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Energies 2016, 9(5), 324; doi:10.3390/en9050324

Methodology to Calculate the Costs of a Floating Offshore Renewable Energy Farm

Integrated Group for Engineering Research, Centro de Investigacións Tecnolóxicas, Departamento de Enxeñaría Naval e Oceánica, Escola Politécnica Superior, Universidade da Coruña, Campus de Ferrol, 15471 Ferrol, Spain
Centre for Marine Technology and Ocean Engineering (CENTEC), Instituto Superior Tecnico, Universidade de Lisboa, Av Rovisco Pais, 1049-001 Lisbon, Portugal
Author to whom correspondence should be addressed.
Academic Editor: John Ringwood
Received: 6 October 2015 / Revised: 16 March 2016 / Accepted: 12 April 2016 / Published: 28 April 2016
(This article belongs to the Special Issue Tools and Techniques for Economic Delivery of Ocean Energy)
View Full-Text   |   Download PDF [6110 KB, uploaded 28 April 2016]   |  


This paper establishes a general methodology to calculate the life-cycle cost of floating offshore renewable energy devices, applying it to wave energy and wind energy devices. It is accounts for the contributions of the six main phases of their life-cycle: concept definition, design and development, manufacturing, installation, exploitation and dismantling, the costs of which have been defined. Moreover, the energy produced is also taken into account to calculate the Levelized Cost of Energy of a floating offshore renewable energy farm. The methodology proposed has been applied to two renewable energy devices: a floating offshore wave energy device and a floating offshore wind energy device. Two locations have been considered: Aguçadoura and São Pedro de Moel, both in Portugal. Results indicate that the most important cost in terms of the life-cycle of a floating offshore renewable energy farm is the exploitation cost, followed by the manufacturing and the installation cost. In addition, the best area in terms of costs is the same independently of the type of floating offshore renewable energy considered: Aguçadoura. However, the results in terms of Levelized Cost of Energy are different: Aguçadoura is better when considering wave energy technology and the São Pedro de Moel region is the best option when considering floating wind energy technology. The method proposed aims to give a direct approach to calculate the main life-cycle cost of a floating offshore renewable energy farm. It helps to assess its feasibility and evaluating the relevant characteristics that influence it the most. View Full-Text
Keywords: levelized cost of energy (LCOE); floating offshore renewable energy; marine renewable energy; life-cycle cost; wave energy; wind energy levelized cost of energy (LCOE); floating offshore renewable energy; marine renewable energy; life-cycle cost; wave energy; wind energy

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This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).

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Castro-Santos, L.; Martins, E.; Guedes Soares, C. Methodology to Calculate the Costs of a Floating Offshore Renewable Energy Farm. Energies 2016, 9, 324.

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