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Techno-Economic Related Metrics for a Wave Energy Converters Feasibility Assessment

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  • Adrian De Andres

    (Institute for Energy Systems, University of Edinburgh, West Mains Road, Edinburgh EH9 3JN, UK)

  • Jéromine Maillet

    (CorPower Ocean, Brinellvägen 23, 114 28 Stockholm, Sweden)

  • Jørgen Hals Todalshaug

    (CorPower Ocean, Brinellvägen 23, 114 28 Stockholm, Sweden)

  • Patrik Möller

    (CorPower Ocean, Brinellvägen 23, 114 28 Stockholm, Sweden)

  • David Bould

    (Institute for Energy Systems, University of Edinburgh, West Mains Road, Edinburgh EH9 3JN, UK)

  • Henry Jeffrey

    (Institute for Energy Systems, University of Edinburgh, West Mains Road, Edinburgh EH9 3JN, UK)

Abstract

When designing “multi-MW arrays” of Wave Energy Converters (WECs), having a low number of converters with high individual power ratings can be beneficial as the Operation and Maintenance (O&M) costs may be reduced. However, having converters of small dimensions or small power ratings could also be beneficial, as suggested by previous works, due to a reduction in material costs as compared to power production, and the use of small, inexpensive vessels. In this work, a case study investigating the optimum size of WEC for a 20 MW array is performed. Analysis is carried out based on the CorPower Ocean technology. In this case study, firstly a Levelized Cost of Energy (LCOE) model is created. This model incorporates the latest Capital Expenditure (CAPEX) estimates for CorPower Ocean’s 250 kW prototype. Using this techno-economic model, several sizes/ratings of WEC are tested for use in a 20 MW array. Operational Expenditure (OPEX) is calculated using two different calculation approaches in order to check its influence on final indicators. OPEX is firstly calculated as a percentage of CAPEX, as shown in previous works, and secondly using a failure-repair model, taking into account individual failures of WECs in the array. Size/rating analysis is carried out for several European locations in order to establish any dependence between site location and optimal WEC size/rating. Several metrics for techno-economic assessment of marine energy converters, other than LCOE, are compared in this work. A comparison of several devices with each these metrics is performed within this study.

Suggested Citation

  • Adrian De Andres & Jéromine Maillet & Jørgen Hals Todalshaug & Patrik Möller & David Bould & Henry Jeffrey, 2016. "Techno-Economic Related Metrics for a Wave Energy Converters Feasibility Assessment," Sustainability, MDPI, vol. 8(11), pages 1-19, October.
    • Handle: RePEc:gam:jsusta:v:8:y:2016:i:11:p:1109-:d:81689
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    References listed on IDEAS

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    Cited by:

