Home > Research > Publications & Outputs > A comparative approach to the economic modellin...

Associated organisational unit

View graph of relations

A comparative approach to the economic modelling of a large-scale wave power scheme

Research output: Contribution to Journal/MagazineJournal articlepeer-review

Published

Standard

A comparative approach to the economic modelling of a large-scale wave power scheme. / Stallard, Tim; Rothschild, Robert; Aggidis, George.
In: European Journal of Operational Research, Vol. 185, No. 2, 2008, p. 884-898.

Research output: Contribution to Journal/MagazineJournal articlepeer-review

Harvard

APA

Vancouver

Stallard T, Rothschild R, Aggidis G. A comparative approach to the economic modelling of a large-scale wave power scheme. European Journal of Operational Research. 2008;185(2):884-898. doi: 10.1016/j.ejor.2007.01.021

Author

Bibtex

@article{3a2f3f2d394041d083c0565e6ec6c77f,
title = "A comparative approach to the economic modelling of a large-scale wave power scheme",
abstract = "Conversion of marine energy sources, including ocean waves and tidal currents, into electricity is a rapidly developing industry. Although many technologies have been proposed and some have generated electricity at full scale, it is difficult to predict which technology will be economic at large scales of installation. Several studies have been conducted which estimate the cost of electricity on the basis of schematic designs. However, each study represents a best estimate of the future cost based on current design details and direct comparison between the results of these studies is not straightforward. A methodology for directly comparing different wave energy concepts and potential locations would be beneficial to aid investment decisions. In this study we describe how the established data envelopment analysis technique could be employed for this purpose. The developed model is employed to rank the efficacy with which several types of conceptual and prototype wave energy conversion technologies generate electricity from the wave energy resource available at UK and US sites.",
keywords = "Ocean wave energy conversion, Data envelopment analysis",
author = "Tim Stallard and Robert Rothschild and George Aggidis",
year = "2008",
doi = "10.1016/j.ejor.2007.01.021",
language = "English",
volume = "185",
pages = "884--898",
journal = "European Journal of Operational Research",
issn = "0377-2217",
publisher = "Elsevier Science B.V.",
number = "2",

}

RIS

TY - JOUR

T1 - A comparative approach to the economic modelling of a large-scale wave power scheme

AU - Stallard, Tim

AU - Rothschild, Robert

AU - Aggidis, George

PY - 2008

Y1 - 2008

N2 - Conversion of marine energy sources, including ocean waves and tidal currents, into electricity is a rapidly developing industry. Although many technologies have been proposed and some have generated electricity at full scale, it is difficult to predict which technology will be economic at large scales of installation. Several studies have been conducted which estimate the cost of electricity on the basis of schematic designs. However, each study represents a best estimate of the future cost based on current design details and direct comparison between the results of these studies is not straightforward. A methodology for directly comparing different wave energy concepts and potential locations would be beneficial to aid investment decisions. In this study we describe how the established data envelopment analysis technique could be employed for this purpose. The developed model is employed to rank the efficacy with which several types of conceptual and prototype wave energy conversion technologies generate electricity from the wave energy resource available at UK and US sites.

AB - Conversion of marine energy sources, including ocean waves and tidal currents, into electricity is a rapidly developing industry. Although many technologies have been proposed and some have generated electricity at full scale, it is difficult to predict which technology will be economic at large scales of installation. Several studies have been conducted which estimate the cost of electricity on the basis of schematic designs. However, each study represents a best estimate of the future cost based on current design details and direct comparison between the results of these studies is not straightforward. A methodology for directly comparing different wave energy concepts and potential locations would be beneficial to aid investment decisions. In this study we describe how the established data envelopment analysis technique could be employed for this purpose. The developed model is employed to rank the efficacy with which several types of conceptual and prototype wave energy conversion technologies generate electricity from the wave energy resource available at UK and US sites.

KW - Ocean wave energy conversion

KW - Data envelopment analysis

U2 - 10.1016/j.ejor.2007.01.021

DO - 10.1016/j.ejor.2007.01.021

M3 - Journal article

VL - 185

SP - 884

EP - 898

JO - European Journal of Operational Research

JF - European Journal of Operational Research

SN - 0377-2217

IS - 2

ER -