Bringing Structure to the Wave Energy Innovation Process with the Development of a Techno-Economic Tool

Current wave energy development initiatives assume that available designs have the potential for success through continuous learning and innovation-based cost reduction. However, this may not be case, winning technologies been overlooked. The scenario creation tool presented in paper provides a structured method earliest stages of design technology development. core function is to generate rank scenarios Wave Energy Converter (WEC) attributes inform user on areas parameter space are most likely yield commercial success. This techno-economic uses innovation approach identify commercially attractive technically achievable scenarios, with scoring system based their power performance costs. done by leveraging data from state-of-the-art converters identifying theoretical limits define thresholds. As result, list scored solutions obtained depending resource level, converter hull shape, size, material, degree freedom extraction, efficiency. can used support private public investors strategy future funding calls, developers researchers new avenues innovation.