Currently, traditional wave-power systems are located permanently in the middle of the ocean, relaying juice back to the energy grid through undersea cables that aren’t cheap at $500,000 per kilometer. With this new concept, there won’t be any more need for such cables, hence reducing the cost greatly. No idea if companies manufacturing those cables will oppose vehemently to this idea though.
The proposed ship measures 50 meters long, and will rely on a system of buoys that hang from pivoting arms on the side of the ship to harvest the energy there. All electricity will be safely stored in an on-board battery that can hold up to 20 megawatts of juice. It takes around 20 hours of time out at sea at the very least to achieve a full charge.