According to the U.S. Department of Energy, wave energy has the potential to power over 100 million US homes, but is completely underutilized at the moment. Wave energy has the advantage of higher predictability, nighttime availability, and a high energy density (~30 kW/m of coastline). Such high energy densities also enable the use of the renewable resource for desalination. The Renewable and Appropriate Energy Laboratory at UC Berkeley has partnered with CalWave Power Technologies, one of the winners of the US Wave Energy Prize, to better assess this potential. To learn more about CalWave, please visit http://calwave.org. This presentation will include preliminary results from this collaboration including appropriate siting, economic modeling, and performance characterization for wave energy technologies.