Minimizing Cost In A 100% Renewable Electricity Grid: A Case Study Of Wave Energy In California

Ryan Coe, G. Lavidas, Giorgio Bacelli, Peter H. Kobos, Vincent S. Neary

Research output: Chapter in Book/Conference proceedings/Edited volumeConference contributionScientificpeer-review

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Abstract

Wave energy converters have yet to reach broad market viability. Traditionally, levelized cost of energy has been considered the ultimate stage gate through which wave energy developers must pass in order to find success (i.e., the levelized cost of wave energy must be less than that of solar and wind). However, real world energy decisions are not based solely on levelized cost of energy. In this study, we consider the energy mix in California in the year 2045, upon which the state plans to achieve zero carbon energy production. By considering temporal electricity production and consumption, we are able to perform a more informed analysis of the decision process to address this challenge. The results show that, due to high level of ocean wave energy in the winter months, wave energy provides a valuable complement to solar and wind, which have higher production in the summer.Thus, based on this complementary temporal aspect, wave energy appears cost-effective, even when the cost of installation and maintenance is twice that of solar and wind.
Original languageEnglish
Title of host publicationProceedings of the ASME 2022 41st International Conference on Ocean, Offshore and Arctic Engineering
Subtitle of host publicationOMAE2022 June 5-10, 2022, Hamburg, Germany
PublisherThe American Society of Mechanical Engineers (ASME)
Number of pages8
Publication statusPublished - 2022
EventASME 2022 41st International Conference on Ocean, Offshore and Arctic Engineering, OMAE 2022 - Congress Center Hamburg, Hamburg, Germany
Duration: 5 Jun 202210 Jun 2022
https://event.asme.org/OMAE-2022

Conference

ConferenceASME 2022 41st International Conference on Ocean, Offshore and Arctic Engineering, OMAE 2022
Abbreviated titleOMAE 2022
Country/TerritoryGermany
CityHamburg
Period5/06/2210/06/22
Internet address

Bibliographical note

Green Open Access added to TU Delft Institutional Repository ‘You share, we take care!’ – Taverne project https://www.openaccess.nl/en/you-share-we-take-care Otherwise as indicated in the copyright section: the publisher is the copyright holder of this work and the author uses the Dutch legislation to make this work public.

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