From Envirowiki

Wave power is the generation of electricity from the motion of ocean waves. Wave power is usually derived from some kind of pump or generator operating on the up-down motion of the waves. This is different to tidal power, which generally operates in flows through bottle necks (for example the opening of tidal lakes).

Wave power has massive potential for any areas bordering on the open ocean, where there are consistent large swells. In many of these areas, swells often do not get smaller than a meter, meaning that wave power generation can be used as base-load power.

For example, Australia, which borders on the Indian ocean, the Southern ocean and the Pacific ocean could potentially draw up to 35% of it's electricity demand from wave power^[1].

[edit] References

1. ↑ Sawyer, Tim. Interview with Robyn Williams. New wave technology a potential major source of energy - Science Show. 2008-10-04. Retrieved on 2008-10-11.