Journal
RENEWABLE ENERGY
Volume 49, Issue -, Pages 101-106Publisher
PERGAMON-ELSEVIER SCIENCE LTD
DOI: 10.1016/j.renene.2012.01.054
Keywords
Tidal energy; Off-shore wind power; Economic analysis; Firm power; Security of supply
Funding
- EPSRC [EP/I027912/1, EP/K013319/1] Funding Source: UKRI
- Engineering and Physical Sciences Research Council [EP/K013319/1, EP/I027912/1] Funding Source: researchfish
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The choice of which type of electrical power generation technology to adopt is driven by a number of factors including: cost of generated electricity; responsiveness of generating plant to demand; security of supply/resource availability; environmental impact; and execution risk. Within these, tidal energy is unique as a renewable technology since it has the capability of providing predictable, firm power contributing to security of supply. This predictability gives tidal energy additional value in a future electricity market. Especially one where stochastic renewable technologies contribute to a sizable component of the power supplied; and where reserve capacity is required to maintain supply during periods of non-availability. In the shorter term, in order for tidal energy to gain commercial acceptance, tidal technologies under development need to produce electricity at a competitive price. This paper examines the drivers influencing electricity pricing; current tidal energy developments, aimed at reducing capital costs; and bench-mark these against offshore wind. (C) 2012 Elsevier Ltd. All rights reserved.
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