The U.S. Department of Energy is providing $500,000 to a project testing wave energy in Oahu’s Kaneohe Bay. 

Hawaii’s congressional delegation said in a news release Friday the money will support a pilot project to deploy and test a device that will convert wave energy to electricity. The funds will test the technical readiness of the technology.

Sen. Daniel Akaka says wave energy has great potential to be a significant source of power. 

The Navy has been testing a wave energy technology in the water off Maine Corps Base Hawaii in Kaneohe Bay for about 10 years.  

The Navy hopes to provide wave-produced energy to the Marine base in 2014.