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I am having the exact same issue. 2014 24SD with 300 Penta V8. The up/down functions fine on the boat lift out of the water but blows the 10a fuse once the boat is in the water. I am annoyed but suspect one of the circuits in the throttle lever is pinched & shorted. Did you ever figure this out?

Yes but not really sure what the exact answer is. My mechanic spent a day trying to find the short but never found it. After all the probing it started working. He figures there must have been a short that got corrected form the probing. I still keep a bag of 10a fuese in the glovebox just in case.

This is the only place I can find any info regarding cobalt fuse replacement for trim module.
I have a 2004 Cobalt 200 Bowrider.

I had taken the throttle/shift control off to play with the amount of throw the throttle had compared to speed when forward. In doing so, I thought I had replaced the wires in a safe location, but ended up tightening the arm down and snipping the green trim control (up) wire. I tried to make a fix on the water but I could not find where the short would have blown the fuse.

Where is the fuse I would need to replace for this to work again, I was concerned when pulling the boat out at the launch since my prop was 3 inches off the pavement. Scared to drive home but made it successfully. Do need to remedy this to park it in my driveway... Im sure Im overlooking where it is, I see up on top someone mentioned it being on the engine block? Is there no fuse under the controls near steering wheel?

Can definitely be frustrating. First, the fuse box should be on the engine. That is where mine was. It was a 10amp fuse. Additional, you can take out the cotter pins and bolts and tie the motor up so you can trailer safely. You will need two people and good rope to tie it up. Hope this helps.

Thanks so much for the response @bobo87, I do see the fuse box.
All that is included in the engine fuse box though is :
Dash accessory
Dash accessory
Ignition relay
engine control module
Spare accessory fused 20 amp
Spare accessory fused 15 amp
Fuel pumps

There is no fuse in here that appears to be burnt out at all (I pulled them all, except the relay looking ones), plus I am not seeing anything to do with Trim on the cover. I was able to fish the trim wiring under the arm rest and it plugs into a harness connecting the 3 wires to another set of wires encased in a black protective covering.
Still at a loss to where I should be looking for this missing link.
The relays on the hydraulic pump in back do not click at all when powering boat and hitting trim control. Theres maybe an inline fuse or dash fuse somewhere...?

Found it.
Thanks for some help.
It was a 10 amp fuse in back of the volvo hydraulic motor, right on the backside of the relays.
Replaced 10 amp fuse and its good to go!
Cheers, happy boating

Glad that was all it was. Happy Boating.