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International Levelised Cost Of Energy for Ocean Energy Technologies (2015)

Date: September 28, 2015 at 17:34 GMT


Wave, Tidal Stream and Ocean Thermal Energy Conversion (OTEC) technologies have been the subject of much research both nationally and internationally. While much development has taken place, the technologies have not yet realised commercial array scale deployment.

Energy system modelling to incorporate future technological advances is based around a series of assumptions which attempt to present potential pathways for new energy technologies to emerge and become established as a part of the wider energy mix. In order to enhance existing energy system modelling, a thorough investigation of the Levelised Cost of Energy (LCOE) for wave, tidal and OTEC technologies has been undertaken.

This assessment draws upon industry’s state of the art knowledge around the costs to deploy and operate each technology in its current state, and the cost reductions that are foreseen on the route to product commercialisation. 

The OES is organised under the auspices of the International Energy Agency (IEA) but is functionally and legally autonomous. Views, findings and publications of the OES do not necessarily represent the views or policies of the IEA Secretariat or its individual member countries.