Power generation using dielectric elastomer (DE) artificial muscle is attracting attention because of its light weight, low cost, and high-efficiency. Since this method is a system that produces electricity without emitting carbon dioxide nor using rare earths, it would contribute to the goal of environmental sustainability. In this paper, the background of DEs, the associated high efficiency wave energy generation (WEG) systems that we developed using DEs, as well as the latest development of its material are summarized. By covering both the challenges and achievements, this paper discusses the opportunities to build the foundation of an energy recycling society through the usage of these WEGs. To make these possibilities commercially successful, the advantages of DEs need to be integrated with traditional technologies. To achieve this, the method of using DEs alone and a system used in combination with an oscillating water column were also considered. Finally, the current status and future of DE generators (DEGs) are discussed.