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Mike Muglia hates to miss a wave.

A self-described surf junkie, Muglia catches waves on his surfboard off the coast of the Outer Banks in North Carolina. Further into those waters—15 nautical miles to be exact—sits another surfer. Aptly named Waverider, this surfer is a 440-pound, half banana-yellow, half beet-purple buoy that Muglia uses to study the energy that flows in our oceans.

This banana-yellow Waverider buoy will spend 12 months off North Carolina’s coast, collecting data on ocean waves, currents, tides, and water temperatures to help marine energy developers find the best spots to source clean, renewable energy from the ocean. Photos courtesy of Mike Muglia

Marine energy—clean power generated from ocean currents, waves, tides, and water temperature changes—is still young, but it has the potential to deliver clean, renewable electricity to coastal communities where nearly 40% of Americans live. Before that can happen, scientists need to pinpoint which oceanic arteries host the most reliable energy. With 3.4 million square nautical miles of U.S. waters—a larger area than the combined landmass of all 50 states—there is a lot left to explore.

Now, Muglia and Miguel Canals just deployed two new Waverider buoys—one off the coast of North Carolina and the other off Puerto Rico. There, the surfers will collect detailed data on the surface waves in those areas of the Atlantic Ocean, adding to publicly available data sets on waves, currents, and water temperatures that will not only move marine energy closer to widescale use but also help scientists understand how climate change is affecting our oceans.

Muglia is a principal investigator at the Southeast Atlantic Coastal Ocean Observing Regional Association and research professor at the Coastal Studies Institute of North Carolina, and Canals is a principal investigator at the Caribbean Coastal Ocean Observing System in Puerto Rico.

“We want to characterize the wave energy resources available,” said Canals, who, like Muglia, surfs the same waves he studies. “But we also want to collect long-term data on waves to understand the ocean and the changing climate for the benefit of future generations.”

The National Renewable Energy Laboratory (NREL), which owns the two Waverider buoys, partnered with ocean experts Muglia and Canals to collect this critical new data. This NREL-led effort is part of a larger, nine-year project funded by the U.S. Department of Energy’s Water Power Technologies Office. The collaborative, multi-institution study generates the resource data that technology and project developers need to design the next generation of devices. No one institution (or buoy) can collect it all, which is why partners like Muglia and Canals are so valuable. The data these partners generate are used to verify and improve model accuracy, and are also valuable on their own as detailed records of the real ocean. The data from this project—both the measurements and the models that use them—is publicly available on the Marine Energy Atlas.

“The ocean,” said Levi Kilcher, a physical oceanographer at NREL who leads the Waverider and Marine Energy Atlas projects, “is an extremely challenging environment. But we’re starting to see success, which makes it a very exciting time to be in this industry.”

On Aug. 2, 2021, Muglia set off in the Miss Caroline with a deckhand and marine mammal observer, who watched for sea turtles, dolphins, and other wildlife that might swim too close to the boat. For the 40-nautical-mile, three-hour trip, the bulbous Waverider buoy sat secure in a rubber tire on the back of the small skiff. When the Miss Caroline cruised to the selected spot—indistinguishable from the surrounding waters except by GPS—the team scanned the area for underwater obstacles before anchoring the Waverider under an almost-cloudless, blue sky.

From their lonely ocean homes, the two buoys will send live data back to Muglia’s and Canals’ teams using satellite communications systems. Solar panels help power those systems, and flashing lights alert boats to keep a safe distance.

Now, Muglia, Canals, and their colleagues and students wait impatiently for the first batch of data to stream in. Wave energy researchers and engineers are also waiting impatiently. Using high-quality data on how the ocean moves, they can design wave energy converters that are better tailored to extract energy from the motion of the ocean surface.

The data can serve climate and environmental scientists, too.

In the tropical Puerto Rican waters, violent winter storms and summer hurricanes can create energetic seas. Canals and his team chose their buoy site specifically for its high energy potential—those waves pack power—but the data can also help researchers understand how extreme wave events impact the coastal environment. So far, Canals has only lost one buoy in Puerto Rico—to Hurricane Maria. It was recovered two weeks later off the Turks and Caicos Islands.

Canals, who successfully deployed his Waverider on June 15, 2021, also chose his site because the seabed lacked a significant population of benthic organisms—seabed dwellers, like clams, oysters, sea stars, or sea cucumbers—or sensitive habitats. “There’s just sand and mud,” he said, “which makes it an ideal location for the anchor deployment.”

In Puerto Rico, the Waverider buoy can help climate scientists track how extreme waves—forged in violent winter storms and summer hurricanes—can impact the coastal environment. Photos courtesy of Miguel Canals

Neither Canals nor Muglia, who monitor multiple offshore buoys, have ever seen wildlife get tangled in buoy moorings. In fact, they have seen the opposite: The buoys attract shoals of slender, mud-colored Cobia and big-nosed, neon-yellow mahi-mahi, which like to swarm the bobbing devices.

