Wave Power Potential Reduction in Cost of Energy

EPRI estimates of the cost of energy (COE) for the first commercial-scale wave power facilities in the United States range from about 10¢/kWh to 39¢/kWh, based primarily on the wave energy potential and operating and maintenance costs at the various locations that were considered. These costs do not compare favorably with some other forms of renewable energy such as hydropower, but they are somewhat less than the costs for early commercial wind energy devices. EPRI estimates indicate that the COE for wave energy facilities will decrease along a learning curve that depends on knowledge gained with each cycle of device improvement and operating experience. The learning curve for wave energy devices is projected to fall below the wind energy learning curve. Both curves are a function of installed capacity.

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