Ocean Energy Benefits Included in Senate Energy Bill

Thanks largely in part to the newly created trade association, Ocean Renewable Energy Coalition, (full disclosure: I'm a founding member and CEO), the Senate Energy Bill contains several provisions for other renewable technologies that now apply to ocean renewables as well. These include making ocean energy eligible for the Department of Energy's renewable energy inventory and also for the Renewable Energy Production Incentive and federal mandatory purchase requirement. The real surprise - for the first time, ocean energy can qualify for production tax credits, a benefit that has really stimulated investment in the wind industry. For more details, visit the OREC Website or view this article at RenewableEnergyAccess.com.

If you're interested in the future of ocean energy in the country, please consider joining OREC as a member (again, visit website for details). There's still plenty of work to be done.