This report considers and prioritizes the primary potential technical cost‐reduction pathways for offshore wave activated body attenuators designed for ocean resources. This report focuses on technical research and development cost‐ reduction pathways related to the device technology rather than environmental monitoring or permitting opportunities. Three sources of information were used to understand current cost drivers and develop a prioritized list of potential cost‐reduction pathways: a literature review of technical work related to attenuators, a reference device compiled from literature sources, and a webinar with each of three industry device developers. Data from these information sources were aggregated and prioritized with respect to the potential impact on the lifetime levelized cost of energy, the potential for progress, the potential for success, and the confidence in success. Results indicate the five most promising cost‐reduction pathways include advanced controls, an optimized structural design, improved power conversion, planned maintenance scheduling, and an optimized device profile.