Techno-Economic modelling of wave energy technologies: towards increasing fidelity on LCOE estimates and long- term projections

The economic viability of wave energy converters is perceived as one of the main risks of the wave energy sector. A transparent approach to the economic modelling is pursued, and where uncertainties domain a sensitivity analysis to key parameters is conducted. This allows quantifying sources of uncertainty, estimating potential cost-reduction pathways, and informing decisions at design level.

Long-term projections are normally enabled through cost-cutting effects obtained through innovations and economies of scale. The commercial and financial performance of a technology is also important to the calculation of the business case for customers and investors.

In collaboration with Carnegie we are responsible for the Financial Modelling and Commercial Analysis of Phases I, II and III of the EuropeWave Programme – ACHIEVE Project.