The Economics of Wave and Tidal Energy

Iglesias, G.; Astariz, S.; Vazquez, A.

doi:10.1002/9781119014492.ch11

Cited by 4 publications

(3 citation statements)

References 73 publications

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“…electricity. From an economical perspective, it is forecasted that PTOs are going to become one of the main contributors to the wave energy arrays cost [1], representing up to 20-22% of the lifetime costs [2][3][4]. Accordingly, PTOs have always been at the focus of the research, development, and innovation in the wave energy sector.…”

Section: Introductionmentioning

confidence: 99%

Recent Advances in Direct-Drive Power Take-Off (DDPTO) Systems for Wave Energy Converters Based on Switched Reluctance Machines (SRM)

Blanco

Torres

Santos-Herrán

et al. 2021

Ocean Engineering &Amp; Oceanography

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This chapter is focused on Power Take-Off (PTO) systems for wave energy converters (WEC), being one of the most important elements since PTOs are responsible to transform the mechanical power captured from the waves into electricity. It presents Direct-Drive PTO (DDPTO) as one of the most reliable solutions to be adapted to some particular types of WEC, such as point absorbers. A discussion about modularity and adaptability, together with intrinsic characteristics of direct-drive PTOs, is also included. Among the different technologies of electric machines that can be used in direct-drive linear PTOs, switched reluctance machines (SRM) are described in further detail. In particular, the Azimuthal Multi-translator SRM is presented as a suitable solution in order to increase power density and reduce costs. Not only the electric machine, but also the associated power electronics are described in detail. The description includes the different configurations and topologies of power converters and the most appropriate control strategies. Finally, a superconducting linear generator solution is described, presenting it as a reliable alternative for the application of direct-drive PTOs. An example of concept and preliminary design is included in order to highlight the main challenges to be faced during this process.

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Section: Introductionmentioning

confidence: 99%

Recent Advances in Direct-Drive Power Take-Off (DDPTO) Systems for Wave Energy Converters Based on Switched Reluctance Machines (SRM)

Blanco

Torres

Santos-Herrán

et al. 2021

Ocean Engineering &Amp; Oceanography

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“…The Balance of plant costs include costs related to the power take-off (PTO) system [34][35][36], the supply of all its constituting components and its delivery to the port. Mooring [24,25,33,37,38] and foundation [30,39] costs are also included in this cost centre together with the electrical installation necessary to render the farm grid-connected [30,33,[40][41][42][43][44]. All in all, this cost centre has the second most significant impact on the CAPEX.…”

Section: Balance Of Plantmentioning

confidence: 99%

A Proposed Guidance for the Economic Assessment of Wave Energy Converters at Early Development Stages

Têtu

Chozas

2021

Energies

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Wave energy is one of the most promising renewable energies available with its very large resource. The waves generated by the wind field are steadier than the wind field itself, rendering wave energy more consistent than wind energy. It is also more predictable than wind and solar. Wave energy is making continuous progress towards commercialisation, and thanks to an increasing number of deployments at sea, the sector is increasing the understanding of the costs and economies of these projects. No wave energy converter has been demonstrated to be commercially viable, and it is yet to be proven that wave energy can contribute to the renewable energy mix. In this context, and in order to find an economically viable solution for exploiting wave energy, it is important to assess the economic potential of a particular concept throughout the entire technological development process. At early development stages, this assessment can be challenging and present large uncertainties. Notwithstanding, it is important to perform the economic assessment already at the early stages in order to identify possible bottlenecks or potential improvements or modifications of a concept. This work presents guidance for the economic evaluation of a wave energy concept at an early development stage by setting up the economic frame based on a target LCoE. It involves the understanding of the entry cost to be achieved for a specific target market and evaluating the breakdown of costs based on a detailed technology agnostic database of costs. The guidance is then applied to a new type of wave energy converter, in which the primary coupling with the waves is through hydrodynamic lift forces.

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“…Subsidy‐free solar and offshore wind are close to becoming a reality in many countries (Al‐Ezzi, ; Welisch & Poudineh, ), while wave energy costs still require large price supports (Farrell, O'Donoghue, & Morrissey, ; Iglesias, Astariz, & Vazquez, ). It is therefore important to ask the question; are wave energy price supports justified on non‐environmental grounds such as regional development?…”

Section: Introductionmentioning

confidence: 99%

Regional income and wave energy deployment in Ireland

Farrell

O’Donoghue

Morrissey

2020

Papers in Regional Science

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Alongside environmental benefits, renewable energy deployment is often evaluated on grounds of regional development. Focusing on wave energy deployment in Ireland, this paper quantifies employment-related welfare change net of associated subsidy costs. Although the added employment reduces inter-regional inequality, certain subsidies increase total income inequality by a greater extent.Total inequality increases by 0.25% in the preferred scenario. This pattern of incidence persists under an optimistic scenario where all manufacturing activity is carried out locally. This finding highlights that policies of regional development should consider the spatial distribution of associated subsidy costs. KEYWORDSinequality, spatial microsimulation, regional development, renewable energy JEL CLASSIFICATION D31; H23; Q42; Q43; Q48; R12

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The Economics of Wave and Tidal Energy

Cited by 4 publications

References 73 publications

Recent Advances in Direct-Drive Power Take-Off (DDPTO) Systems for Wave Energy Converters Based on Switched Reluctance Machines (SRM)

Recent Advances in Direct-Drive Power Take-Off (DDPTO) Systems for Wave Energy Converters Based on Switched Reluctance Machines (SRM)

A Proposed Guidance for the Economic Assessment of Wave Energy Converters at Early Development Stages

Regional income and wave energy deployment in Ireland

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