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Breaking-Down And Parameterising Wave Energy Converter Costs Using The Capex And Similitude Methods, Ophelie Choupin, Michael Henriksen, Amir Etemad-Shahidi, Rodger Tomlinson
Breaking-Down And Parameterising Wave Energy Converter Costs Using The Capex And Similitude Methods, Ophelie Choupin, Michael Henriksen, Amir Etemad-Shahidi, Rodger Tomlinson
Research outputs 2014 to 2021
Wave energy converters (WECs) can play a significant role in the transition towards a more renewable-based energy mix as stable and unlimited energy resources. Financial analysis of these projects requires WECs cost and WEC capital expenditure (CapEx) information. However, (i) cost information is often limited due to confidentiality and (ii) the wave energy field lacks flexible methods for cost breakdown and parameterisation, whereas they are needed for rapid and optimised WEC configuration and worldwide site pairing. This study takes advantage of the information provided by Wavepiston to compare different costing methods. The work assesses the Froude-Law-similarities-based “Similitude method” for cost-scaling …