ABSTRACT
One aspect of WEC technology with high risk and uncertainty is operations and maintenance (O&M). Estimating the lifetime Operational Expenditure (OPEX) of wave energy array projects is vital as these costs are significant in calculating the Levelised Cost of Energy (LCOE) of devices. LCOE is one of the metrics used to determine the economic viability of a WEC. Therefore, careful planning of O&M strategies is required to minimise these costs and make the technology attractive to private investors. Research implemented within the Industrial Doctoral Centre for Offshore Renewable Energy (IDCORE) seeks to address the issue of uncertainty surrounding lifetime costs and maintenance planning of off-grid wave energy
1 INTRODUCTION
1.1 Wave energy technology
There is huge potential for wave energy to be a significant contributor to clean, renewable electricity production worldwide. It has been estimated that up to 13GW of Wave Energy Converters (WECs) could eventually be installed in UK waters (Boud, 2012). However, the wave energy sector has so far struggled to gain a foothold in the commercial offshore renewable energy market dominated by the offshore wind industry. There have been several high profile casualties on the route to developing a grid-connected WEC, such as the demise of Scottish wave energy developers Pelamis Wave Power (BBC, 2014) and Aquamarine Power (BBC, 2015). The Scottish Government reaffirmed its commitment to the sector with the creation of funding body Wave Energy Scotland (WES) in 2015. The WES programme seeks to build upon past experience and address the challenges facing the sector in order to de-risk WEC technology and attract private investment, paving the way for commercial development.
