IDEAS home Printed from https://ideas.repec.org/a/eee/energy/v229y2021ics0360544221010604.html
   My bibliography  Save this article

Cost-benefit analysis of tidal energy production in a coastal lagoon: The case of Ria Formosa – Portugal

Author

Listed:
  • Rodrigues, N.
  • Pintassilgo, P.
  • Calhau, F.
  • González-Gorbeña, E.
  • Pacheco, A.

Abstract

The energy that can be extracted from tidal currents is one of the most promising renewable energy sources due to its high density/predictability. Within this paper this energy source is evaluated economically respecting sustainability principles. This evaluation contrasts from previous studies due to the application of a cost-benefit analysis based on a hydro-morphodynamic model, and moving away from the classic proxy of wind energy. It further includes, via the Monte Carlo method, a probabilistic underpinning to the project. The hydro-economic model was applied to a tidal energy project using an Evopod 1:4th scale prototype, based on a real deployment of an Evopod 1:10th scale device in the Ria Formosa, Algarve. The results show that, under the current costs and benefits, the project is not economically viable. However, there are admissible parameter ranges that make the project viable such as significant reduction of investment costs, increased capacity factors and favourable energy prices. This novel methodology has potential to be applied to other tidal energy projects on estuarine systems worldwide, and consists of a comprehensive modelling approach, including the technical, environmental, and socio-economic dimensions of the project, not only in a deterministic setting but also in a probabilistic one.

