MADWEC Techno-Economic Analysis: Cooperative Research and Development Final Report

Abstract

The objective of this project was for the facility to conduct a techno-economic assessment of the Maximal Asymmetric Drag Wave Energy Converter (MADWEC), developed by the University of Massachusetts Dartmouth (UMass Dartmouth), used for powering remote monitoring and AUV charging systems compared to other existing power supply options. The assessment estimates capital expenditures (CapEx), operational expenditures (OpEx), and power performance for 18 scenarios with the purpose of identifying key cost drivers, comparing total system cost, and comparing the power performance of the power supply options in terms of required installed capacity and estimated theoretical annual energy performance. The scenarios include two end-uses: (1) AUV charging and (2) offshore remote monitoring); three power sources: (1) MADWEC), (2) photovoltaic (PV) solar buoy, (3) and traditional battery swapping); and three locations; (1) nearshore, (2) far-offshore, and (3) high-latitude). In addition, other project goals included developing high level installation, operation, and maintenance plans for each scenario.