From early-stage developments to commercial-level deployment, OWET strives to get responsible projects into the water, and to position Oregon as a national and global leader in the ocean energy sector.
OWET achieves its mission by funding and supporting four main efforts: research and development, regulatory development, market development and stakeholder outreach and education. Our efforts have resulted in significant advances in all of these categories.
Employment directly related to ocean energy projects is increasing significantly.
OWET itself has helped create or retain nearly 60 family-wage jobs in the state in manufacturing, transportation and research.
Over the next three years, we expect ocean energy projects in Oregon to add about 150 jobs per year, which is consistent with the analysis by EcoNorthwest, who concluded “at the mature industrial stage, the wave energy industry could sustain over 11,000 jobs along Oregon’s coast and over 13,000 jobs statewide.”
EcoNorthwest has also concluded that during the commercialization stage Oregon will see a value of $50 million annually from the industry and $2.4 billion annually at maturity.