Carbon neutrality and the Internet of Underwater Things have injected new impetus into the development of wave energy converters (WECs) albeit most of WEC projects have ended in failure due to low cost-effectiveness. Hereupon we present the dynamical modeling and parametric analysis of a novel electret-based WEC that has a distinct power take-off system compared to the conventional ones and has exhibited high power density in our previous study. Linear wave theory and Morison equation are applied for wave field and forces, respectively. WEC motions parallel with incident waves are modeled, and the electrical subsystem of the generator is treated as a current source and a capacitor. With these simplifications, the governing equations of the nonlinear and non-smooth electromechanical system are obtained and then numerically solved using an event-driven algorithm. The new power take-off system is experimentally validated. We find that the power output varies nonlinearly with wave parameters under regular wave excitation but linearly under irregular ones, and that superharmonic resonance can significantly enhance energy conversion performance at relatively low frequencies, based on which the optimum parameters are obtained. A peak average power of around 2 mW (at a matched load resistance) is generated from each generator encapsulated in the WEC of a diameter of 15 cm. The findings shed light on the characteristics of electret-based WECs and provide support for the development of wave energy farm; moreover, the methodologies of modeling and analysis can be extended to the design and optimization of the scaleups of the proposed electret-based WEC.