Cost estimation and analysis for Pendulum Wave Energy Converters

This work concatenates and discusses various studies about Wave Energy Converters and specifically Pendulum Wave Energy Converters (PeWECs) to reach an estimation for the cost of the energy produced by this type of electricity generation technology. A sensitivity analysis is then applied so that the main factors and their influence on the final cost of energy can be comprehended. To understand the context in which PeWECs are inserted, this work presents a panorama review of the renewable energy sector. The work also contains a deep dive in the Ocean Energy and Wave Energy sectors, so that comparisons between PeWEC technology and other power converters can be made. The study of the costs by itself would not be enough to frame all the advantages and disadvantages of the PeWEC technology, so this work also includes analyses related to the performance, environmental impact, technology readiness level (TRL), synergies, market opportunities and value chain of the relevant technologies. With the costs and other factors well understood, it will be possible to make predictions to when and how the wave energy industry will become competitive and widely deployed.