TIGER Report: Tidal Stream Site Cost Reduction Report
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The aim of this study is:
To showcase the leading cost reduction drivers in the tidal stream sector, by describing current state of the art research and quantifying the impact of these drivers on levelized cost of energy LCOE.
The following objectives were devised to achieve this:
• Identify as many cost reduction drivers in the TSE industry as possible, through literature review and engagement with industry experts.
• Devise a short list of innovations to analyse.
• Create a techno-economic model in Microsoft Excel to examine the impact of different cost drivers.
• Devise a base case 2022 tidal farm, assuming an appropriate technology, and devise representative project costs from available data.
• Quantify the impact of each selected driver on LCOE to allow them to be compared
• Evaluate the cost reduction drivers in the context of the six tidal stream sites currently being supported as part of the TIGER project.
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