Next Article in Journal
An Improved LightGBM Algorithm for Online Fault Detection of Wind Turbine Gearboxes
Previous Article in Journal
Development of an Improved LMD Method for the Low-Frequency Elements Extraction from Turbine Noise Background
Previous Article in Special Issue
Review on Power Performance and Efficiency of Wave Energy Converters
Open AccessArticle

The Economic Feasibility of Floating Offshore Wave Energy Farms in the North of Spain

1
Departamento de Enxeñaría Naval e Oceánica, Escola Politécnica Superior, Universidade da Coruña, Esteiro, 15471 Ferrol, Spain
2
Centre for Marine Technology and Ocean Engineering (CENTEC), Instituto Superior Técnico, Universidade de Lisboa, 1049-001 Lisboa, Portugal
*
Author to whom correspondence should be addressed.
Energies 2020, 13(4), 806; https://doi.org/10.3390/en13040806 (registering DOI)
Received: 30 December 2019 / Revised: 24 January 2020 / Accepted: 7 February 2020 / Published: 12 February 2020
(This article belongs to the Special Issue Wave Energy Potential, Behavior and Extraction 2020)
A technique to analyse the economic viability of offshore farms composed of wave energy converters is proposed. Firstly, the inputs, whose value will be considered afterwards in the economic step, was calculated using geographic information software. Secondly, the energy produced by each wave converter was calculated. Then the economic factors were computed. Finally, the restriction that considers the depth of the region (bathymetry) was put together with the economic outputs, whose value depends on the floating Wave Energy Converter (WEC). The method proposed was applied to the Cantabric and Atlantic coasts in the north of Spain, a region with a good offshore wave energy resource. In addition, three representative WECs were studied: Pelamis, AquaBuoy and Wave Dragon; and five options for electric tariffs were analysed. Results show the Wave Energy Converter that has the best results regarding its LCOE (Levelized Cost of Energy), IRR (Internal Rate of Return) and NPV (Net Present Value), and which area is best for the development of a wave farm. View Full-Text
Keywords: feasibility; wave energy; WEC; floating; IRR; LCOE; marine energy; NPV feasibility; wave energy; WEC; floating; IRR; LCOE; marine energy; NPV
Show Figures

Graphical abstract

MDPI and ACS Style

Castro-Santos, L.; Bento, A.R.; Guedes Soares, C. The Economic Feasibility of Floating Offshore Wave Energy Farms in the North of Spain. Energies 2020, 13, 806.

Show more citation formats Show less citations formats
Note that from the first issue of 2016, MDPI journals use article numbers instead of page numbers. See further details here.

Article Access Map by Country/Region

1
Back to TopTop