A new organization called Pacific Ocean Energy Trust (POET) has been established to drive forward the development of marine renewable energy in the Pacific region.
Growing out of the Oregon Wave Energy Trust (OWET), POET will promote the responsible development of marine renewable energy in the Pacific region through research, education, and outreach.
POET is founded on the belief that marine renewable energy energy represents a big opportunity for the Pacific region to meet policy goals around renewable energy and economic development, while protecting the many and valued uses of the ocean and its environment.
The organization partners with public and private entities to develop and fund programs that advance shared understanding of the ocean, how to most responsibly capture some of its power, and how to protect it.
Key focus areas for POET include advocating for coordinated and efficient federal, state, and local policies and regulations to responsibly advance the renewable ocean energy industry in the Pacific region, and working with regional utilities to help build familiarity and acceptance of ocean energy, and facilitate grid integration.
Also, POET will seek to improve the market for marine renewable energy, maximize the economic development opportunities in the region, while increasing public support for marine renewable energy development.