Introducing a device that converts ocean waves into electricity

A $5 million wave energy device is set to become a major source of electricity for the Australian state of Tasmania.

The product of Wave Swell (Australia) will be installed on the seabed near the coast of King Island, a famous tourist destination located between the two states of Victoria and Tasmania.

The device can produce electricity at an electricity cost of about 7.4 US cents per kilowatt hour.

The energy produced by the device will be fed into Hydro Tasmania's grid, which is powered entirely by renewable energy sources and will provide electricity to half of King Island's current population of 1,600.

Wave Swell says the device can produce electricity at a cost of about 7.4 US cents per kilowatt hour, significantly lower than the current Australian average cost of 19 US cents per kilowatt hour.

Tom Denniss, the "father" of the device, said the new device can produce electricity more economically than most renewable energy sources and more efficiently than new-generation coal-fired power plants.

Before Wave Swell’s new product, many companies struggled to commercially exploit wave energy. At least 20 projects worldwide failed to make it past the pilot stage.

Gregor McFarlane, Associate Professor at the Australian Maritime University, said the device was up to 60% more efficient than conventional devices and was a "breakthrough".

According to Khoahoc.tv