Breaking-Down and Parameterising Wave Energy Converter Costs Using the CapEx and Similitude Methods

Autor: Michael Henriksen, Rodger Benson Tomlinson, Amir Etemad-Shahidi, Ophelie Choupin
Rok vydání: 2021
Předmět:
Wave energy converter
Control and Optimization
CapEx method
Computer science
cost breakdown and parameterisation
020209 energy
cost model
Energy Engineering and Power Technology
02 engineering and technology
010501 environmental sciences
lcsh:Technology
01 natural sciences
0202 electrical engineering
electronic engineering
information engineering
Electrical and Electronic Engineering
Activity-based costing
Engineering (miscellaneous)
0105 earth and related environmental sciences
wave energy converter (WEC)
lcsh:T
Renewable Energy
Sustainability and the Environment
business.industry
Work (physics)
Energy mix
Similitude
Renewable energy
Reliability engineering
Capital expenditure
capital expenditure (CapEx)
business
Froude law similarities
Similitude method
techno-economic analysis
Energy (signal processing)
Energy (miscellaneous)
Zdroj: Energies; Volume 14; Issue 4; Pages: 902
Energies, Vol 14, Iss 902, p 902 (2021)
ISSN: 1996-1073
Popis: 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 and introduces the more flexible and generic “CapEx method” divided into three steps: (1) distinguishing WEC’s elements from the wave energy farm (WEF)’s; (2) defining the parameters characterising the WECs, WEFs, and site locations; and (3) estimating elements that affect WEC and WEF elements’ cost and translate them into factors using the parameters defined in step (2). After validation from Wavepiston manual estimations, the CapEx method showed that the factors could represent up to 30% of the cost. The Similitude method provided slight cost-overestimations compared to the CapEx method for low WEC up-scaling, increasing exponentially with the scaling.
Databáze: OpenAIRE
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