Interrelationship between variables for wave direction-dependent WEC/site-configuration pairs using the CapEx method

Renewable energies are mostly compared using the Levelised Cost of Energy (LCoE). Two major components of LCoE are of interest in this study, the others being still experimental: the Annual Energy Production (AEP) and the Capital Expenditure (CapEx). Since many Wave Energy Converters (WECs), including Wavepiston, are wave direction-dependent, this research investigates the wave direction impact on the relationship between the site-configurations (site characteristics and wave climates), WEC-configurations and power, alongside AEP and CapEx. Wave climate and WEC power are expressed in 3-dimension by adding the wave direction to the common 2-dimensional space of wave height and period. Wavepiston's WEF costs are calculated using the CapEx method. Assessing the relationship between the diverse sources of AEP/CapEx variations, enabled the development of the Cost-AEP Threshold Criterion (CAEPTC) to determine the threshold where an increase in AEP becomes negligible compared to CapEx increase. CAEPTC is perhaps a better alternative to LCoE for enhanced WEC/site-configuration pairing. Based on this Criterion and the limited dataset (a challenge to most wave companies), it was apparent that the best WEC/site-configuration pairs came from configurations with the highest yearly energy production, which is not necessarily the most expensive, and for sites with lower wave energy.