Operational expenditure costs for wave energy projects and impacts on financial returns

This paper examines 'availability' and the input metrics of operational expenditure (OPEX) for wave energy projects and reports on a case study which assesses the impact of these inputs on project profit returns. Case study simulations modelled a 75 MW wave energy project at two locations; the west coast of Ireland and the north coast of Portugal. Access and availability with respect to weather windows at both locations are discussed and their impact on energy output and wave farm operations is quantified. The input metrics used to calculate OPEX of wave energy projects are defined as well as the impact of OPEX on project net present value (NPV) and internal rate of return (IRR). Results indicate that access and resultant availability factors have a significant impact on case study results by reducing energy output and correspondingly financial returns. Furthermore, the technology maturity level designated for a project also impacts on availability factors and consequently energy output and NPV. Case study profits proved to be very sensitive to annual OPEX, especially if overhaul and replacement costs were accounted for. As a result of the impact of 'availability' on project profit returns. Feed-in tariffs will need to be tailored to the location in question as well as the device technology maturity level, with case study simulations indicating that high FIT will be required to support early stage WEC projects. (C) 2012 Elsevier Ltd. All rights reserved.

On thermodynamics in the primary power conversion of oscillating water column wave energy converters

The paper presents an investigation to the thermodynamics of the air flow in the air chamber for the oscillating water column wave energy converters, in which the oscillating water surface in the water column pressurizes or de-pressurises the air in the chamber. To study the thermodynamics and the compressibility of the air in the chamber, a method is developed in this research: the power take-off is replaced with an accepted semi-empirical relationship between the air flow rate and the oscillating water column chamber pressure, and the thermodynamic process is simplified as an isentropic process. This facilitates the use of a direct expression for the work done on the power take-off by the flowing air and the generation of a single differential equation that defines the thermodynamic process occurring inside the air chamber. Solving the differential equation, the chamber pressure can be obtained if the interior water surface motion is known or the chamber volume (thus the interior water surface motion) if the chamber pressure is known. As a result, the effects of the air compressibility can be studied. Examples given in the paper have shown the compressibility, and its effects on the power losses for large oscillating water column devices.

Wave energy conversion of oscillating water column devices including air compressibility

This paper presents an investigation on air compressibility in the air chamber and its effects on the power conversion of oscillating water column (OWC) devices. As it is well known that for practical OWC plants, their air chambers may be large enough for accommodating significant air compressibility, the “spring effect,” an effect that is frequently and simply regarded to store and release energy during the reciprocating process of a wave cycle. Its insight effects on the device’s performance and power conversion, however, have not been studied in detail. This research will investigate the phenomena with a special focus on the effects of air compressibility on wave energy conversion. Air compressibility itself is a complicated nonlinear process in nature, but it can be linearised for numerical simulations under certain assumptions for frequency domain analysis. In this research work, air compressibility in the OWC devices is first linearised and further coupled with the hydrodynamics of the OWC. It is able to show mathematically that in frequency-domain, air compressibility can increase the spring coefficients of both the water body motion and the device motion (if it is a floating device), and enhance the coupling effects between the water body and the structure. Corresponding to these changes, the OWC performance, the capture power, and the optimised Power Take-off (PTO) damping coefficient in the wave energy conversion can be all modified due to air compressibility. To validate the frequency-domain results and understand the problems better, the more accurate time-domain simulations with fewer assumptions have been used for comparison. It is shown that air compressibility may significantly change the dynamic responses and the capacity of converting wave energy of the OWC devices if the air chamber is very large.