A techno-economic analysis of tidal energy technology |
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| Affiliation: | 1. Nautricity Ltd, 5 St. Vincent Place, Glasgow G1 5GH, UK;2. Energy Systems Research Unit, Department of Mechanical Engineering, University of Strathclyde, Glasgow G1 1XJ, UK;1. Department of Biology, University of Victoria, Victoria, British Columbia, Canada V8P 5C2;2. School of Natural and Built Environment, Queen''s University Marine Laboratory, 12-13 The Strand, Portaferry BT22 1PF, Northern Ireland, UK;1. Regeneris Consulting Ltd, Manchester Office, 4th Floor Faulkner House, Faulkner Street, Manchester M1 4DY, UK;2. Welsh Economy Research Unit, Cardiff Business School, Colum Drive, Cardiff CF10 3EU, UK;1. The University of Queensland, School of Civil Engineering, St Lucia, 4072, Queensland, Australia;2. The University of Tasmania, Australian Maritime College, Maritime Way, Newnham, 7250, Tasmania, Australia;3. CSIRO Energy Centre CSIRO, Newcastle, 2304, New South Wales, Australia;1. University of Santiago de Compostela, EPS, Hydraulic Eng., Campus Univ. s/n, 27002 Lugo, Spain;2. University of Plymouth, School of Marine Science and Engineering, Drake Circus, Plymouth PL4 8AA, UK |
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| Abstract: | The choice of which type of electrical power generation technology to adopt is driven by a number of factors including: cost of generated electricity; responsiveness of generating plant to demand; security of supply/resource availability; environmental impact; and execution risk. Within these, tidal energy is unique as a renewable technology since it has the capability of providing predictable, firm power contributing to security of supply. This predictability gives tidal energy additional value in a future electricity market. Especially one where stochastic renewable technologies contribute to a sizable component of the power supplied; and where reserve capacity is required to maintain supply during periods of non-availability. In the shorter term, in order for tidal energy to gain commercial acceptance, tidal technologies under development need to produce electricity at a competitive price. This paper examines the drivers influencing electricity pricing; current tidal energy developments, aimed at reducing capital costs; and bench-mark these against offshore wind. |
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