And the Waveriders are not just for fish and scientists.

By streaming the buoys’ measurements to North Carolina’s Jennette’s Pier aquarium, which welcomes about 250,000 visitors a year, “the public can walk in and see what the wave heights are, see what the water temperature is, see what the ocean surface currents look like off the coast of North Carolina,” Muglia said.

You can find the same data from any computer anywhere in the world: With an online data feed available through the Coastal Data Information Program, surfers like Canals and Muglia can check for dangerous currents, frigid temperatures, or flat waves before heading out on their surfboards. It can also help law enforcement navigate volatile waters to catch up with offshore lawbreakers.

“Even though the main purpose is for resource characterization,” Canals said, “the buoy will have a lot of applications for surfers, fishermen, paddleboarders, divers, law enforcement, coastal managers, and boaters.”

Both buoys now float near the Gulf Stream, which swings through the Gulf of Mexico (near the Caribbean Coastal Ocean Observing System on Puerto Rico’s northern coast) and hooks around Florida before heading up the east coast to Canada. With its warm and nutrient-rich waters, the Gulf Stream is a major regulator of the world’s climate, feeds marine wildlife, and helps their populations thrive, so the U.S. fishing industry can thrive, too.

Still, Muglia said, “What happens down here is not well understood.” Those rich, energetic waters could help power coastal communities with clean energy. But, if their temperatures shift or their speedy currents slow, that could disrupt global weather and climate, potentially causing more violent storms in Europe or higher sea levels in major U.S. cities like Boston and New York.

The two Waverider buoys will help both marine energy developers and climate scientists better understand these mysterious waters.

For now, as he waits for the data, Muglia is guaranteed to never miss another wave—either on his surfboard or in his laboratory—with the Waverider surfing offshore.

Learn more about NREL’s water resource characterization research.

Article courtesy of NREL.

 

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Here’s what TSLA analysts are saying about Tesla’s big delivery miss

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Here's what TSLA analysts are saying about Tesla's big delivery miss

Most Wall Street analysts covering Tesla’s stock (TSLA) badly misread the automaker’s delivery volumes this quarter. Some of them have started releasing notes to clients following Tesla’s production and delivery results.

Here’s what they have to say:

According to Tesla-compiled analyst consensus, the automaker was expected to report “377,592 deliveries” in the first quarter.

Tesla confirmed yesterday that it delivered only 336,000 electric vehicles during the first three months of 2025.

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  • Cantor Fitzgerald was the first analyst firm to issue a note after the release. They reaffirmed their overweight rating with a $425 price target. As we previously reported, Cantor has some major conflicts of interest with Tesla and CEO Elon Musk.
  • Truist Securities maintained its hold rating on Tesla’s stock, but it greatly lowered its price target from $373 to $280 a share. They insist that while their earnings expectations have crashed because they overestimated deliveries, investors should focus on Tesla’s self-driving effort, which they see as “much more important for the long-term value of the stock.”
  • Goldman Sachs lowered its price target from $320 to $275 a share. The firm expected 375,000 deliveries from Tesla in Q1 and therefore had to adjust its earnings expectations with almost 40,000 fewer deliveries.
  • Wedbush‘s Dan Ives, one of Tesla’s biggest cheerleaders, called the delivery results “disastrous”, but he reiterated his $550 price target on Tesla’s stock.
  • UBS has reiterated its $225 price target which it had lowered last month after adjusting its delivery expectations in Q1 to 367,000 – one of the more accurate predictions on Wall Street.
  • CFRA‘s analyst Garrett Nelson reduced his price target from $385 to $360 a share.

Electrek’s Take

I find it funny that most of them are maintaining or barely changing their expectations after they were so wrong about Tesla in Q1.

If you were so wrong in Q1, you should expect to be incorrect also for the rest of the year, and readjust accordingly.

But Cantor is invested in Tesla, and the firm is owned by Elon’s friend, who happens to now be the secretary of commerce. Truist still believes Elon’s self-driving lies, Goldman Sachs overestimated Tesla’s deliveries by the equivalent of $2 billion in revenues, and Dan Ives is Dan Ives.

Covering Tesla over the last 15 years has confirmed to me that most Wall Street analysts have no idea what they are doing – or at least not when it comes to companies like Tesla.

Do you know any who have been consistently good lately? I’d love suggestions in the comment section below.

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Fintech stocks such as Affirm, PayPal plunge on concern Trump tariffs will hurt consumer spending

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Fintech stocks such as Affirm, PayPal plunge on concern Trump tariffs will hurt consumer spending

The global market rout on Thursday, sparked by President Donald Trump’s announcement of widespread tariffs, had an outsized effect on fintech companies and credit card issuers that are closely tied to consumer spending and credit.

