In recent months, a number of initiatives aimed at speeding up the development of the wave energy sector have been launched in the U.S. and Europe. As part of the ongoing work to establish a viable United States wave energy industry, the National Renewable Energy Laboratory (NREL) and Sandia National Laboratories (SANDIA) are working on the creation of a sophisticated open-source modeling tool known as WEC-Sim — and the U.S. Department of Energy is also enlisting the coding community to help in its development. Meanwhile, the European WavePOD project is an industry-wide initiative that aims to solve the problem of converting captured wave energy into electricity by creating a "standardised self-contained offshore electricity generator for the wave industry."

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