Shifting wave energy perceptions: The case for wave energy converter (WEC) feasibility at milder resources

Wave energy can provide significant benefits as renewables acquire more share in electricity production. So far, focus for the development of wave is given to areas with resources ? 25 kW/m, moderate often not considered. Furthermore, waves have larger uncertainties associated diverse portfolio converters leading higher Levelized Cost Electricity (LCoE). This study challenges notion economic viability resources, therefore methodology and results this analysis are globally applicable. Several different types suggest multi-zonal applicability, underlying dependence on resource that be harvested. It clear zones favour alternative converters, common characteristic all nominal capacity below 1 MW. Optimally selected attain factors over 30%, LCoE depending discount rate-capital pairs, mean values from 150 250/MWh lowest value 60 €/MWh. Investment amortisation also depends pairs an offshore farm able retrieve its capital 3.8 years (optimal case), 10 (average). Projects 3 Million €/MW a risk 10% viable only high performing devices 40%. • A nearshore surge device has smaller max CF but lower deviation ?27%. The highest WEC 53% difference ?50% mean. Moderate “smaller” P o ? 600 kW. Discount rates greater less than M 35%. well-matched obtain viability.