Methodology to Calculate the Costs of a Floating Offshore Renewable Energy Farm

Abstract

This paper establishes a general methodology to calculate the life-cycle cost of floating offshore renewable energy devices, applying it to wave energy and wind energy devices. It is accounts for the contributions of the six main phases of their life-cycle: concept definition, design and development, manufacturing, installation, exploitation and dismantling, the costs of which have been defined. Moreover, the energy produced is also taken into account to calculate the Levelized Cost of Energy of a floating offshore renewable energy farm. The methodology proposed has been applied to two renewable energy devices: a floating offshore wave energy device and a floating offshore wind energy device. Two locations have been considered: Aguçadoura and São Pedro de Moel, both in Portugal. Results indicate that the most important cost in terms of the life-cycle of a floating offshore renewable energy farm is the exploitation cost, followed by the manufacturing and the installation cost. In addition, the best area in terms of costs is the same independently of the type of floating offshore renewable energy considered: Aguçadoura. However, the results in terms of Levelized Cost of Energy are different: Aguçadoura is better when considering wave energy technology and the São Pedro de Moel region is the best option when considering floating wind energy technology. The method proposed aims to give a direct approach to calculate the main life-cycle cost of a floating offshore renewable energy farm. It helps to assess its feasibility and evaluating the relevant characteristics that influence it the most.

Economic Feasibility of Floating Offshore Wind Farms in the North of Spain

“…Given that these inputs (the shape parameter of the offshore wind, the scale parameter of the offshore wind, the height and period of waves, the bathymetry, the distance farmshore, the distance farm-shipyard, and the distance farm-port) vary depending on the point (k) of the geography considered, the joining of all these points generates a map of the location of study. In this sense, the calculation of the cost of all the life cycle process of a floating offshore wind farm (FOWF) has been developed in previous studies [43,44] and it is calculated considering several phases [1]: the concept definition (C1), the design and development (C2), the manufacturing (C3), the installation (C4), the exploitation (C5), and the dismantling (C6). This calculation has been carried out for each point "k" of the geography [44].…”

“…In this sense, the calculation of the cost of all the life cycle process of a floating offshore wind farm (FOWF) has been developed in previous studies [43,44] and it is calculated considering several phases [1]: the concept definition (C1), the design and development (C2), the manufacturing (C3), the installation (C4), the exploitation (C5), and the dismantling (C6). This calculation has been carried out for each point "k" of the geography [44].…”

“…The cost of installing the farm considers the value of installing the wind turbines (C41) and their platforms (C42), the installation of anchoring and moorings (C43), and, finally, the cost of installing the electric components (mainly electric cables and substation) (C44) [44].…”

Evaluation of Some State-Of-The-Art Wind Technologies in the Nearshore of the Black Sea

“…A possible way to tackle this issue is to use natural resources (such as solar or geothermal) to secure a sustainable future and limit the effects of fossil fuels products [3][4][5]. One of the most successful sectors is wind energy, which has already demonstrated its technical-economic viability in various parts of the world, being possible to develop projects on land or in the marine environment [6][7][8]. Coastal areas seem to present much higher wind resources than onshore, while the wind turbulences reported in these regions seem to have a lower impact on turbine performance.…”

The Role of Logistics in Practical Levelized Cost of Energy Reduction Implementation and Government Sponsored Cost Reduction Studies: Day and Night in Offshore Wind Operations and Maintenance Logistics

“…Many of the findings should also be applicable in Asia where especially the fastest growing market of China has cited O&M and logistics as significant gaps that need to be filled [86]. However, O&M logistics for floating wind turbines have not been considered within the case study performed [87].…”