NOVELTY - The device (100) has magnetostrictive elements (106) deployed in a body of water, where motion of the body of water that comprises wave motion causes changes in strain of the magnetostrictive elements. Polymer coated electrically conductive coils/circuits are provided in vicinity of the magnetostrictive elements. The magnetostrictive elements generate electric voltage/current in the electrically conductive coils/circuits when magnetic flux density changes, where no relative motion is provided between the magnetostrictive elements and the conductive coils/circuits.    USE - On-shore/off-shore energy harvesting device for producing electricity from oscillations of ocean waves.    ADVANTAGE - The device utilizes magnetostrictive materials that functions as actuators and sensors, and has better mechanical durability and lower production cost, thus achieving low energy costs and high energy densities in production of the electricity. The electrically conductive coils/circuits are covered with polymer such as PTFE, that provides electrical insulation for highest rated voltage in the coils, and has low capital cost, thus reducing replacement costs during catastrophic failure/damage due to major storms. The device eliminates need for moving parts and joints that require lubrication, thus avoiding leakage of the lubrication to prevent oceans from pollution, and hence providing an exceptionally clean and environmentally friendly device. The device generates the electricity from ocean waves without consuming any carbonaceous fuels or generating any harmful pollutants, thus reducing green house gases and pollutants without any undesirable side-effects/compromises and eliminating natural migration patterns without affecting sea-life, and hence achieving a marine life friendly device for energy production.    DETAILED DESCRIPTION - The magnetostrictive elements are made of iron-gallium, iron-molybdenum and iron-tungsten alloys. An INDEPENDENT CLAIM is also included for a method for generating electricity.    DESCRIPTION OF DRAWING(S) - The drawing shows a schematic block diagram of an energy harvesting device.    On-shore/off-shore energy harvesting device (100)    Magnetostrictive elements (106)    Tether controller (140)    Pulleys (142)    Sensors (144)    Batteries (146)    Power management system (148)