As of February 2010, America's first wave power-generation farm is in construction off the coast of Oregon. Ocean Power Technologies, a firm based in the American state of New Jersey, is installing 10 buoys near Reedsport, Oregon that, when popped up and down with the motion of sea waves, will generate enough power for 400 homes. The power will be delivered to shore through a series of underwater cables. The underwater portion of the buoys contain an electrical generator that harnesses the vertical up/down motion of its floating portion. Wave power is a promising form of sustainable energy because it is more consistent, predictable, and reliable than solar or wind. However, it has to date faced a lot of challenges in implementation; in 2008, the world's first wave power generation farm in Portugal had to halt production due to financial constraints. Also in 2008, a Canadian-made wave power device sunk off Oregon's coast.
The installation of these 10 buoys is set to cost $US 60 million.