Energy Dept. Spends $10 Million on Water Turbine to Power 25 Houses
The first underwater turbine to make use of tidal energy went live last week in Maine, supported by a $10 million investment by the Department of Energy.
The Ocean Renewable Power Company Maine’s Cobscook Bay Tidal Energy Pilot Project received the Energy Department money to build, install, and operate the hydrokinetic energy conversion devices situated at the easternmost tip of the state.The electricity produced by the tidal generation will be sold by Ocean Renewable Power Company to Maine’s utilities under a 20-year power purchase agreement, according to Boston.com. The initial price of 21.5 cents per kilowatt hour is almost double the current average price of 11.21 cents per kilowatt hour for electricity in Maine.
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