Economic viability of floating wave power farms considering the energy generated in the near future
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Economic viability of floating wave power farms considering the energy generated in the near futureAuthor(s)
Date
2024-02Citation
L. Castro-Santos, A. Filgueira-Vizoso, X. Costoya, B. Arguilé-Pérez, A.S. Ribeiro, Economic viability of floating wave power farms considering the energy generated in the near future, Renewable Energy 222 (2024) 119947. https://doi.org/10.1016/j.renene.2024.119947
Abstract
[Abstract]: This article aims to analyse the economic viability of floating wave energy farms for the present and the next
twenty years. The energy potential of the waves mainly depends on the climate, so the current and near future
analysis is crucial to determine the economic viability of wave energy farms in a particular location. Current and
near future wave resources were considered to assess the main parameters (Net Present Value (NPV), Internal
Rate of Return (IRR) and Levelized Cost of Energy (LCOE)) that allow to know the economic feasibility of wave
energy farms. This study takes one step forward in determining the economic evaluation of wave energy farms
located in deep waters using their future energy projections. The case of study in this paper is the Atlantic coast
of the Iberian Peninsula. Results indicate that the future wave energy reduction principally affects the NPV and
LCOE of the wave farm.
Keywords
Floating wave energy
Future wave resource
Levelized cost of energy
Net present value
Internal rate of return
Future wave resource
Levelized cost of energy
Net present value
Internal rate of return
Description
Financiado para publicación en acceso aberto: Universidade da Coruña/CISUG
Editor version
Rights
Attribution-NonCommercial 4.0 International
https://creativecommons.org/licenses/by-nc/4.0/
ISSN
1879-0682
0960-1481
0960-1481