Overcoming the supply inconsistencies of tidal current energy conversion devices

The adoption of a sustainable approach to meeting the energy needs of society has recently taken on a more central and urgent place in the minds of many people. There are many reasons for this including ecological, environmental and economic concerns. One particular area where a sustainable approach has become very relevant is in the production of electricity. The contribution of renewable sources to the energy mix supplying the electricity grid is nothing new, but the focus has begun to move away from the more conventional renewable sources such as wind and hydro. The necessity of exploring new and innovative sources of renewable energy is now seen as imperative as the older forms (i.e. hydro) reach the saturation point of their possible exploitation. One such innovative source of energy currently beginning to be utilised in this regard is tidal energy. The purpose of this thesis is to isolate one specific drawback to tidal energy, which could be considered a roadblock to this energy source being a major contributor to the Irish national grid. This drawback presents itself in the inconsistent nature in which a tidal device generates energy over the course of a 24 hour period. This inconsistency of supply can result in the cycling of conventional power plants in order to even out the supply, subsequently leading to additional costs. The thesis includes a review of literature relevant to the area of tidal and other marine energy sources with an emphasis on the state of the art devices currently in development or production. The research carried out included tidal data analysis and manipulation into a model of the power generating potential at specific sites. A solution is then proposed to the drawback of inconsistency of supply, which involves the positioning of various tidal generation installations at specifically selected locations around the Irish coast. The temporal shift achieved in the power supply profiles of the individual sites by locating the installations in the correct locations, successfully produced an overall power supply profile with the smoother curve and a consistent base load energy supply. Some limitations to the method employed were also outlined, and suggestions for further improvements to the method were made.

Impact of wind power generation on the electricity supply industry

The objective of this dissertation is to investigate the effect wind energy has on the Electricity Supply Industry in Ireland. Wind power generation is a source of renewable energy that is in abundant supply in Ireland and is fast becoming a resource that Ireland is depending on as a diverse and secure of supply of energy. However, wind is an intermittent resource and coupled with a variable demand, there are integration issues with balancing demand and supply effectively. To maintain a secure supply of electricity to customers, it is necessary that wind power has an operational reserve to ensure appropriate backup for situations where there is low wind but high demand. This dissertation examines the affect of this integration by comparing wind generation to that of conventional generation in the national grid. This is done to ascertain the cost benefits of wind power generation against a scenario with no wind generation. Then, the analysis examines to see if wind power can meet the pillars of sustainability. This entails looking at wind in a practical scenario to observe how it meets these pillars under the criteria of environmental responsibility, displacement of conventional fuel, cost competitiveness and security of supply.

The concept of risk management in the renewable sector.

This study explores the perception of risk and the level of risk management implementation in the renewable sector. Risk management is emerging as a key issue due to the loss of confidence amongst banks, causing the attainment of financing to be difficult over the next few years. To attract financing, there is a fundamental requirement to manage risk in a way that minimizes the probability of a negative financial impact on the project. Miller and Lessard (2001) argue that successful projects are not selected but shaped with risk resolution in mind. Rather than evaluating projects at the outset based on projections of the full set of benefits, costs and risks over their lifetime, successful developers start with project ideas that have the potential of becoming viable. Therefore, this study bridges the gap that exists within the renewable sector in relation to risk management literature. This study succeeds through a detailed comparative case study analysis where two developers and two financiers were questioned through qualitative semi-structured interviews on the concept of risk management and its level implementation within the industry. It is believed that the growth in financed renewable energy projects depends on the adequate design and implementation of risk management to mitigate inherent project risks. However, this study revealed that are certain types of developers in existence within the renewable sector, which underestimate the magnitude of risk and view the development of projects as a ‘money racket’. Therefore, it can be concluded that perception of risk will also differ, causing risk and uncertainty to vary from project to project, resulting in investment reluctance to be associated with certain projects. The study originality lies in how it demonstrates to developers the concept of risk management, outlining the simplicity and benefits of implementing it in project development. Finally, this study contributes to the knowledge by enhancing the awareness and understanding of the presence and nature of risk in a RE project environment.