Suggested Citation

  • Rodrigues, N. & Pintassilgo, P. & Calhau, F. & González-Gorbeña, E. & Pacheco, A., 2021. "Cost-benefit analysis of tidal energy production in a coastal lagoon: The case of Ria Formosa – Portugal," Energy, Elsevier, vol. 229(C).
    • Handle: RePEc:eee:energy:v:229:y:2021:i:c:s0360544221010604
    DOI: 10.1016/j.energy.2021.120812
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0360544221010604
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.energy.2021.120812?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Allan, Grant & Gilmartin, Michelle & McGregor, Peter & Swales, Kim, 2011. "Levelised costs of Wave and Tidal energy in the UK: Cost competitiveness and the importance of "banded" Renewables Obligation Certificates," Energy Policy, Elsevier, vol. 39(1), pages 23-39, January.
    2. Lewis, Matt & McNaughton, James & Márquez-Dominguez, Concha & Todeschini, Grazia & Togneri, Michael & Masters, Ian & Allmark, Matthew & Stallard, Tim & Neill, Simon & Goward-Brown, Alice & Robins, Pet, 2019. "Power variability of tidal-stream energy and implications for electricity supply," Energy, Elsevier, vol. 183(C), pages 1061-1074.
    3. Pacheco, A. & Ferreira, Ó., 2016. "Hydrodynamic changes imposed by tidal energy converters on extracting energy on a real case scenario," Applied Energy, Elsevier, vol. 180(C), pages 369-385.
    4. Segura, E. & Morales, R. & Somolinos, J.A., 2018. "Economic-financial modeling for marine current harnessing projects," Energy, Elsevier, vol. 158(C), pages 859-880.
    5. Denny, Eleanor, 2009. "The economics of tidal energy," Energy Policy, Elsevier, vol. 37(5), pages 1914-1924, May.
    6. González-Gorbeña, Eduardo & Pacheco, André & Plomaritis, Theocharis A. & Ferreira, Óscar & Sequeira, Cláudia, 2018. "Estimating the optimum size of a tidal array at a multi-inlet system considering environmental and performance constraints," Applied Energy, Elsevier, vol. 232(C), pages 292-311.
    7. Rafaela Hillerbrand, 2018. "Why Affordable Clean Energy Is Not Enough. A Capability Perspective on the Sustainable Development Goals," Sustainability, MDPI, vol. 10(7), pages 1-14, July.
    8. Neill, Simon P. & Hashemi, M. Reza & Lewis, Matt J., 2016. "Tidal energy leasing and tidal phasing," Renewable Energy, Elsevier, vol. 85(C), pages 580-587.
    9. Pacheco, A. & Gorbeña, E. & Plomaritis, T.A. & Garel, E. & Gonçalves, J.M.S. & Bentes, L. & Monteiro, P. & Afonso, C.M.L. & Oliveira, F. & Soares, C. & Zabel, F. & Sequeira, C., 2018. "Deployment characterization of a floatable tidal energy converter on a tidal channel, Ria Formosa, Portugal," Energy, Elsevier, vol. 158(C), pages 89-104.
    10. Vazquez, A. & Iglesias, G., 2016. "Grid parity in tidal stream energy projects: An assessment of financial, technological and economic LCOE input parameters," Technological Forecasting and Social Change, Elsevier, vol. 104(C), pages 89-101.
    11. Dalton, Gordon & Allan, Grant & Beaumont, Nicola & Georgakaki, Aliki & Hacking, Nick & Hooper, Tara & Kerr, Sandy & O’Hagan, Anne Marie & Reilly, Kieran & Ricci, Pierpaolo & Sheng, Wanan & Stallard, T, 2015. "Economic and socio-economic assessment methods for ocean renewable energy: Public and private perspectives," Renewable and Sustainable Energy Reviews, Elsevier, vol. 45(C), pages 850-878.
    12. Lamy, Julian V. & Azevedo, Inês L., 2018. "Do tidal stream energy projects offer more value than offshore wind farms? A case study in the United Kingdom," Energy Policy, Elsevier, vol. 113(C), pages 28-40.
    13. Pacheco, A. & Ferreira, Ó. & Carballo, R. & Iglesias, G., 2014. "Evaluation of the production of tidal stream energy in an inlet channel by coupling field data and numerical modelling," Energy, Elsevier, vol. 71(C), pages 104-117.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Fouz, D.M. & Carballo, R. & López, I. & González, X.P. & Iglesias, G., 2023. "A methodology for cost-effective analysis of hydrokinetic energy projects," Energy, Elsevier, vol. 282(C).
    2. Mahmoudan, Alireza & Samadof, Parviz & Hosseinzadeh, Siamak & Garcia, Davide Astiaso, 2021. "A multigeneration cascade system using ground-source energy with cold recovery: 3E analyses and multi-objective optimization," Energy, Elsevier, vol. 233(C).
    3. Garcia-Novo, Patxi & Inubuse, Masako & Matsuno, Takeshi & Kyozuka, Yusaku & Archer, Philip & Matsuo, Hiroshi & Henzan, Katsuhiro & Sakaguchi, Daisaku, 2024. "Characterization of the wake generated downstream of a MW-scale tidal turbine in Naru Strait, Japan, based on vessel-mounted ADCP data," Energy, Elsevier, vol. 299(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Zeyringer, Marianne & Fais, Birgit & Keppo, Ilkka & Price, James, 2018. "The potential of marine energy technologies in the UK – Evaluation from a systems perspective," Renewable Energy, Elsevier, vol. 115(C), pages 1281-1293.
