TY - GEN
T1 - Methodology for evaluating the economic pay-off of a more powerful wave energy resource
AU - Roberts, O.
AU - Jeffrey, H.
AU - Ruiz-Minguela, P.
N1 - Publisher Copyright:
© 2019 Taylor & Francis Group, London.
PY - 2019
Y1 - 2019
N2 - This study demonstrates a methodology for investigating the influence of Power Level (PL) on economic returns even when the exact characteristics of the chosen location are unknown. By linearising the relationship between site PL and the distribution of wave height and wave period, the influence on productivity and cost can be determined. An economic model is used to estimate Wave Energy Converter (WEC) performance and calculate the cost of four cost centres: the structure, mooring, power take-off and cabling, based on the PL. The results show that the rate of decrease in LCOE decreases with increasing PL, but that this trend is location specific. In certain cases, beyond 55 kW/m there is no improvement in the LCOE. This shows that careful, site-specific consideration needs to be given to selecting a more powerful energy resource for (WEC) deployment.
AB - This study demonstrates a methodology for investigating the influence of Power Level (PL) on economic returns even when the exact characteristics of the chosen location are unknown. By linearising the relationship between site PL and the distribution of wave height and wave period, the influence on productivity and cost can be determined. An economic model is used to estimate Wave Energy Converter (WEC) performance and calculate the cost of four cost centres: the structure, mooring, power take-off and cabling, based on the PL. The results show that the rate of decrease in LCOE decreases with increasing PL, but that this trend is location specific. In certain cases, beyond 55 kW/m there is no improvement in the LCOE. This shows that careful, site-specific consideration needs to be given to selecting a more powerful energy resource for (WEC) deployment.
UR - http://www.scopus.com/inward/record.url?scp=85067171131&partnerID=8YFLogxK
M3 - Conference contribution
AN - SCOPUS:85067171131
SN - 9781138585355
T3 - Advances in Renewable Energies Offshore - Proceedings of the 3rd International Conference on Renewable Energies Offshore, RENEW 2018
SP - 95
EP - 103
BT - Advances in Renewable Energies Offshore - Proceedings of the 3rd International Conference on Renewable Energies Offshore, RENEW 2018
A2 - Soares, C. Guedes
PB - CRC Press/Balkema
T2 - 3rd International Conference on Renewable Energies Offshore, RENEW 2018
Y2 - 8 October 2018 through 10 October 2018
ER -
