An overview of the most important development stages of floating point absorber wave energy converters is presented. At a given location, the wave energy resource has to be first assessed for varying seasons. The mechanisms used to convert wave energy to usable energy vary for different wave energy conversion systems. The power output of the generator will have variations due to varying incident waves. The wave structure-interaction leads to modifications in the incident waves; thus, the power output is also affected. The device has to be stable enough to prevent itself from capsizing. The point absorber will give optimum performance when the incident wave frequencies correspond to the natural frequency of the device. The methods for calculating natural frequencies for pitching and heaving systems are presented. Mooring systems maintain the point absorber at the desired location. Various mooring configurations as well as the most commonly used materials for mooring lines are discussed. An overview of scaled modelling is also presented.