Wave Energy Converters pose a unique engineering challenge, with complex and innovative technology, to be deployed in hostile locations with limited access opportunities. Reliability is a concern, given that failures may occur in sea states which give peak output, but which could delay repair interventions, leading to significant revenue losses. Reliability can be viewed as an economic question, in which the initial capital costs of a wave energy development, and the available energy yield at its deployed location, are balanced against the future operating and maintenance costs, and revenue losses from breakdowns. This paper describes a model based on real wave data, in which the interaction of the wave resource, capital, operating and maintenance costs, and different levels of reliability and maintainability is examined to determine their effect on the Levellised Cost of Energy from a wave farm. © 2010: The Royal Institution of Naval Architects.
|Title of host publication||RINA, Royal Institution of Naval Architects - Marine Renewable and Offshore Wind Energy - Papers|
|Number of pages||10|
|Publication status||Published - 2010|
|Event||Marine Renewable and Offshore Wind Energy - London, United Kingdom|
Duration: 21 Apr 2010 → 23 Apr 2010
|Conference||Marine Renewable and Offshore Wind Energy|
|Period||21/04/10 → 23/04/10|