Wave energy is the most promising form of ocean energy which during extraction process does not emit carbon dioxide or produce any waste. It creates no noise pollution and is environmental friendly. Unlike other renewable energy sources, it is more predictable. Till date, only a small part of abundance energy stored in waves has been utilized. This large untapped source of energy could meet the global energy demand if technical and other barriers are overcome and its cost is thereby reduced. This paper presents an overview in respect of current status of research and development in harnessing of wave energy. The article focuses on available technology to extract power, its estimated potential and current exploitation level both globally as well as in India. Further, barriers and obstacles in its deployment and commercialization and perspective of the cost of generating power have also been discussed.

Keywords : Waves, Wave Energy, Wave Energy Converter, Wave Power.