IDEAS home Printed from https://ideas.repec.org/a/eee/energy/v91y2015icp192-201.html

LCOE (levelised cost of energy) mapping: A new geospatial tool for tidal stream energy

Author

Listed:
  • Vazquez, A.
  • Iglesias, G.

Abstract

Tidal stream energy projects are not likely to materialise unless they are proven to be economic. In this work, we present a new geospatial tool to determine the optimum sites for tidal stream energy exploitation based on this fundamental requirement of economic feasibility, and more specifically, on the LCOE (levelised cost of energy): LCOE mapping. The methodology combines numerical model results of the resource with economic assessments in a Matlab-based tool designed ad hoc. Thus, not only the spatial variability of the resource but also its all-important temporal variability is considered. In particular, the energy density is obtained by means of numerical integration of the power density throughout a tidal cycle. The new tool allows for considering the diameter and power curve of the specific turbines, too. As a case study, the method is applied to the Bristol Channel and Severn Estuary (UK), one of the most promising areas for tidal stream exploitation in the UK. Additionally, a sensitivity analysis is performed and thus, cost trends are analysed. In summary, the LCOE map constitutes a new tool to assess tidal stream sites in an area of interest based on a fundamental economic parameter of an energy project: the LCOE.

Suggested Citation

  • Vazquez, A. & Iglesias, G., 2015. "LCOE (levelised cost of energy) mapping: A new geospatial tool for tidal stream energy," Energy, Elsevier, vol. 91(C), pages 192-201.
    • Handle: RePEc:eee:energy:v:91:y:2015:i:c:p:192-201
    DOI: 10.1016/j.energy.2015.08.012
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0360544215010828
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.energy.2015.08.012?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    References listed on IDEAS

