H.R. 7129 reauthorizes and expands federal research programs focused on water-based renewable energy, specifically hydropower and marine energy technologies. The bill updates existing research priorities to include new areas such as cybersecurity for hydropower systems, advanced manufacturing of marine energy components, hydrogen fuel production, and systems designed for extreme cold-water conditions. It also strengthens workforce development by requiring partnerships with universities, tribal colleges, maritime academies, and regional workforce hubs to train the next generation of water power professionals. The bill significantly increases funding from $186.6 million annually (2021-2025) to $300 million per year for fiscal years 2026 through 2030, with $200 million dedicated to marine energy and $100 million to hydropower research and development. Additionally, it mandates biennial briefings to Congress on research findings and progress toward the program's strategic goals.