Click X to close this note:
Wave Energy Point Absorber System COST Assumptions
Based on our work, Mermaid Power Corp. estimates the cost to produce, deploy and tie into the grid a 30 kW WEC with a 4 m diameter point absorber to be 175,000 USD.
hence 4 m dia = 12.5 sq. m = 12,500 USD / sq. m.
This is a "best guess" by an expert in the field who is essentially building one-off custom units without the benefits of a full assembly line factory. There are few, if any comparables at this time.
As the industry matures cost reductions in the range of 40% are expected.
For the calculator example we use a Wave Energy Converter installed cost of $14,000 per sq. m
A 30kW device running at peak power for 7,000 hrs per year produces 210,000 kWh / year
at $0.15/ kWh earns $ 31,500 / year
at $0.20/ kWh earns $ 42,000 / year
at $0.25/ kWh earns $ 52,500 / year
The Cost Value used in the calculator example is assumed to be the capital cost to obtain and install the system to grid tie in.
The rest of the calculations evaluate each system against this cost metric only.
The calculator does not accomodate mortgage payments to pay off loans, or costs for land rent if required (aka a fuel cost for renewables), or operations and maintenance costs, or any other ongoing or futre costs associated with the energy production unit.
Of course you can put any cost value you want in the downloaded copy of calculator and modify other parts of the calculator to suit your needs, or even modify the calculator.