Capital costs in tidal stream energy projects: A site-specific approach

A. Vazquez; G. Iglesias

doi:10.1201/9781315229256-104

Capital costs in tidal stream energy projects: A site-specific approach

A. Vazquez
, G. Iglesias

Research output: Chapter in Book/Report/Conference proceedings › Conference proceeding › peer-review

Abstract

Tidal stream energy is arguably one of the most promising renewables. However, its cost is still a barrier to market penetration. In particular, capital costs are vital elements of its overall and relative economic competitiveness, representing the greater part of the levelised cost of tidal stream energy. The objective of this work is to develop a new formulation for estimating the levelised capital costs of a tidal stream farm (LCaOE), and to implement this formula in a Matlab-based tool coupled with a Navier- Stokes solver and thus deliver the spatial distribution of this cost. The LCaOE constitutes an indicator of the capital investment in relation with the revenues (energy produced) over the entire life of the tidal stream installation, and can therefore serve as a decision criterion for allocating tidal stream projects and for designating supporting mechanisms. The Bristol Channel (UK) is used as a case study to illustrate the new approach.

Original language	English
Title of host publication	Progress in Renewable Energies Offshore - Proceedings of 2nd International Conference on Renewable Energies Offshore, RENEW 2016
Editors	C. Guedes Soares
Publisher	CRC Press/Balkema
Pages	883-890
Number of pages	8
ISBN (Print)	9781138626270
DOIs	https://doi.org/10.1201/9781315229256-104
Publication status	Published - 2016
Externally published	Yes
Event	2nd International Conference on Renewable Energies Offshore, RENEW 2016 - Lisbon, Portugal Duration: 24 Oct 2016 → 26 Oct 2016

Publication series

Name	Progress in Renewable Energies Offshore - Proceedings of 2nd International Conference on Renewable Energies Offshore, RENEW 2016

Conference

Conference	2nd International Conference on Renewable Energies Offshore, RENEW 2016
Country/Territory	Portugal
City	Lisbon
Period	24/10/16 → 26/10/16

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 7 Affordable and Clean Energy

Access to Document

10.1201/9781315229256-104

Cite this

Vazquez, A., & Iglesias, G. (2016). Capital costs in tidal stream energy projects: A site-specific approach. In C. Guedes Soares (Ed.), Progress in Renewable Energies Offshore - Proceedings of 2nd International Conference on Renewable Energies Offshore, RENEW 2016 (pp. 883-890). (Progress in Renewable Energies Offshore - Proceedings of 2nd International Conference on Renewable Energies Offshore, RENEW 2016). CRC Press/Balkema. https://doi.org/10.1201/9781315229256-104

Vazquez, A. ; Iglesias, G. / Capital costs in tidal stream energy projects : A site-specific approach. Progress in Renewable Energies Offshore - Proceedings of 2nd International Conference on Renewable Energies Offshore, RENEW 2016. editor / C. Guedes Soares. CRC Press/Balkema, 2016. pp. 883-890 (Progress in Renewable Energies Offshore - Proceedings of 2nd International Conference on Renewable Energies Offshore, RENEW 2016).

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title = "Capital costs in tidal stream energy projects: A site-specific approach",

abstract = "Tidal stream energy is arguably one of the most promising renewables. However, its cost is still a barrier to market penetration. In particular, capital costs are vital elements of its overall and relative economic competitiveness, representing the greater part of the levelised cost of tidal stream energy. The objective of this work is to develop a new formulation for estimating the levelised capital costs of a tidal stream farm (LCaOE), and to implement this formula in a Matlab-based tool coupled with a Navier- Stokes solver and thus deliver the spatial distribution of this cost. The LCaOE constitutes an indicator of the capital investment in relation with the revenues (energy produced) over the entire life of the tidal stream installation, and can therefore serve as a decision criterion for allocating tidal stream projects and for designating supporting mechanisms. The Bristol Channel (UK) is used as a case study to illustrate the new approach.",

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Vazquez, A & Iglesias, G 2016, Capital costs in tidal stream energy projects: A site-specific approach. in C Guedes Soares (ed.), Progress in Renewable Energies Offshore - Proceedings of 2nd International Conference on Renewable Energies Offshore, RENEW 2016. Progress in Renewable Energies Offshore - Proceedings of 2nd International Conference on Renewable Energies Offshore, RENEW 2016, CRC Press/Balkema, pp. 883-890, 2nd International Conference on Renewable Energies Offshore, RENEW 2016, Lisbon, Portugal, 24/10/16. https://doi.org/10.1201/9781315229256-104

Capital costs in tidal stream energy projects: A site-specific approach. / Vazquez, A.; Iglesias, G.
Progress in Renewable Energies Offshore - Proceedings of 2nd International Conference on Renewable Energies Offshore, RENEW 2016. ed. / C. Guedes Soares. CRC Press/Balkema, 2016. p. 883-890 (Progress in Renewable Energies Offshore - Proceedings of 2nd International Conference on Renewable Energies Offshore, RENEW 2016).

Research output: Chapter in Book/Report/Conference proceedings › Conference proceeding › peer-review

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AU - Vazquez, A.

AU - Iglesias, G.

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N2 - Tidal stream energy is arguably one of the most promising renewables. However, its cost is still a barrier to market penetration. In particular, capital costs are vital elements of its overall and relative economic competitiveness, representing the greater part of the levelised cost of tidal stream energy. The objective of this work is to develop a new formulation for estimating the levelised capital costs of a tidal stream farm (LCaOE), and to implement this formula in a Matlab-based tool coupled with a Navier- Stokes solver and thus deliver the spatial distribution of this cost. The LCaOE constitutes an indicator of the capital investment in relation with the revenues (energy produced) over the entire life of the tidal stream installation, and can therefore serve as a decision criterion for allocating tidal stream projects and for designating supporting mechanisms. The Bristol Channel (UK) is used as a case study to illustrate the new approach.

AB - Tidal stream energy is arguably one of the most promising renewables. However, its cost is still a barrier to market penetration. In particular, capital costs are vital elements of its overall and relative economic competitiveness, representing the greater part of the levelised cost of tidal stream energy. The objective of this work is to develop a new formulation for estimating the levelised capital costs of a tidal stream farm (LCaOE), and to implement this formula in a Matlab-based tool coupled with a Navier- Stokes solver and thus deliver the spatial distribution of this cost. The LCaOE constitutes an indicator of the capital investment in relation with the revenues (energy produced) over the entire life of the tidal stream installation, and can therefore serve as a decision criterion for allocating tidal stream projects and for designating supporting mechanisms. The Bristol Channel (UK) is used as a case study to illustrate the new approach.

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ER -

Vazquez A, Iglesias G. Capital costs in tidal stream energy projects: A site-specific approach. In Guedes Soares C, editor, Progress in Renewable Energies Offshore - Proceedings of 2nd International Conference on Renewable Energies Offshore, RENEW 2016. CRC Press/Balkema. 2016. p. 883-890. (Progress in Renewable Energies Offshore - Proceedings of 2nd International Conference on Renewable Energies Offshore, RENEW 2016). doi: 10.1201/9781315229256-104

Capital costs in tidal stream energy projects: A site-specific approach

Abstract

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UN SDGs

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