Clean power developer Carnegie Corporation says more than a third of Australia's base-load power needs could be economically generated by wave technology.
A report commissioned by the company says Australia has a potential wave energy resource four times the size of our total installed power generation capacity.
Carnegie says the report supports its view that Australia has the world's best wave energy resource.
Managing director Michael Ottaviano says machines anchored to the sea floor that move with the motion of passing waves and can be used to pump seawater ashore where it can drive hydroelectric turbines to generate electricity.
Mr Ottaviano says around 35 per cent of Australia's current power needs could be met by harnessing wave energy.