Cost assessment methodology for combined wind and wave floating offshore renewable energy systems

Castro-Santos, Laura; Martins, Elson; Soares, C. Guedes

doi:10.1016/j.renene.2016.06.016

Cited by 95 publications

(44 citation statements)

References 25 publications

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“…For additional aspects of collocated systems; see [69][70][71][72][73]. A methodology for cost assessment regarding such hybrid systems has been provided in [74]. …”

Section: Synergies With Offshore Windmentioning

confidence: 99%

Marine Renewable Energy in the Mediterranean Sea: Status and Perspectives

et al. 2017

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Abstract:In this work, an extended overview of the marine renewable energy in the Mediterranean Sea is provided as regards current status, potential problems, challenges, and perspectives of development. An integrated and holistic approach is necessary for the economic viability and sustainability of marine renewable energy projects; this approach comprises three different frameworks, not always aligned, i.e., geotechnical/engineering, socio-economic, and environmental/ ecological frameworks. In this context, the geomorphological, climatological, socio-economic, and environmental/ecological particularities of the Mediterranean basin are discussed, as they constitute key issues of the spatial context in which marine renewable energy projects are to be implemented. General guidelines for the sustainable development of marine renewable energy in the Mediterranean are also provided.Keywords: marine renewable energy; ocean energy; offshore wind energy; marine spatial planning; Mediterranean Sea; roadmap for marine energy development Key TopicsThe main topics that this paper deals with, can be summarized as follows: •Global status of the different types of marine renewable energy (MRE), i.e., offshore wind, wave, tidal, thermal, and salinity gradients energy conversion:

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“…For additional aspects of collocated systems; see [69][70][71][72][73]. A methodology for cost assessment regarding such hybrid systems has been provided in [74]. …”

Section: Synergies With Offshore Windmentioning

confidence: 99%

Marine Renewable Energy in the Mediterranean Sea: Status and Perspectives

et al. 2017

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“…Finally, considering the outputs, the equations used are shown in Table 4, as follows [36][37][38]: C1, in €, is the defining cost; C2 in € is the designing and developing cost; C3, in €, is the manufacturing cost; C4, in €, is the installing cost; C5, in €, is the exploiting cost; C6, in €, is the dismantling cost, C t , in €, is the cost of the correspondent year, E t , in MWh/year, is the energy produced, r, in %, is the capital cost; CF t is the cash flow; t, in years, is the life-cycle of the project; and G 0 , in €, is the initial investment. The project will be economically feasible if the net present value is positive, the internal rate of return is higher than the capital cost, and the levelized cost of energy has low values.…”

Section: Criteria and Protocolmentioning

confidence: 99%

A Software for Calculating the Economic Aspects of Floating Offshore Renewable Energies

Castro-Santos

Filgueira-Vizoso

2019

IJERPH

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The aim of this work is to develop a software to calculate the economic parameters so as to determine the feasibility of a floating offshore renewable farm in a selected location. The software can calculate the economic parameters of several types of offshore renewable energies, as follows: one renewable energy (floating offshore wind—WindFloat, tension leg platform (TLP), and spar; floating wave energy—Pelamis and AquaBuoy), hybrid offshore wind and wave systems (Wave Dragon and W2Power), and combined offshore wind and waves with different systems (independent arrays, peripherally distributed arrays, uniformly distributed arrays, and non-uniformly distributed arrays). The user can select several inputs, such as the location, configuration of the farm, type of floating offshore platform, type of power of the farm, life-cycle of the farm, electric tariff, capital cost, corporate tax, steel cost, percentage of financing, or interest and capacity of the shipyard. The case study is focused on the Galicia region (NW of Spain). The results indicate the economic feasibility of a farm of floating offshore renewable energy in a particular location in terms of its costs, levelized cost of energy (LCOE), internal rate of return (IRR), net present value (NPV), and discounted pay-back period. The tool allows for establishing conclusions about the dependence of the offshore wind resource parameters, the main distances (farm–shore, farm–shipyard, and farm–port), the parameters of the waves, and the bathymetry of the area selected.

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“…Floating offshore wind technology is being developed to create new solutions for deep waters. In this sense, there are many studies about the design of the floating platforms [10,24], but there is less information about the economic aspects of the farms [19,25]. Therefore, this paper aims to introduce some economic aspects of floating offshore wind that are useful for planning this type of farms.…”

Section: Introductionmentioning

confidence: 99%

Influence of Size on the Economic Feasibility of Floating Offshore Wind Farms

et al. 2018

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This paper uses a method to analyze the economic influence of the size of floating offshore wind farms. The economic aspects analyzed, LCOE (Levelized Cost Of Energy) and costs, depend on the number of floating offshore wind turbines, which establishes the effect of the size of the farm. This influence has been carried out for a map in a specific location. Regarding the case study, 18 alternatives have been considered taking into account the total power of the farm and the types of floating platforms. These aspects have been studied for the location of Galicia (Spain). Results indicate how LCOE and costs vary when the size of the floating offshore wind farm is increased for the studied kinds of offshore structures. Results are useful for planning an offshore wind farm in deep waters in future investments.

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Cost assessment methodology for combined wind and wave floating offshore renewable energy systems

Cited by 95 publications

References 25 publications

Marine Renewable Energy in the Mediterranean Sea: Status and Perspectives

Marine Renewable Energy in the Mediterranean Sea: Status and Perspectives

A Software for Calculating the Economic Aspects of Floating Offshore Renewable Energies

Influence of Size on the Economic Feasibility of Floating Offshore Wind Farms

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