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Sustainability 2016, 8(12), 1274; doi:10.3390/su8121274

Critical Factors Influencing Viability of Wave Energy Converters in Off-Grid Luxury Resorts and Small Utilities

1
Norwegian Institute of Systems Engineering (NISE), Høyskolen i SørØst-Norge, Hasbergs vei 36, 3616 Kongsberg, Norway
2
Institute for Energy Systems, University of Edinburgh, West Mains Road, Edinburgh EH9 3JN, UK
3
CorPower Ocean AB, Brinellvägen 23, 114 28 Stockholm, Sweden
*
Authors to whom correspondence should be addressed.
Academic Editors: Diego Vicinanza and Mariano Buccino
Received: 30 September 2016 / Revised: 28 November 2016 / Accepted: 29 November 2016 / Published: 7 December 2016
(This article belongs to the Special Issue Wave Energy Converters)
View Full-Text   |   Download PDF [2350 KB, uploaded 7 December 2016]   |  

Abstract

This paper examines technical and non-technical factors that are critical to the viability of commercialization of wave energy converters in off-grid luxury resorts and small utilities. Critical factors are found by investigating Levelized Cost of Energy, and using the tools PESTEL and Porter’s five competitive forces. Identified factors are then applied on three business cases to investigate their impact on viability. The results show that one of the main challenges facing off-grid commercialization is the few wave energy converter units installed per location, negating the economy of scale that large wave energy farms count on to achieve competitive cost levels. In addition, factors like current cost of energy, available wave resources, distance from shore, infrastructure, supply chain logistics, and electricity demand are found to be deciding factors for viability. Despite these challenges, it is found that there are potentially viable off-grid business cases for commercialization of wave energy converters. View Full-Text
Keywords: wave energy converter; off-grid commercialization; levelized cost of energy; luxury resorts; small utilities wave energy converter; off-grid commercialization; levelized cost of energy; luxury resorts; small utilities
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MDPI and ACS Style

Sandberg, A.B.; Klementsen, E.; Muller, G.; de Andres, A.; Maillet, J. Critical Factors Influencing Viability of Wave Energy Converters in Off-Grid Luxury Resorts and Small Utilities. Sustainability 2016, 8, 1274.

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