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Article

Bringing Structure to the Wave Energy Innovation Process with the Development of a Techno-Economic Tool

1
Wave Energy Scotland, An Lochran, 10 Inverness Campus, Inverness IV2 5NA, UK
2
School of Engineering, Institute for Energy Systems, University of Edinburgh, Edinburgh EH9 3DW, UK
3
Infrastructure & Engineering, Energy Systems Catapult, Birmingham B4 6BS, UK
*
Authors to whom correspondence should be addressed.
Academic Editor: Ryan Coe
Energies 2021, 14(24), 8201; https://doi.org/10.3390/en14248201
Received: 11 October 2021 / Revised: 19 November 2021 / Accepted: 1 December 2021 / Published: 7 December 2021
(This article belongs to the Collection Modeling and Design of Offshore Renewable Energy Systems)
Current wave energy development initiatives assume that available designs have the potential for success through continuous learning and innovation-based cost reduction. However, this may not be the case, and potential winning technologies may have been overlooked. The scenario creation tool presented in this paper provides a structured method for the earliest stages of design in technology development. The core function of the scenario creation tool is to generate and rank scenarios of potential Wave Energy Converter (WEC) attributes and inform the user on the areas of the parameter space that are most likely to yield commercial success. This techno-economic tool uses a structured innovation approach to identify commercially attractive and technically achievable scenarios, with a scoring system based on their power performance and costs. This is done by leveraging performance and cost data from state-of-the-art wave energy converters and identifying theoretical limits to define thresholds. As a result, a list of scored solutions is obtained depending on resource level, wave energy converter hull shape, size, material, degree of freedom for power extraction, and efficiency. This scenario creation tool can be used to support private and public investors to inform strategy for future funding calls, and technology developers and researchers in identifying new avenues of innovation. View Full-Text
Keywords: wave energy; structured innovation; scenario creation; technical achievability; commercial attractiveness wave energy; structured innovation; scenario creation; technical achievability; commercial attractiveness
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MDPI and ACS Style

Roberts, O.; Henderson, J.C.; Garcia-Teruel, A.; Noble, D.R.; Tunga, I.; Hodges, J.; Jeffrey, H.; Hurst, T. Bringing Structure to the Wave Energy Innovation Process with the Development of a Techno-Economic Tool. Energies 2021, 14, 8201. https://doi.org/10.3390/en14248201

AMA Style

Roberts O, Henderson JC, Garcia-Teruel A, Noble DR, Tunga I, Hodges J, Jeffrey H, Hurst T. Bringing Structure to the Wave Energy Innovation Process with the Development of a Techno-Economic Tool. Energies. 2021; 14(24):8201. https://doi.org/10.3390/en14248201

Chicago/Turabian Style

Roberts, Owain, Jillian Catherine Henderson, Anna Garcia-Teruel, Donald R. Noble, Inès Tunga, Jonathan Hodges, Henry Jeffrey, and Tim Hurst. 2021. "Bringing Structure to the Wave Energy Innovation Process with the Development of a Techno-Economic Tool" Energies 14, no. 24: 8201. https://doi.org/10.3390/en14248201

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