Development of ocean wave energy requires general knowledge of the wave climate as well as reliable estimates of the available power. A WAVEWATCH III hindcast study with surface winds from the Final Global Tropospheric Analysis (FNL) provides 10 years of spectral wave data for a thorough examination of the wave resource around the world. The fully assimilated FNL data provides accurate wind input for more reliable predictions of the wave conditions than the operational forecasts. The computed wave parameters show good correlation with Jason-1 altimetry and buoy measurements. The monthly median plots describe the seasonal variation of the global wave climate and the percentile plots indicate the persistence and severity of the wave conditions. Separate estimates of the power from the wind waves and primary swell provide a precise description of the resource in support of design and planning of wave energy converters.