A New Classification of Wave Energy Converters Used for Selection of Devices

Esteban, M. Dolores; Gutiérrez, José Santos López; Negro, Vicente; Laviña, M.; Muñoz-Sánchez, Pedro

doi:10.2112/si85-258.1

Cited by 9 publications

(5 citation statements)

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“…The results of surge and OWC seem to follow the same trend. If deployment levels of more than 2 gigawatts (GW) are achieved, the projected LCOE for wave energy in 2030 is estimated to be between EUR 113/MWh and 226/MWh [123]. With the layout optimization of wave energy parks, the LCOE will reduce (by about 80%) from 1 to 10 WECs.…”

Section: Levelized Cost Of Wave Energymentioning

confidence: 99%

A Review of the Levelized Cost of Wave Energy Based on a Techno-Economic Model

et al. 2023

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Wave energy provides a renewable and clear power for the future energy mix and fights against climate change. Currently, there are many different wave energy converters, but their costs of extracting wave energy are still much higher than other matured renewables. One of the best indicators of calculating the generating cost of wave energy is the ‘levelized cost of energy’ (LCOE), which is the combined capital expenditure (CAPEX), operational expenditure (OPEX), and decommissioning cost with the inclusion of the annual energy production, discount factor, and project’s lifespan. However, the results of the LCOE are in disagreement. Hence, it is important to explore the cost breakdown of wave energy by the wave energy converter (WEC), so for finding potential ways to decrease the cost, and finally compare it with other renewable energies. Different WECs have been installed in the same place; the Wave Dragon LCOE platform is the best one, with an energy conversion of EUR 316.90/MWh, followed by Pelamis with EUR 735.94/MWh and AquaBuOY with EUR 2967.85/MWh. Even when using different locations to test, the rank of the LCOE would remain unchanged with the different value. As the CAPEX and OPEX dramatically drop, the availability and capacity factors slowly increase, and the LCOE decreases from a maximum of USD 470/MWh to a minimum of USD 120/MWh. When the discount rate is down from 11% to 6%, the LCOE reduces from USD 160/MWh to USD 102/MWh. Under the ideal condition of the optimal combination of multiple factors, in theory, the LCOE can be less than USD 0.3/KWh. To better explore the LCOE for WECs, the detailed cost elements found in the CAPEX and OPEX have been examined for the scenarios of the undiscounted, half-discounted, and discounted cost models. When the AEP is discounted, the lowest LCOE is equal to USD 1.171/kWh in scene 2 when using a five-step investment, which is below the LCOE value of USD 1.211/kWh in scene 1 when using a two-step investment. Meanwhile, the highest LCOE amounts to USD 2.416/kWh using the five-step investment, whose value is below the LCOE of a two-step investment. When using a one-step investment in scene 3, the lowest LCOE is equal to USD 0.296/kWh, which accounts for 25% of the lowest value in the five-step investment. Meanwhile, the highest LCOE amounts to USD 0.616/kWh, which accounts for 24% of the highest value in the two-step investment. The results of the case study show that a one-step investment program in the half-discounted model is superior to the multi-step investment in the discounted model. This paper examines the viability of wave energy technologies, which is a critical factor for the LCOE of wave energy; furthermore, the form of investment in the wave energy project is also important when calculating the LCOE.

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Section: Levelized Cost Of Wave Energymentioning

confidence: 99%

A Review of the Levelized Cost of Wave Energy Based on a Techno-Economic Model

et al. 2023

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“…Characteristics of wave energy converters must be considered: minimum and maximum depth of the site, way of energy extraction, matrix power, etc. With all those data, the wave energy production (kWh/year) can be calculated [38].…”

Section: Offshore Wind Energymentioning

confidence: 99%

“…Figure 2 shows the wave power distribution in the world. It is not homogeneous, with some areas characterized by more than 100 kW/m, and some of them below 10 kW/m [38]. Figure 2 is based on Mork et al [40].…”

Section: Offshore Wind Energymentioning

confidence: 99%

What about Marine Renewable Energies in Spain?

