Two locations in south-western Victoria have been identified for above-water wave energy power generation. 

Warrnambool and Cape Nelson have been selected for their “wave characteristics”, proximity to transmission infrastructure and separation from marine parks in a report Wave Swell Energy (WSE) commissioned from CSIRO researchers.

WSE rencelty completed a 12-month trial of its UniWave200 prototype off King Island in Tasmania, which was able to successfully supply electricity to the island's microgrid.

Proponents believe Australia's oceans could eventually complement wind and solar power.

WSE chief executive Paul Geason says the technology can reduce the price of renewable electricity and decrease dependence on battery storage.

“One of the wonderful things about waves is that they are more reliable and more consistent and less intermittent than other sources,” Mr Gleason said.

“We're not suggesting wave energy will replace the necessity for batteries.

“We are saying … it will reduce the necessity for the volumes currently projected in what are quite expensive storage solutions.”

Mr Geason says the CSIRO review showed south-west Victoria has some of the most “abundant” wave energy in the world.

“It's important, in order for this technology to be embraced, that we find opportunities for further deployment and installation,” he said.

Mr Geason acknowledged it is “still very early days” for the technology, and that an “extensive process” is needed to find the right sites for the power units.

“We have extensive community engagement,” he said.

“We don't in any way through the deployment of these units detract from the enjoyment of these coastlines and beaches.

“There will be a process of permitting and approval that will be required.”