Some studies claim that up to 75% of Ireland's energy needs could be met by the same wave power that's a driving force behind Ireland's growing reputation as a top surfing destination.
But the industry also points out that the "very difficult technology" involved has yet to be perfected.
“It is perfectly possible to design the necessary equipment,” sats Carnegie Wave's Kieran O’Brien. “But it has to be able to withstand force 9 gales.
“We need something in the water that will extract that energy but will still be there when those storms hit."
Development of the sector is a catch-22 situation, as investors are cautious of putting in funds when no one is yet producing grid-connected power at scale, yet obviously such production requires serious capital.
Ireland in particular faces the problem of being what the industry describes as the Saudi Arabia of wave energy, yet having "no short term opportunities for R&D funding".
Journal.ie has more on the story HERE.