Esteban

Espada

Ortega

et al. 2019

JMSE

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Renewable energies play a fundamental role within the current political and social framework for minimizing the impacts of climate change. The ocean has a vast potential for generating energy and therefore, the marine renewable energies are included in the Sustainable Development Goals (SDGs). These energies include wave, tidal, marine currents, ocean thermal, and osmotic. Moreover, it can also be included wind, solar, geothermal and biomass powers, which their main use is onshore, but in the near future their use at sea may be considered. The manuscript starts with a state-of-the-art review of the abovementioned marine renewable energy resources worldwide. The paper continues with a case study focused on the Spanish coast, divided into six regions: (I) Cantabrian, (II) Galician, (III) South Atlantic, (IV) Canary Islands, (V) Southern Mediterranean, and (VI) Northern Mediterranean. The results show that: (1) areas I and II are suitable for offshore wind, wave and biomass; (2) areas III and V are suitable for offshore wind, marine current and offshore solar; area IV is suitable for offshore wind, ocean wave and offshore solar; (3) and area VI is suitable for offshore wind, osmotic and offshore solar. This analysis can help politicians and technicians to plan the use of these resources in Spain. the short and medium term, the high capital cost in the first project of each technology, the lack of experience and environmental aspects, etc. These barriers are smaller or larger depending on each of the oceanic technologies and its current development stage.In recent years, this industry has seen encouraging signs, with some of the technologies showing significant progress. This is the case for offshore wind and tidal energy, which can be considered mature enough to be ready for their commercial development. Regardless, other technologies follow a slower learning curve. Based on this, the forecasts in the short, medium, and long term are not ambitious at all [2]. With the objective of promoting the sector, various initiatives have emerged to take advantage of its energetic potential. One of them is the Implementation Agreement of Oceanic Energy Systems (IEA-OES), which aims to have installed 337 GW of capacity worldwide in 2050, objective difficult to be achieved with current figures.Another key aspect in the development of this type of project is the Levelized Cost of Electricity (LCOE) [3]. LCOE value is very high in the case of prototype projects, having a lot of room for improvement. It is important to take into account that the energy generated must have a competitive cost [4]. On the other hand, the use of green energy has other benefits. In fact, governments must support this type of project with some incentives to help the companies involved, above all in the early stages of the development of those technologies. On the other hand, a better perception of the citizens about marine renewable energy is essential, because nowadays there is a great ignorance of the possibilities of the ocean to offer clean and endles...

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“…To study the hydraulic-energetic behavior, the first step is to select the types of wave energy converters that best suit the needs of the project. Given the high interest of harnessing wave energy, there are more than a hundred patents for wave energy converters [15]. However, only 20 of these devices have become prototypes in scale since, in general, the necessary maturity level had not been reached until recently.…”

Section: Hydraulic and Energetic Behaviormentioning

confidence: 99%

Feasibility Study of the Installation of Wave Energy Converters in Existing Breakwaters in the North of Spain

et al. 2019

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In a context of growing global awareness of environmental sustainability, given the risks associated with global warming and climate change, the transition from environmental models to highly intensive fossil fuel production towards new clean energy systems marks the future of global public agendas. In this scenario, a feasibility study of the installation of wave energy converters, such as the Sea Slot-Cone Generator (SSG) and the Oscillating Water Column (OWC), was carried out in existing breakwaters in the North of Spain, choosing Punta Langosteira (Outer Port of A Coruña), Dique Torres and Dique Norte (Port el Musel, Gijón) and Punta Lucero (Port of Bilbao). It was aimed at capturing the great energy potential of the Atlantic Ocean, as an innovative solution linked to the development of renewable energy sources of marine origin. The selection of the most optimal and efficient alternative will depend on different aspects: the quantitative availability of the wave energy resource at the study points, the production of energy obtained by the device and the capacity factor, the capacity of the wave energy facility to supply the energy consumption in every port to boost the image of "Green Port", the constructive viability so that the condition of having the construction works only during one year and an economic estimation of each alternative.

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A New Classification of Wave Energy Converters Used for Selection of Devices

Cited by 9 publications

References 0 publications

A Review of the Levelized Cost of Wave Energy Based on a Techno-Economic Model

A Review of the Levelized Cost of Wave Energy Based on a Techno-Economic Model

What about Marine Renewable Energies in Spain?

Feasibility Study of the Installation of Wave Energy Converters in Existing Breakwaters in the North of Spain

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