We development detailed techno-economic tools for the analysis and optimization of offshore renewable energy technologies.
WavEC support in the development of a large number of marine and offshore wind technologies over the years has led to the construction of detailed techno-economic tools for the analysis and optimization of offshore renewable energy technologies. WavEC techno-economic analysis approach couples our hydrodynamic Wave-to-Wire model with engineering and economic models and data. Besides allowing the assessment of the actual levelized cost of energy (LCOE) and potential future evolution, WavEC’s models allow to understand which are the most critical design parameters and cost factors that drive the LCOE. WavEC has already performed analysis on several different wave energy converters as well as floating structures, each assessment contributing to the update and improvement of the tool.