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One of the primary challenges for wave energy converter (WEC) systems is the fluctuating nature of wave resources, which require the WEC components to be designed to handle loads (i.e., torques, forces, and powers) that are many times greater than the average load. This approach requires a much greater power take-off (PTO) capacity than the average power output and indicates a higher cost for the PTO. Moreover, additional design requirements, such as battery storage, are needed, particularly for practical electrical grid connection, and can be a problem for sensitive equipment (e.g., radar, computing devices, and sensors). Therefore, it is essential to investigate potential methodologies to reduce the overall power fluctuation while trying to optimize the power output from WECs. In this study, a detailed hydraulic PTO model was developed and coupled with a time-domain hydrodynamics model (WEC-Sim) to evaluate the PTO efficiency for WECs and the trade-off between power output and fluctuation using different power smoothing methods, including energy storage, pressure relief mechanism, and a power-based setpoint control method. The study also revealed that the maximum power fluctuation for WECs can be significantly reduced by one order of magnitude when these power smoothing methods are applied.

This report is an addendum to SAND2013-9040: Methodology for Design and Economic Analysis of Marine Energy Conversion (MEC) Technologies. This report describes an oscillating surge wave energy converter (OSWEC) reference model design and complements Reference Models 1-4 in the above report.A conceptual design for a taut, moored OSWEC was developed. The design had an annual electrical power of 108 kilowatts (kW), rated power of 360 kW, and intended deployment at water depths between 50 m and 100 m. The study includes structural analysis, power output estimation, a hydraulic power conversion chain system, and mooring designs. The results were used to estimate device capital cost and annual operation and maintenance costs. The device performance and costs were used for the economic analysis, following the methodology presented in SAND2013-9040 that included costs for designing, manufacturing, deploying, and operating commercial-scale MEC arrays up to 100 devices. The levelized cost of energy estimated for the Reference Model 5 OSWEC, presented in this report, was for a single device and arrays of 10, 50, and 100 units, and it enabled the economic analysis to account for cost reductions associated with economies of scale. The baseline commercial levelized cost of energy estimate for the Reference Model 5 device in an array comprised of 10 units is $1.44/kilowatthour (kWh), and the value drops to approximately $0.69/kWh for an array of 100 units. v This report is available at no cost from the National Renewable Energy Laboratory (NREL) at www.nrel.gov/publications.

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