Comparative analysis of marine current power and wave power in France and UK: how much support will be required to reach grid parity, and what rate of return can be expected?
Independent thesis Advanced level (degree of Master (Two Years)), 20 credits / 30 HE creditsStudent thesis
This paper begins with a comparative analysis of the different opportunities available to harness energies of the ocean. We select two of them – marine currents and wave energy – to calculate levelized costs of generation, and predict costs in 2050 using the learning rate method. These cost estimates are challenged with sensitivity analysis run on the different parameters, and benchmarked with comparable industries. We leverage our models to compute grid parity year for France and UK, and conclude it will be reached for all technologies in both countries between 2040 and 2050. Further, we assess the amount of financial support that will be required from both countries and for each technology to reach grid parity. Overall, France will need to invest €6bn and UK €9.7bn by 2050. Lastly, we estimate the return, in the broad sense of the term, which can be expected in each industry according to three dimensions: value of fuel replaced, value of emissions avoided, and value of job creation. This gives us a sense of how profitable it will be for both countries to subsidize these nascent industries. Wave energy is expected to bring 4.1% return by 2050 in UK, marine currents 1.7% return, wave energy -0.1% return in France, and marine currents -2.5%.
Place, publisher, year, edition, pages
wave tidal marine power energy policy France UK LCOE
Engineering and Technology
IdentifiersURN: urn:nbn:se:kth:diva-150573OAI: oai:DiVA.org:kth-150573DiVA: diva2:744066
Master of Science - Sustainable Energy Engineering