fossil-fuel electricity generation. Wave Energy As wind energy passes over water, an energy transfer occurs that creates waves. Wave energy is determined by the square of the amplitude and the period of the motion.157 Waves with a long period (7 to 10 seconds) and large amplitude (~2 meters) can store about 40 to 50 kW per meter of energy. Large waves are located at the 30° to 60° latitude.158 In the United States, states such as California, Hawaii, Virginia, Rhode Island, and Oregon have been conducting wave energy research and development activities.159 Other regions which have advanced technologies are the European Union, China, India and Japan. Wave energy extraction devices are designed based on location and are categorized as onshore, offshore, and far offshore. The United States primarily focuses on offshore and far offshore wave technologies. Wave energy devices use a variety of methods, such as using water flow to force air through a turbine, the oscillating movement of an electric coil around a magnetic shaft, or the flexing of floating devices to power hydraulic pumps that produce electricity. 160 Energy Independence and Security Wave energy reserves show potential to diversify the U.S. energy mix. If current extraction technology matures, projections estimate that the United States could economically exploit 140 billion to 750 billion kWh per year of wave energy with the potential to reach as high as 2,100 billion kWh per year.161 Though wave energy technology will not contribute to decentralization, it may help secure U.S. energy independence by increasing domestic energy supplies. Economic Impact and Feasibility Although research into wave technology began in the 1970s, most device designs are still in prototype and demonstration stages, with very few operating commercially. Due to this uncertainty, capital cost investments are high at $4,000 to $15,000 per kW.162 Continued research and development will be required to decrease these initial costs. Early projects intended to prove the validity and feasibility of wave energy technology are suggested to cost between $0.15 and $0.20 per kWh.163 The California Department of Energy predicts electricity harnessed from wave energy technology along the West 53PDF Image | Shaping Energy Technology Transition
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