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Appears in Collections:Economics Journal Articles
Peer Review Status: Refereed
Title: Levelised costs of Wave and Tidal energy in the UK: Cost competitiveness and the importance of "banded" Renewables Obligation Certificates
Authors: Allan, Grant
Gilmartin, Michelle
McGregor, Peter G
Swales, J Kim
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Keywords: Levelised costs comparison
Marine energy
Support mechanisms
Issue Date: Jan-2011
Publisher: Elsevier
Citation: Allan G, Gilmartin M, McGregor PG & Swales JK (2011) Levelised costs of Wave and Tidal energy in the UK: Cost competitiveness and the importance of "banded" Renewables Obligation Certificates, Energy Policy, 39 (1), pp. 23-39.
Abstract: In this paper, publicly available cost data are used to calculate the private levelised costs of two marine energy technologies for UK electricity generation: Wave and Tidal Stream power. These estimates are compared to those for ten other electricity generation technologies whose costs were identified by the UK Government (DTI, 2006). Under plausible assumptions for costs and performance, point estimates of the levelised costs of Wave and Tidal Stream generation are £190 and £81/MWh, respectively. Sensitivity analysis shows how these relative private levelised costs calculations are affected by variation in key parameters, specifically the assumed capital costs, fuel costs and the discount rate. We also consider the impact of the introduction of technology-differentiated financial support for renewable energy on the cost competitiveness of Wave and Tidal Stream power. Further, we compare the impact of the current UK government support level to the more generous degree of assistance for marine technologies that is proposed by the Scottish government.
Type: Journal Article
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Rights: The publisher does not allow this work to be made publicly available in this Repository. Please use the Request a Copy feature at the foot of the Repository record to request a copy directly from the author. You can only request a copy if you wish to use this work for your own research or private study.
Affiliation: University of Strathclyde
University of Strathclyde
University of Strathclyde

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