    1. Jahanshahi, Akram & Kamali, Mohammadreza & Khalaj, Mohammadreza & Khodaparast, Zahra, 2019. "Delphi-based prioritization of economic criteria for development of wave and tidal energy technologies," Energy, Elsevier, vol. 167(C), pages 819-827.
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    3. Samuel Draycott & Iwona Szadkowska & Marta Silva & David M Ingram, 2018. "Assessing the Macro-Economic Benefit of Installing a Farm of Oscillating Water Columns in Scotland and Portugal," Energies, MDPI, vol. 11(10), pages 1-20, October.
    4. Diego Vicinanza & Mariano Buccino, 2017. "A Helicopter View of the Special Issue on Wave Energy Converters," Sustainability, MDPI, vol. 9(2), pages 1-4, February.
    5. Erfan Amini & Danial Golbaz & Fereidoun Amini & Meysam Majidi Nezhad & Mehdi Neshat & Davide Astiaso Garcia, 2020. "A Parametric Study of Wave Energy Converter Layouts in Real Wave Models," Energies, MDPI, vol. 13(22), pages 1-23, November.
    6. Mehdi Neshat & Nataliia Y. Sergiienko & Erfan Amini & Meysam Majidi Nezhad & Davide Astiaso Garcia & Bradley Alexander & Markus Wagner, 2020. "A New Bi-Level Optimisation Framework for Optimising a Multi-Mode Wave Energy Converter Design: A Case Study for the Marettimo Island, Mediterranean Sea," Energies, MDPI, vol. 13(20), pages 1-23, October.
    7. Garcia-Teruel, A. & Forehand, D.I.M., 2021. "A review of geometry optimisation of wave energy converters," Renewable and Sustainable Energy Reviews, Elsevier, vol. 139(C).
    8. Ophelie Choupin & Michael Henriksen & Amir Etemad-Shahidi & Rodger Tomlinson, 2021. "Breaking-Down and Parameterising Wave Energy Converter Costs Using the CapEx and Similitude Methods," Energies, MDPI, vol. 14(4), pages 1-27, February.
    9. Ulazia, Alain & Penalba, Markel & Ibarra-Berastegui, Gabriel & Ringwood, John & Sáenz, Jon, 2019. "Reduction of the capture width of wave energy converters due to long-term seasonal wave energy trends," Renewable and Sustainable Energy Reviews, Elsevier, vol. 113(C), pages 1-1.
    10. Yi Zhang & Dapeng Zhang & Haoyu Jiang, 2023. "A Review of Offshore Wind and Wave Installations in Some Areas with an Eye towards Generating Economic Benefits and Offering Commercial Inspiration," Sustainability, MDPI, vol. 15(10), pages 1-32, May.
    11. Wu, Jinming & Qin, Liuzhen & Chen, Ni & Qian, Chen & Zheng, Siming, 2022. "Investigation on a spring-integrated mechanical power take-off system for wave energy conversion purpose," Energy, Elsevier, vol. 245(C).
    12. Chang, Grace & Jones, Craig A. & Roberts, Jesse D. & Neary, Vincent S., 2018. "A comprehensive evaluation of factors affecting the levelized cost of wave energy conversion projects," Renewable Energy, Elsevier, vol. 127(C), pages 344-354.
    13. Garcia-Teruel, Anna & DuPont, Bryony & Forehand, David I.M., 2021. "Hull geometry optimisation of wave energy converters: On the choice of the objective functions and the optimisation formulation," Applied Energy, Elsevier, vol. 298(C).
    14. Topper, Mathew B.R. & Olson, Sterling S. & Roberts, Jesse D., 2021. "On the benefits of negative hydrodynamic interactions in small tidal energy arrays," Applied Energy, Elsevier, vol. 297(C).
    15. Chenglong Guo & Wanan Sheng & Dakshina G. De Silva & George Aggidis, 2023. "A Review of the Levelized Cost of Wave Energy Based on a Techno-Economic Model," Energies, MDPI, vol. 16(5), pages 1-30, February.
    16. Raúl Cascajo & Rafael Molina & Luís Pérez-Rojas, 2022. "Sectoral Analysis of the Fundamental Criteria for the Evaluation of the Viability of Wave Energy Generation Facilities in Ports—Application of the Delphi Methodology," Energies, MDPI, vol. 15(7), pages 1-25, April.
    17. Penalba, Markel & Ulazia, Alain & Ibarra-Berastegui, Gabriel & Ringwood, John & Sáenz, Jon, 2018. "Wave energy resource variation off the west coast of Ireland and its impact on realistic wave energy converters’ power absorption," Applied Energy, Elsevier, vol. 224(C), pages 205-219.
    18. Guo, Bingyong & Ringwood, John V., 2021. "Geometric optimisation of wave energy conversion devices: A survey," Applied Energy, Elsevier, vol. 297(C).
    19. Aksel Botne Sandberg & Eirik Klementsen & Gerrit Muller & Adrian De Andres & Jéromine Maillet, 2016. "Critical Factors Influencing Viability of Wave Energy Converters in Off-Grid Luxury Resorts and Small Utilities," Sustainability, MDPI, vol. 8(12), pages 1-22, December.

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