Levelised costs of Wave and Tidal energy in the UK: Cost competitiveness and the importance of “banded” Renewables Obligation Certificates

Allan, Grant; Gilmartin, Michelle; McGregor, Peter; Swales, John

doi:10.1016/j.enpol.2010.08.029

Cited by 139 publications

(85 citation statements)

References 16 publications

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“…The best detuned controller happens at 100% c c and 80% k c , but in this case the break-even point is p * = 68%. Up to now, only very little cost data is publicly available for WEC (see e.g., [54]). Hence, for a rough estimate of an upper bound of p, it is possible to look at the figures in the offshore wind sector.…”

Section: Discussionmentioning

confidence: 99%

Wave-to-wire Modelling of Wave Energy Converters

Ferri¹

2014

Wave-to-Wire Modelling of Wave Energy Converters

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Section: Discussionmentioning

confidence: 99%

Wave-to-wire Modelling of Wave Energy Converters

Ferri¹

2014

Wave-to-Wire Modelling of Wave Energy Converters

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“…Moreover, the whole plant is supposed to be dismantled after 20 years and the decommissioning cost is estimated to be 0.5%-1% of the initial investment [60]. All in all, the levelised cost of wave energy-which is the ratio of total lifetime expenses vs. total expected outputs expressed in terms of the present value [12]-ranges between 180 €/MWh and 490 €/MWh [49]. These values are quite higher than those of other traditional non-renewable electricity generation methods like pulverized fuel or even more recent methods like combined cycle gas turbine with carbon capture and storage, whose costs are respectively 32.57 €/MWh and 59.78 €/MWh [49].…”

Section: Economics Of Wave Energymentioning

confidence: 99%

“…However, there exist some limitations that could hinder its introduction into the energy mix, such as the higher investment implied, more demanding maintenance tasks or power variability. For its part, wave energy presents extensive possibilities for the future thanks to its enormous potential for electricity production [12,15,[33][34][35][36][37][38][39]. In fact, the global wave energy potential resource has been estimated at 10 TW [22], and depending on what is considered to be exploitable, this covers from 15% to 66% of the total world energy consumption [40,41].…”

Section: Introductionmentioning

confidence: 99%

“…Nevertheless, there are some barriers that may hinder the development of marine energies, such as the early stage of development of the technologies [1][2][3][4][5][6][7][8][9][10][11], high costs involved [12][13][14][15][16] or uncertainties regarding the environmental impacts [17][18][19][20][21][22][23][24][25][26][27]. Among the different alternatives of ocean energy, this work focuses on two of them: Offshore wind and wave energy.…”

Section: Introductionmentioning

confidence: 99%

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Enhancing Wave Energy Competitiveness through Co-Located Wind and Wave Energy Farms. A Review on the Shadow Effect

Astariz

Iglesias

2015

Energies

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Abstract:Wave energy is one of the most promising alternatives to fossil fuels due to the enormous available resource; however, its development may be slowed as it is often regarded as uneconomical. The largest cost reductions are expected to be obtained through economies of scale and technological progress. In this sense, the incorporation of wave energy systems into offshore wind energy farms is an opportunity to foster the development of wave energy. The synergies between both renewables can be realised through these co-located energy farms and, thus, some challenges of offshore wind energy can be met. Among them, this paper focuses on the longer non-operational periods of offshore wind turbines-relative to their onshore counterparts-typically caused by delays in maintenance due to the harsh marine conditions. Co-located wave energy converters would act as a barrier extracting energy from the waves and resulting in a shielding effect over the wind farm. On this basis, the aim of this paper is to analyse wave energy economics in a holistic way, as well as the synergies between wave and offshore wind energy, focusing on the shadow effect and the associated increase in the accessibility to the wind turbines.

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“…The reason can be mostly attributed to the high production costs, compared to other renewable energies technologies, as result of the large environmental forces to which WECs are exposed. Several studies have been carried out regarding the economic analysis of these devices, which is one of the main fields of research in marine renewable energy (e.g., [13][14][15][16][17][18][19][20][21][22][23]). Both the social acceptance of a WEC and the economic appeal for investors and utility providers remain heavily dependent on costs vs. payback analysis, that means competitively priced electricity supplies and reliability.…”

Section: Introductionmentioning

confidence: 99%

Economic Assessment of Overtopping BReakwater for Energy Conversion (OBREC): A Case Study in Western Australia

et al. 2016

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This paper constructs an optimal configuration assessment, in terms of the financial returns, of the Overtopping BReakwater for wave Energy Conversion (OBREC). This technology represents a hybrid wave energy harvester, totally embedded in traditional rubble mound breakwaters. Nine case studies along the southern coast of Western Australia have been analysed. The technique provides tips on how to estimate the quality of the investments, for benchmarking with different turbine strategy layouts and overlapping with the costs of traditional rubble mound breakwaters. Analyses of the offshore and nearshore wave climate have been studied by a high resolution coastal propagation model, forced with wave data from the European Centre for Medium-Range Weather Forecasts (ECMWF). Inshore wave conditions have been used to quantify the exploitable resources. It has been demonstrated that the optimal investment strategy is nonlinearly dependent on potential electricity production due to outer technical constraints. The work emphasizes the importance of integrating energy production predictions in an economic decision framework for prioritizing adaptation investments.

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Levelised costs of Wave and Tidal energy in the UK: Cost competitiveness and the importance of “banded” Renewables Obligation Certificates

Cited by 139 publications

References 16 publications

Wave-to-wire Modelling of Wave Energy Converters

Wave-to-wire Modelling of Wave Energy Converters

Enhancing Wave Energy Competitiveness through Co-Located Wind and Wave Energy Farms. A Review on the Shadow Effect

Economic Assessment of Overtopping BReakwater for Energy Conversion (OBREC): A Case Study in Western Australia

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