State of the art methods
Existing wave power devices are categorized by the method used to capture the energy of the waves, by the intended location, and by the power take-off. Method types are wave power point absorber, occupying a small area; wave power attenuator, occupying a line parallel to wave propagation; and wave power terminator, occupying a line perpendicular to wave propagation. Locations are shoreline, offshore, and deep water. Types of power take-off include these: hydraulic ram, elastomeric hose pump, pump-to-shore, hydroelectric turbine, air turbine, and linear electrical generator.
Systems include oscillating water column, articulated pontoon, wave pump, anchored buoy, fixed buoy, and overtopping reservoir. Several of these designs incorporate parabolic reflectors as a means of increasing the wave energy at the point of capture.
These are descriptions of some wave power systems:
* A pontoon lying in the water is driven by wave action to push or pull a generator. (See Pelamis Wave Energy Converter.)
* Wave action compresses air in a tunnel which drives the vanes of a generator.
* A device called CETO, currently being tested off Fremantle, Western Australia, has a seafloor pressure transducer coupled to a high-pressure hydraulic pump, which pumps water to shore for driving hydraulic generators or running reverse osmosis desalination.
* Waves overtop the side of a reservoir, and the water in the reservoir runs hydroelectric generators. (See Wave Dragon wave energy converter)
Source and further reading - wikipedia