The opportunities posed by ocean renewable power are significant. A variety of technologies are available to extract usable power from the ocean environment. The legal regimes applicable to the development and operation of such projects in United States waters are fragmented. A variety of incentives are available to attract the development of ocean renewable projects. Nevertheless, renewable ocean energy projects face challenges, including whether they can be cost-competitive against other resources. Further regulatory streamlining will help renewable ocean energy projects compete in the electric industry.