Evaluation and comparison of the levelized cost of tidal, wave, and offshore wind energy

• DOI: 10.1063/1.4932154
• Publication Date: 2015-10-02T17:00:17Z
• Authors: S. Astariz; A. Vazquez; G. Iglesias
• Keywords: Marine energy; Tidal power

In the current context of environmental degradation and depletion fossil fuels, marine energy has emerged as an alternative to traditional resources. However, being in initial step development, extracting from ocean is often regarded difficult uneconomical. The existing models for assessing costs are oversimplified, leading uncertainties that may hold investors back slow down market penetration this renewable. Therefore, accurate prediction fundamental drawing conclusions about its competitiveness. Among different possibilities energy, paper focuses on economic analysis tidal, wave, offshore wind energy. individual involved construction these parks operation maintenance tasks during their lifetime determined. With information, levelized cost (€/MW h) calculated wind, wave tidal (€165/MW h, €225/MW h €190/MW respectively). It found renewables have a higher than sources; however, considering factors such learning rate or externalities enhances second part paper, combined systems, hybrid converters, presented future solution boost development energies. synergies between outlined, well savings can be achieved through diversified systems.