    as
    1. Lim, Xin-Le & Lam, Wei-Haur & Hashim, Roslan, 2015. "Feasibility of marine renewable energy to the Feed-in Tariff system in Malaysia," Renewable and Sustainable Energy Reviews, Elsevier, vol. 49(C), pages 708-719.
    2. Vicinanza, D. & Contestabile, P. & Ferrante, V., 2013. "Wave energy potential in the north-west of Sardinia (Italy)," Renewable Energy, Elsevier, vol. 50(C), pages 506-521.
    3. Allan, Grant & Gilmartin, Michelle & McGregor, Peter & Swales, Kim, 2011. "Levelised costs of Wave and Tidal energy in the UK: Cost competitiveness and the importance of "banded" Renewables Obligation Certificates," Energy Policy, Elsevier, vol. 39(1), pages 23-39, January.
    4. Adcock, Thomas A.A. & Draper, Scott, 2014. "Power extraction from tidal channels – Multiple tidal constituents, compound tides and overtides," Renewable Energy, Elsevier, vol. 63(C), pages 797-806.
    5. Ahmadian, Reza & Falconer, Roger A., 2012. "Assessment of array shape of tidal stream turbines on hydro-environmental impacts and power output," Renewable Energy, Elsevier, vol. 44(C), pages 318-327.
    6. Iglesias, G. & Sánchez, M. & Carballo, R. & Fernández, H., 2012. "The TSE index – A new tool for selecting tidal stream sites in depth-limited regions," Renewable Energy, Elsevier, vol. 48(C), pages 350-357.
    7. Robins, Peter E. & Neill, Simon P. & Lewis, Matt J. & Ward, Sophie L., 2015. "Characterising the spatial and temporal variability of the tidal-stream energy resource over the northwest European shelf seas," Applied Energy, Elsevier, vol. 147(C), pages 510-522.
    8. Sanchez, M. & Carballo, R. & Ramos, V. & Iglesias, G., 2014. "Floating vs. bottom-fixed turbines for tidal stream energy: A comparative impact assessment," Energy, Elsevier, vol. 72(C), pages 691-701.
    9. Ramos, V. & Carballo, R. & Álvarez, M. & Sánchez, M. & Iglesias, G., 2014. "A port towards energy self-sufficiency using tidal stream power," Energy, Elsevier, vol. 71(C), pages 432-444.
    10. Ouyang, Xiaoling & Lin, Boqiang, 2014. "Levelized cost of electricity (LCOE) of renewable energies and required subsidies in China," Energy Policy, Elsevier, vol. 70(C), pages 64-73.
    11. Fallon, D. & Hartnett, M. & Olbert, A. & Nash, S., 2014. "The effects of array configuration on the hydro-environmental impacts of tidal turbines," Renewable Energy, Elsevier, vol. 64(C), pages 10-25.
    12. Astariz, S. & Iglesias, G., 2015. "The economics of wave energy: A review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 45(C), pages 397-408.
    13. Dalton, Gordon & Allan, Grant & Beaumont, Nicola & Georgakaki, Aliki & Hacking, Nick & Hooper, Tara & Kerr, Sandy & O’Hagan, Anne Marie & Reilly, Kieran & Ricci, Pierpaolo & Sheng, Wanan & Stallard, T, 2015. "Economic and socio-economic assessment methods for ocean renewable energy: Public and private perspectives," Renewable and Sustainable Energy Reviews, Elsevier, vol. 45(C), pages 850-878.
    14. Johnstone, C.M. & Pratt, D. & Clarke, J.A. & Grant, A.D., 2013. "A techno-economic analysis of tidal energy technology," Renewable Energy, Elsevier, vol. 49(C), pages 101-106.
    15. Neill, Simon P. & Jordan, James R. & Couch, Scott J., 2012. "Impact of tidal energy converter (TEC) arrays on the dynamics of headland sand banks," Renewable Energy, Elsevier, vol. 37(1), pages 387-397.
    16. Carballo, R. & Iglesias, G. & Castro, A., 2009. "Numerical model evaluation of tidal stream energy resources in the Ría de Muros (NW Spain)," Renewable Energy, Elsevier, vol. 34(6), pages 1517-1524.
    17. Evans, P. & Mason-Jones, A. & Wilson, C. & Wooldridge, C. & O'Doherty, T. & O'Doherty, D., 2015. "Constraints on extractable power from energetic tidal straits," Renewable Energy, Elsevier, vol. 81(C), pages 707-722.
    18. Li, Ye, 2014. "On the definition of the power coefficient of tidal current turbines and efficiency of tidal current turbine farms," Renewable Energy, Elsevier, vol. 68(C), pages 868-875.
    19. Sánchez, M. & Carballo, R. & Ramos, V. & Iglesias, G., 2014. "Energy production from tidal currents in an estuary: A comparative study of floating and bottom-fixed turbines," Energy, Elsevier, vol. 77(C), pages 802-811.
    20. Denny, Eleanor, 2009. "The economics of tidal energy," Energy Policy, Elsevier, vol. 37(5), pages 1914-1924, May.
    21. Roc, Thomas & Conley, Daniel C. & Greaves, Deborah, 2013. "Methodology for tidal turbine representation in ocean circulation model," Renewable Energy, Elsevier, vol. 51(C), pages 448-464.
