In the current context of environmental degradation and depletion of fossil fuels, marine energy has emerged as an alternative to traditional energy resources. However, being in an initial step of development, extracting energy from the ocean is often regarded as difficult and uneconomical. The existing models for assessing marine energy costs are often oversimplified, leading to uncertainties that may hold investors back and slow down the market penetration of this renewable. Therefore, an accurate prediction of marine energy costs is fundamental to drawing conclusions about its competitiveness. Among the different possibilities of marine energy, this paper focuses on the economic analysis of tidal, wave, and offshore wind energy. The individual costs involved in the construction of these offshore energy parks and operation and maintenance tasks during their lifetime are determined. With this information, the levelized cost (€/MW h) is calculated for offshore wind, wave and tidal energy (€165/MW h, €225/MW h and €190/MW h, respectively). It is found that these renewables have a higher energy cost than traditional energy sources; however, considering factors such as the learning rate or externalities enhances their competitiveness. In the second part of this paper, combined energy systems, such as hybrid converters, are presented as a future solution to boost the development of marine energies. The synergies between these renewables are outlined, as well as the cost savings that can be achieved through diversified energy systems.
Tidal stream energy projects involve high amounts of capital, for which ex-ante economic assessments are crucial. Unfortunately, the existing models to estimate the capital costs of a tidal stream energy project are often oversimplified. Focused on single estimates on a per installed power basis, such models fail to capture the all-important sensitivity of the capital costs to project site-specific characteristics (water depth, distance to the shoreline, etc.) The objective of this work is twofold: (1) to develop a new formulation for estimating the capital costs of a tidal stream farm, and (2) to implement this formula in a Matlab-based tool coupled with a Navier-Stokes solver and thus deliver the spatial distribution of this cost. As a case study, the new tool is applied to the Bristol Channelthe single largest resource area for tidal energy in the UK. Here, the best areas to install tidal stream farms are identified, with a cost comparable to that of offshore wind energy. Simulation results show that the proposed method is more efficient than the existing approaches. The results of this work have relevant policy implications in that they serve as decision criteria for allocating tidal stream projects and for designating supporting mechanisms.
Marine renewable energy (MRE), which includes wave, tidal, and offshore wind energy, has the potential to make significant contributions towards a sustainable energy future in a number of countries worldwide. One such country is Spain, where MREs are among the largest renewable resources; yet they are not playing their full part in the national energy mix. Among other constraints, the lack of a specific policy framework promoting this emerging sector is often pointed to as the main barrier for MRE grid penetration. This paper assesses the Spanish MRE sector, in terms of resource availability, government plans, policy regulations, and projects undertaken, with a view to establish a comparison with the situation in other European countries. In particular, the United Kingdom is used as a case study to analyze ongoing research activities, pilot projects, and lessons learned. As a result, it is found that public funding needs to be increased; the economic crisis should be seen as an opportunity for job creation and industrial development rather than a barrier; administrative procedures must be simplified and cross-national cooperation should be increased. Policies focused on these aspects may contribute to boost the MRE sector in Spain. V
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.
hi@scite.ai
10624 S. Eastern Ave., Ste. A-614
Henderson, NV 89052, USA
Copyright © 2024 scite LLC. All rights reserved.
Made with 💙 for researchers
Part of the Research Solutions Family.