Lockheed Martin, yes that Lockheed Martin, is about to create the world's largest wave-energy project off the coast of Victoria, Australia.
For about the cost of a brace of its overdue, overpriced and underperforming F-35 stealth, 'first strike' light bombers, Lockheed will deploy power buoys capable of generating 62.5 megawatts of electricity, enough for about 10,000 homes. Like most renewables, the costs ($205 million) are front-end loaded. Unlike fossil-fuel plants, there's no ongoing fuel costs. Wave energy, it seems, is free. You build and maintain the mechanical part and Mother Nature supplies the fuel at no charge - indefinitely.
Wave energy typically is ideal along continental west coasts where westerly winds have thousands of miles of open ocean to energize waves. Even on calm days off the west coast of Vancouver Island, the swells, while gentle, are something of a roller coaster. That's all virtually free and entirely clean energy.