Description Of The Environmental Policy Issue Essay

1170 Words Sep 9th, 2014 5 Pages
Description of the Environmental Policy Issue
As energy prices soar, growth in the US dependence on foreign oil, and concern over climate change there are many incentives for alternative renewable energy sources. One potential source is the ocean with hydrokinetic energy.
Ocean Power Technologies (OPT) Reedsport Project is the first commercial wave park on the West Coast of the United States to secure a Federal Energy Regulatory Commission license. The license authorizes the company to install a PowerBouy (the company’s trademark technology) in three phases 2.5 miles off the coast of Oregon. The first phase was to test the PowerBuoy, followed by the installation of 10 grid-connected bouys which would produce 1.5 megawatts. The third phase would be to scale up to 50 megawatts.
However, in February 2014, due to technical and financial difficulties the company notified the Federal Energy Regulatory Commission that it intended to surrender the preliminary permit for 50 megawatts but keep the first phase license for 1.5 megawatts in place. Which was later withdrawn in May 2014, and as of August 14th the Commission accepted the surrender of the license and the decommissioning.
Although an eventual failure, OPT was able to secure the license under The Energy Policy Act of 2005, Section 388. The act was signed by President Bush on August 8th, 2005 at Sandia National Labs in Albuquerque, New Mexico. Spurred by concerns about environmental quality, energy security, and…

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