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Interrelationship between variables for wave direction-dependent WEC/site-configuration pairs using the CapEx method

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  • Choupin, Ophelie
  • Henriksen, Michael
  • Tomlinson, Rodger

Abstract

Renewable energies are mostly compared using the Levelised Cost of Energy (LCoE). Two major components of LCoE are of interest in this study, the others being still experimental: the Annual Energy Production (AEP) and the Capital Expenditure (CapEx). Since many Wave Energy Converters (WECs), including Wavepiston, are wave direction-dependent, this research investigates the wave direction impact on the relationship between the site-configurations (site characteristics and wave climates), WEC-configurations and power, alongside AEP and CapEx. Wave climate and WEC power are expressed in 3-dimension by adding the wave direction to the common 2-dimensional space of wave height and period. Wavepiston's WEF costs are calculated using the CapEx method. Assessing the relationship between the diverse sources of AEP/CapEx variations, enabled the development of the Cost-AEP Threshold Criterion (CAEPTC) to determine the threshold where an increase in AEP becomes negligible compared to CapEx increase. CAEPTC is perhaps a better alternative to LCoE for enhanced WEC/site-configuration pairing. Based on this Criterion and the limited dataset (a challenge to most wave companies), it was apparent that the best WEC/site-configuration pairs came from configurations with the highest yearly energy production, which is not necessarily the most expensive, and for sites with lower wave energy.

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  • Choupin, Ophelie & Henriksen, Michael & Tomlinson, Rodger, 2022. "Interrelationship between variables for wave direction-dependent WEC/site-configuration pairs using the CapEx method," Energy, Elsevier, vol. 248(C).
    • Handle: RePEc:eee:energy:v:248:y:2022:i:c:s0360544222004558
    DOI: 10.1016/j.energy.2022.123552
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