On the reversed LCOE calculation: Design constraints for wave energy commercialization

Andrés, Adrián de; Medina-López, Encarni; Crooks, David; Roberts, Owain; Jeffrey, Henry

doi:10.1016/j.ijome.2017.03.008

Cited by 67 publications

(51 citation statements)

References 18 publications

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“…In addition, it is common for large civil beneficial project to be co-financed Public-Private Partnerships (PPP) reducing their level of danger, and can also be given preferential "social discount rates" from 1-5% [44]. The analysis estimates LCoE using the discounted method, and considering a lifetime for the OWC of 40 years, with a repowering of the electrical power take of the facility at year 20 (RePower 20 ), valued at 20% of the initial CapEx [45]. For breakwater integrated WECs, the majority of expenditure is civil engineering works.…”

Section: Methodsmentioning

confidence: 99%

Blue Growth Development in the Mediterranean Sea: Quantifying the Benefits of an Integrated Wave Energy Converter at Genoa Harbour

2020

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Coastal resilience is often achieved by traditional civil engineering projects, such as dikes and breakwaters. However, given the pressing nature of Climate Change, integrating energy converters in “classical” structures can enhance innovation, and help in pursuing decarbonisation targets. In this work, we present an alternative for integrating a wave energy converter at a vertical wall breakwater, following past successful projects. Our approach is based on a high spatio-temporal wave dataset to properly quantify expected energy production, but also focus on the hours for which other time-dependent renewables cannot produce, i.e., solar. Our analysis evaluates the power performance and assesses the economic parameters and viability of the proposed installation. Our integrated solution shares the main capital with the breakwater and can produce from 390 MWh–2300 MWh/year, displacing more than 1760 Tn of CO2 annually. In addition to power generated, we estimated the payback period for most cases being approximately 10–15 years, but when accounting avoided oil CO2 emissions, the installation is highly attractive with payback in less than 9 years, with favourable financing indicating 3.4 years.

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Section: Methodsmentioning

confidence: 99%

Blue Growth Development in the Mediterranean Sea: Quantifying the Benefits of an Integrated Wave Energy Converter at Genoa Harbour

2020

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“…Other factors include costs related to construction and installation, maintenance cost, etc. [159][160][161]. In addition, some recent research studies [162,163] have studied the possibility of the collocation of wave energy converters and offshore wind turbines at the same geographical area to increase the energy output and reduce the variability of energy output, which also creates a number of important synergies and advantages including a reduction of installation costs combining foundations, electrical infrastructure, installation, planning and development, and a reduction of operational and maintenance costs.…”

Section: Cost Trends Of Wave Energy Convertersmentioning

confidence: 99%

Review on Power Performance and Efficiency of Wave Energy Converters

Aderinto

2019

Energies

136

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The level of awareness about ocean wave energy as a viable source of useful energy has been increasing recently. Different concepts and methods have been suggested by many researchers to harvest ocean wave energy. This paper reviews and compares the efficiencies and power performance of different wave energy converters. The types of analyses used in deriving the reported efficiencies are identified, and the stage of the power conversion processes at which the efficiencies were determined is also identified. In order to find a common way to compare the efficiencies of different technologies, the hydrodynamic efficiency in relation to the characteristic width of the wave energy converters and the wave resource potential are chosen in this paper. The results show that the oscillating body systems have the highest ratio in terms of the efficiency per characteristic width, and overtopping devices have the lowest. In addition, with better understanding of the devices' dynamics, the efficiencies of the newer oscillating water column and body systems would increase as the potential wave energy level increases, which shows that those newer designs could be suitable for more potential locations with large variations in wave energy potentials. At last, discussion about the cost of ocean wave energy is presented as well.

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“…In order to become commercial, the cost of energy will have to reduce. Of the different cost centres, which combine to result in a cost of energy, the Operational Expenditure (OPEX) represents a large proportion of the overall costs [7,8]. Installation and decommissioning costs also contribute significantly to LCOE and are surrounded by uncertainties due to the relatively few deployed projects.…”

Section: Introductionmentioning

confidence: 99%

“…Installation and decommissioning costs also contribute significantly to LCOE and are surrounded by uncertainties due to the relatively few deployed projects. In the literature, OPEX and installation costs of ocean energy developments have been found to represent around 1/3 of the total project costs [7,8] Variations in costs are attributed to different devices and sites. For some devices, operational costs are lower, as they can be assisted by smaller boats, or their sites allow wider operational weather windows.…”

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

O&M Models for Ocean Energy Converters: Calibrating through Real Sea Data

et al. 2019

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Of the cost centres that combine to result in Levelised Cost of Energy (LCOE), O&M costs play a significant part. Several developers have calculated component costs, demonstrating how they can become commercially competitive with other forms of renewable energy. However, there are uncertainties relating to the O&M figures that can only be reduced through lessons learned at sea. This work presents an O&M model calibrated with data from real sea experience of a wave energy device deployed at the Biscay Marine energy Platform (BiMEP): the OPERA O&M Model. Two additional case studies, utilising two other O&M calculation methodologies, are presented for comparison with the OPERA O&M Model. The second case study assumes the inexistence of an O&M model, utilising a Simplified Approach. The third case study applies DTOcean’s (a design tool for ocean energy arrays) O&M module. The results illustrate the potential advantages of utilising real sea data for the calibration and development of an O&M model. The Simplified Approach was observed to overestimate LCOE when compared to the OPERA O&M Model. This work also shows that O&M models can be used for the definition of optimal maintenance plans to assist with OPEX reduction.

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On the reversed LCOE calculation: Design constraints for wave energy commercialization

Cited by 67 publications

References 18 publications

Blue Growth Development in the Mediterranean Sea: Quantifying the Benefits of an Integrated Wave Energy Converter at Genoa Harbour

Blue Growth Development in the Mediterranean Sea: Quantifying the Benefits of an Integrated Wave Energy Converter at Genoa Harbour

Review on Power Performance and Efficiency of Wave Energy Converters

O&M Models for Ocean Energy Converters: Calibrating through Real Sea Data

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