    2. Jenkins, Lekelia Danielle & Dreyer, Stacia Jeanne & Polis, Hilary Jacqueline & Beaver, Ezra & Kowalski, Adam A. & Linder, Hannah L. & McMillin, Thomas Neal & McTiernan, Kaylie Laura & Rogier, Thea The, 2018. "Human dimensions of tidal energy: A review of theories and frameworks," Renewable and Sustainable Energy Reviews, Elsevier, vol. 97(C), pages 323-337.
    3. Fouz, D.M. & Carballo, R. & López, I. & González, X.P. & Iglesias, G., 2023. "A methodology for cost-effective analysis of hydrokinetic energy projects," Energy, Elsevier, vol. 282(C).
    4. Vazquez, A. & Iglesias, G., 2016. "Capital costs in tidal stream energy projects – A spatial approach," Energy, Elsevier, vol. 107(C), pages 215-226.
    5. González-Gorbeña, Eduardo & Pacheco, André & Plomaritis, Theocharis A. & Ferreira, Óscar & Sequeira, Cláudia, 2018. "Estimating the optimum size of a tidal array at a multi-inlet system considering environmental and performance constraints," Applied Energy, Elsevier, vol. 232(C), pages 292-311.
    6. Deng, Guizhong & Zhang, Zhaoru & Li, Ye & Liu, Hailong & Xu, Wentao & Pan, Yulin, 2020. "Prospective of development of large-scale tidal current turbine array: An example numerical investigation of Zhejiang, China," Applied Energy, Elsevier, vol. 264(C).
    7. Yang, Zhixue & Ren, Zhouyang & Li, Zhenwen & Xu, Yan & Li, Hui & Li, Wenyuan & Hu, Xiuqiong, 2022. "A comprehensive analysis method for levelized cost of energy in tidal current power generation farms," Renewable Energy, Elsevier, vol. 182(C), pages 982-991.
    8. Burić, Melita & Grgurić, Sanja & Mikulčić, Hrvoje & Wang, Xuebin, 2021. "A numerical investigation of tidal current energy resource potential in a sea strait," Energy, Elsevier, vol. 234(C).
    9. Fouz, D.M. & Carballo, R. & López, I. & Iglesias, G., 2022. "A holistic methodology for hydrokinetic energy site selection," Applied Energy, Elsevier, vol. 317(C).
    10. Eva Segura & Rafael Morales & José A. Somolinos, 2019. "Influence of Automated Maneuvers on the Economic Feasibility of Tidal Energy Farms," Sustainability, MDPI, vol. 11(21), pages 1-22, October.
    11. Topper, Mathew B.R. & Olson, Sterling S. & Roberts, Jesse D., 2021. "On the benefits of negative hydrodynamic interactions in small tidal energy arrays," Applied Energy, Elsevier, vol. 297(C).
    12. Pacheco, A. & Gorbeña, E. & Plomaritis, T.A. & Garel, E. & Gonçalves, J.M.S. & Bentes, L. & Monteiro, P. & Afonso, C.M.L. & Oliveira, F. & Soares, C. & Zabel, F. & Sequeira, C., 2018. "Deployment characterization of a floatable tidal energy converter on a tidal channel, Ria Formosa, Portugal," Energy, Elsevier, vol. 158(C), pages 89-104.
    13. Vazquez, A. & Iglesias, G., 2015. "LCOE (levelised cost of energy) mapping: A new geospatial tool for tidal stream energy," Energy, Elsevier, vol. 91(C), pages 192-201.
    14. Khojasteh, Danial & Lewis, Matthew & Tavakoli, Sasan & Farzadkhoo, Maryam & Felder, Stefan & Iglesias, Gregorio & Glamore, William, 2022. "Sea level rise will change estuarine tidal energy: A review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 156(C).
    15. Eva Segura & Rafael Morales & José A. Somolinos, 2019. "Increasing the Competitiveness of Tidal Systems by Means of the Improvement of Installation and Maintenance Maneuvers in First Generation Tidal Energy Converters—An Economic Argumentation," Energies, MDPI, vol. 12(13), pages 1-27, June.
    16. Lim, Xin-Le & Lam, Wei-Haur & Hashim, Roslan, 2015. "Feasibility of marine renewable energy to the Feed-in Tariff system in Malaysia," Renewable and Sustainable Energy Reviews, Elsevier, vol. 49(C), pages 708-719.
    17. Fairley, Iain & Williamson, Benjamin J. & McIlvenny, Jason & King, Nicholas & Masters, Ian & Lewis, Matthew & Neill, Simon & Glasby, David & Coles, Daniel & Powell, Ben & Naylor, Keith & Robinson, Max, 2022. "Drone-based large-scale particle image velocimetry applied to tidal stream energy resource assessment," Renewable Energy, Elsevier, vol. 196(C), pages 839-855.
    18. Evans, P. & Mason-Jones, A. & Wilson, C. & Wooldridge, C. & O'Doherty, T. & O'Doherty, D., 2015. "Constraints on extractable power from energetic tidal straits," Renewable Energy, Elsevier, vol. 81(C), pages 707-722.
    19. Astariz, S. & Iglesias, G., 2016. "Co-located wind and wave energy farms: Uniformly distributed arrays," Energy, Elsevier, vol. 113(C), pages 497-508.
    20. Driscoll, Honora & Salmon, Nicholas & Bañares-Alcántara, Rene, 2024. "Exploiting the temporal characteristics of tidal stream power for green ammonia production," Renewable Energy, Elsevier, vol. 226(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:energy:v:229:y:2021:i:c:s0360544221010604. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.journals.elsevier.com/energy .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.