Affirm, which offers buy now, pay later purchasing options, plunged 19%, while stock trading app Robinhood slid 10% and payments company PayPal fell 8%. American Express and Capital One each tumbled 10%, and Discover was down more than 8%.

President Trump on Wednesday laid out the U.S. “reciprocal tariff” rates that more than 180 countries and territories, including European Union members, will face under his sweeping new trade policy. Trump said his plan will set a 10% baseline tariff across the board, but that number is much higher for some countries.

The announcement sent stocks reeling, wiping out nearly $2 trillion in value from the S&P 500, and pushing the tech-heavy Nasdaq down 6%, its worst day since the start of the Covid-19 pandemic in 2020.

The sell-off was especially notable for companies most exposed to consumer spending and global supply chains, including payment providers and lenders. Fintech companies that rely on transaction volume or installment-based lending could see both revenue and credit performance deteriorate.

“When you go down the spectrum, that’s when you have more cyclical risk, more exposure to tariffs,” said Sanjay Sakhrani, an analyst at Keefe, Bruyette & Woods, citing PayPal and Affirm as businesses at risk. He said bigger companies in the space “are more defensive” and better positioned.

Visa, Mastercard and Fiserv held up better on Thursday.

Dan Dolev, an analyst at Mizuho, said bank processors such as Fiserv are less exposed to tariff volatility.

“It’s considered a safe haven,” he said.

Affirm executives have previously said rising prices might increase demand for their products. Chief Financial Officer Rob O’Hare said higher prices could push more consumers toward buy now, pay later services.

“If tariffs result in higher prices for consumers, we’re there to help,” O’Hare said at a Stocktwits fireside chat last month. Affirm CEO Max Levchin has offered similar comments.

However, James Friedman, an analyst at SIG, told CNBC that delinquencies become a concern. He compared Affirm to private-label store cards, and pointed to historical trends in credit performance during downturns, noting that “private label delinquency rates run roughly double” in a recession when compared to traditional credit cards.

“You have to look at who’s overexposed to discretionary,” he said.

Affirm did not provide a comment but pointed to recent remarks from its executives.

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Mazda’s $20,000 Chinese EV is about to launch overseas and a new SUV is up next

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Mazda's ,000 Chinese EV is about to launch overseas and a new SUV is up next

Wait, Mazda sells a real EV? It’s only in China for now, but that will change very soon. The first Mazda 6e built for overseas markets rolled off the assembly line Thursday. Mazda’s new EV will arrive in Europe, Southeast Asia, and other overseas markets later this year. This could be the start of something with a new SUV due out next.

Mazda’s new EV rolls off assembly for overseas markets

The Mazda EZ-6 has been on sale in China since October with prices starting as low as 139,800 yuan, or slightly under $20,000.

Earlier this year, Mazda introduced the 6e, the global version of its electric car sold in China. The stylish electric sedan is made by Changan Mazda, Mazda’s joint venture in China.

After the first Mazda 6e model rolled off the production line at the company’s Nanjing Plant, Mazda said it’s ready to “conquer the new era of electrification with China Smart Manufacturing.”

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The new global “6e” model will be built at Changan Mazda’s plant and exported to overseas markets including Europe, Thailand, and other parts of Southeast Asia.

Mazda calls it “both a Chinese car and a global car,” with Changan’s advanced EV tech and Mazda’s signature design.

Mazda-first-EV-overseas
Mazda 6e electric sedan during European debut (Source: Changan Mazda)

Built on Changan’s hybrid platform, the EZ-6 is offered in China with both electric (EV) and extended-range (EREV) powertrains. The EV version has a CLTC driving range of up to 600 km (372 miles) and can fast charge (30% to 80%) in about 15 minutes.

Mazda’s new EV will be available with two battery options in Europe: 68.8 kWh or 80 kWh. The larger (80 kWh) battery gets up to 552 km (343 miles) WLTP range, while the 68.8 kWh version is rated with up to 479 km (300 miles) range on the WLTP rating scale.

At 4,921 mm long, 1,890 mm wide, and 1,491 mm tall, the Mazda 6e is about the size of a Tesla Model 3 (4,720 mm long, 1,922 mm wide, and 1,441 mm tall).

Mazda said the successful rollout of the 6e kicks off “the official launch of Changan Mazda’s new energy vehicle export center” for global markets.

The company will launch a new SUV next year and plans to introduce a third and fourth new energy vehicle (NEV).

Although prices will be announced closer to launch, Mazda’s global EV will not arrive with the same $20,000 price tag in Europe as it will face tariffs as an export from China. Mazda is expected to launch the 6e later this year in Europe and Southeast Asia. Check back soon for more info.

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