Techno-economic Analysis of Wave Energy Resource for India

A major challenge to the emergence and establishment of new energy technologies such as ocean wave energy is the insufficient or nonexistent database for estimating resource potential. Despite having an extensive coastline, wave energy sources are yet to be developed in India. Hence, the main objective of this study is to identify the potential sites and assess the technical and economic feasibility of harnessing wave energy along the Indian coast. Three hotspots are identified in three coastal regions (east, south and west) based on optimum hotspot index and depth constrain criterion using 19 years of high-resolution wave hindcast. Results indicate that the theoretical potential of location along the west coast (12 kW/m) is highest as compared to a hotspot near the south (8 kW/m) and east coast (6 kW/m). The technical potential and cost of electricity generation at hotspot locations are estimated and compared using four different wave energy converters (WECs): Wavedragon, Pelamis, Oceantec, and Aquabuoy. Oceantec, among all WECs, generates more power (40–57 GWh) and attain a maximum capacity factor (22–31%) as well as the most cost-effective WEC with the lowest Levelized Cost of Energy (LCOE) ranging from 354 to 505 €/MWh at all hotspots. Economic sensitivity analysis reveals that interest rate and operation and maintenance costs are the most and least sensitive parameters, respectively. Outcomes of the present study will contribute to reducing the barriers to the current knowledge of wave energy resources in India.