On June 26, 2024, the U.S. Department of Energy (DOE) Hydropower Technologies Office (WPTO) launched a nearly $5 million funding opportunity to support programs that accelerate the commercialization and adoption of hydropower systems and solutions. The opportunity will support programs and services for entrepreneurs and small businesses in the hydropower and marine energy sectors.
Hydropower and hydroelectric technologies, such as ocean energy, are key to enabling a clean electricity sector by 2035 and a net-zero emissions economy by 2050. These resources rely on the movement and flow of water and are generally predictable and reliable, making them well suited to balancing more variable renewable energy sources such as wind and solar onto the power grid.
This opportunity will fund projects in one topic area – hydropower incubation and acceleration – with a focus on fostering entrepreneurship, accelerating hydropower innovation, and supporting business creation and growth in communities and regions across the United States. Providing unique commercialization services and support to entrepreneurs and small businesses in the hydropower sector will spur competition and innovation, stimulating economic development. Additionally, new and expanding incubators and accelerators can collaborate with each other to build stronger innovation networks and accelerate the delivery of hydropower technologies to market.
The funding opportunity will consist of two phases. In the first phase, the WPTO plans to award up to eight projects of up to $100,000 each, expected to last six to nine months. The WPTO will then select up to four of these projects to move into the second phase, which will be eligible to receive up to $1 million each, expected to last two to three years.
Applicants must submit a concept paper. August 7, 2024 at 5:00 PM ETTo be eligible to submit a complete application, you must meet the following criteria:
Learn more about this funding opportunity and other funding opportunities within DOE’s Office of Energy Efficiency and Renewable Energy (EERE).
