Feasibility Study and Cost-Benefit Analysis of Tidal Energy: A Case Study for Ireland
Citation:
D. Jackson, T. Persoons, Feasibility Study and Cost-Benefit Analysis of Tidal Energy: A Case Study for Ireland, Proceedings of the 4th International Conference on Ocean Energy, ICOE 2012, Dublin, 17 Oct, 2012, 1 - 6Download Item:
ICOE paper Jackson Persoons.pdf (Published (author's copy) - Peer Reviewed) 248.7Kb
Abstract:
Ireland set out to produce 33% of its electricity
demand from renewable sources by 2020 and
reduce emissions to the level of 1990 in accordance
with
the
Kyoto agreement. These targets require
investments in a diverse range of power sources.
This paper investigates if Tidal Stream Generators
(TSG
)
can become an economically viable system.
Initially a levelised cost was established for tidal and
other energies at a baseline year of 2010. Due to t
he
early stage of development of tidal energy, it is
difficult to accurately predict its future capital
investment and operational cost. For this reason
future costs were estimated for all energy forms and
a present worth was established. From this a
level
ised cost over the project lifetime was
calculated
. At this point it was found that Tidal
Energy was a competitive form of energy. The
feasibility of tidal energy was assessed using both
constant and varying Renewable Feed In Tariffs
(REFIT). Using 2010 v
alues a profit of €1.671Billion
could be achieved with a maximum investment of
€135million. However if REFIT changed to
32€/MWh after the contractual 15 years, a profit of
around €200million can be achieved with a
maximum investment of around €213million.
Author's Homepage:
http://people.tcd.ie/persoontDescription:
PUBLISHEDDublin
Author: PERSOONS, TIM
Other Titles:
Proceedings of the 4th International Conference on Ocean EnergyICOE 2012
Type of material:
Conference PaperAvailability:
Full text availableKeywords:
Tidal Energy, Feasibility, Cost BenefitLicences: