The U.S. Department of Energy's (DOE's) Water Power Technologies Office announced an intent to provide nearly $5 million in funding for programs that accelerate the commercialization and adoption of water power systems and solutions. This proposed opportunity is intended to support programming and services for entrepreneurs and small businesses in hydropower and/or marine energy. DOE anticipates opening this funding opportunity in April or May 2024.

Water power technologies, including hydropower and marine energy, are key to achieving a clean electricity sector by 2035 and a net-zero-emissions economy by 2050. These resources depend on the movement and flow of water and are generally predictable and reliable. This makes them well-suited to help balance an electricity grid with higher levels of variable renewable energy like wind and solar. 

The proposed opportunity is expected to support programs that enable innovation and entrepreneurship in water power technologies, including business creation and economic growth in communities and regions throughout the United States. It will aim to fund new and/or expanded incubators and accelerators in water power to build a water power innovation network to accelerate technologies to market.

This is a notice of intent only. DOE may issue the described funding opportunity announcement (FOA), may issue a FOA that is significantly different than the described FOA, or may not issue a FOA at all.

Learn more about this notice of intent and other funding opportunities within DOE's Office of Energy Efficiency and Renewable Energy.

Key Dates

NOI Issue Date:March 28, 2024
Tentative FOA Issue Date:April or May 2024

Additional Information