    22. Lewis, M. & Neill, S.P. & Robins, P.E. & Hashemi, M.R., 2015. "Resource assessment for future generations of tidal-stream energy arrays," Energy, Elsevier, vol. 83(C), pages 403-415.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Vazquez, A. & Iglesias, G., 2016. "Capital costs in tidal stream energy projects – A spatial approach," Energy, Elsevier, vol. 107(C), pages 215-226.
    2. Vazquez, A. & Iglesias, G., 2016. "Grid parity in tidal stream energy projects: An assessment of financial, technological and economic LCOE input parameters," Technological Forecasting and Social Change, Elsevier, vol. 104(C), pages 89-101.
    3. Álvarez, M. & Ramos, V. & Carballo, R. & Arean, N. & Torres, M. & Iglesias, G., 2020. "The influence of dredging for locating a tidal stream energy farm," Renewable Energy, Elsevier, vol. 146(C), pages 242-253.
    4. Marta-Almeida, Martinho & Cirano, Mauro & Guedes Soares, Carlos & Lessa, Guilherme C., 2017. "A numerical tidal stream energy assessment study for Baía de Todos os Santos, Brazil," Renewable Energy, Elsevier, vol. 107(C), pages 271-287.
    5. Khojasteh, Danial & Lewis, Matthew & Tavakoli, Sasan & Farzadkhoo, Maryam & Felder, Stefan & Iglesias, Gregorio & Glamore, William, 2022. "Sea level rise will change estuarine tidal energy: A review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 156(C).
    6. Segura, E. & Morales, R. & Somolinos, J.A., 2018. "A strategic analysis of tidal current energy conversion systems in the European Union," Applied Energy, Elsevier, vol. 212(C), pages 527-551.
    7. Fouz, D.M. & Carballo, R. & López, I. & Iglesias, G., 2022. "A holistic methodology for hydrokinetic energy site selection," Applied Energy, Elsevier, vol. 317(C).
    8. Sánchez, M. & Carballo, R. & Ramos, V. & Iglesias, G., 2014. "Energy production from tidal currents in an estuary: A comparative study of floating and bottom-fixed turbines," Energy, Elsevier, vol. 77(C), pages 802-811.
    9. Zoe Goss & Daniel Coles & Matthew Piggott, 2021. "Economic analysis of tidal stream turbine arrays: a review," Papers 2105.04718, arXiv.org.
    10. Fouz, D.M. & Carballo, R. & López, I. & González, X.P. & Iglesias, G., 2023. "A methodology for cost-effective analysis of hydrokinetic energy projects," Energy, Elsevier, vol. 282(C).
    11. Zeyringer, Marianne & Fais, Birgit & Keppo, Ilkka & Price, James, 2018. "The potential of marine energy technologies in the UK – Evaluation from a systems perspective," Renewable Energy, Elsevier, vol. 115(C), pages 1281-1293.
    12. Guillou, Nicolas & Thiébot, Jérôme, 2016. "The impact of seabed rock roughness on tidal stream power extraction," Energy, Elsevier, vol. 112(C), pages 762-773.
    13. Mestres, Marc & Cerralbo, Pablo & Grifoll, Manel & Sierra, Joan Pau & Espino, Manuel, 2019. "Modelling assessment of the tidal stream resource in the Ria of Ferrol (NW Spain) using a year-long simulation," Renewable Energy, Elsevier, vol. 131(C), pages 811-817.
    14. Evans, P. & Mason-Jones, A. & Wilson, C. & Wooldridge, C. & O'Doherty, T. & O'Doherty, D., 2015. "Constraints on extractable power from energetic tidal straits," Renewable Energy, Elsevier, vol. 81(C), pages 707-722.
    15. Khojasteh, Danial & Chen, Shengyang & Felder, Stefan & Glamore, William & Hashemi, M. Reza & Iglesias, Gregorio, 2022. "Sea level rise changes estuarine tidal stream energy," Energy, Elsevier, vol. 239(PE).
    16. Takvor H. Soukissian & Dimitra Denaxa & Flora Karathanasi & Aristides Prospathopoulos & Konstantinos Sarantakos & Athanasia Iona & Konstantinos Georgantas & Spyridon Mavrakos, 2017. "Marine Renewable Energy in the Mediterranean Sea: Status and Perspectives," Energies, MDPI, vol. 10(10), pages 1-56, September.
    17. Lilia Flores Mateos & Michael Hartnett, 2020. "Hydrodynamic Effects of Tidal-Stream Power Extraction for Varying Turbine Operating Conditions," Energies, MDPI, vol. 13(12), pages 1-23, June.
    18. Carballo, R. & Fouz, D.M. & López, I. & Iglesias, G., 2024. "Hydrokinetic energy site selection under high seasonality: The i-IHE index," Renewable Energy, Elsevier, vol. 237(PC).
    19. Mestres, Marc & Griñó, Maria & Sierra, Joan Pau & Mösso, César, 2016. "Analysis of the optimal deployment location for tidal energy converters in the mesotidal Ria de Vigo (NW Spain)," Energy, Elsevier, vol. 115(P1), pages 1179-1187.
    20. Ian Masters & Alison Williams & T. Nick Croft & Michael Togneri & Matt Edmunds & Enayatollah Zangiabadi & Iain Fairley & Harshinie Karunarathna, 2015. "A Comparison of Numerical Modelling Techniques for Tidal Stream Turbine Analysis," Energies, MDPI, vol. 8(8), pages 1-21, July.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:energy:v:91:y:2015:i:c:p:192-201. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.journals.elsevier.com/energy .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.