An advanced geospatial assessment of the Levelised cost of energy (LCOE) for wave farms in Irish and western UK waters

With the climate crisis becoming an ever-growing concern, Europe is striving to reduce its energy related greenhouse gas emissions. On the western edge of this continent, wave energy is a logical future clean energy consideration for Ireland and the U.K. to help realise ambitious targets recently be...

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Veröffentlicht in:Renewable energy Jg. 221; S. 119864
Hauptverfasser: O'Connell, Ross, Kamidelivand, Mitra, Furlong, Rebecca, Guerrini, Marco, Cullinane, Margaret, Murphy, Jimmy
Format: Journal Article
Sprache:Englisch
Veröffentlicht: Elsevier Ltd 01.02.2024
Schlagworte:
Atlantic Ocean
clean energy
climate
coasts
commercialization
energy
geospatial data processing
GIS
greenhouse gases
Ireland
issues and policy
Scotland
Techno-economics
uncertainty
water power
Wave energy
Scotland
Atlantic Ocean
Ireland
GIS
Techno-economics
Wave energy
ISSN:0960-1481
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Zusammenfassung:With the climate crisis becoming an ever-growing concern, Europe is striving to reduce its energy related greenhouse gas emissions. On the western edge of this continent, wave energy is a logical future clean energy consideration for Ireland and the U.K. to help realise ambitious targets recently being set in policy. Yet to reach commercialisation, there is still much uncertainty surrounding the financial feasibility of wave farms in the region of interest, and where exactly the most feasible locations are likely to be. The Levelised Cost of Energy (LCOE) is the most commonly used metric in determining the financial feasibility of an energy project, and it is very much site dependant when it comes to wave energy, varying considerably from one location to the next. This study uses the geographic approach to address this and estimate the LCOE of wave energy farms in the region, considering different technology types and the geospatially variable inputs at play. The results reveal areas of high project feasibility in the Atlantic Ocean (off the west coast of Ireland), the Celtic Sea and the Inner Seas off the West Coast of Scotland (ISWCS), with LCOE values below 110€/MWh along the coasts of these areas.
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ISSN:0960-1481
DOI:10.1016/j.renene.2023.119864