Economic viability of floating wave power farms considering the energy generated in the near future

Laura Castro-Santos, Almudena Filgueira-Vizoso, Xurxo Costoya, Beatriz Arguilé-Pérez and Américo Soares Ribeiro

Renewable Energy, 2024, vol. 222, issue C

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 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0960148124000120
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:renene:v:222:y:2024:i:c:s0960148124000120

DOI: 10.1016/j.renene.2024.119947

Access Statistics for this article

Renewable Energy is currently edited by Soteris A. Kalogirou and Paul Christodoulides

More articles in Renewable Energy from Elsevier
Bibliographic data for series maintained by Catherine Liu ().