MADWEC Techno-Economic Analysis: Cooperative Research and Development Final Report, CRADA Number CRD-22-23233

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. The techno-economic model, created in Microsoft Excel, estimates CapEx, OpEx, and the power performance of each power supply source. The model has a dynamic format that allows custom inputs to accommodate future changes to the systems being assessed. The theoretical annual energy production (TAEP) results for the three power sources are shown below in Table ES-1. The MADWEC generated a maximum TAEP of 2.5kWh at the far offshore location. To power the remote monitoring station, a total of 176 to 415 MADWECs would be required, depending on the location. To power the AUV charging station, a total of 329 to 777 MADWECs would be required, depending on location. The solar buoy, with just a single 160-Watt PV solar panel, produces a TAEP of 121kWh at the far offshore location. The solar buoys are customized to match the solar resource and load; therefore, the number of PV solar panels on each buoy varies depending on the location for each scenario. For the battery scenario, one battery can provide 30.7kWh of energy throughout the year. Assuming a second set of batteries is purchased so that one set can recharge while the other is providing power, a total of 30 batteries is required for the offshore monitoring system, while 56 batteries are required for the AUV charging system. The total number of power generation devices required for each end-use scenario is shown below in Figure ES- 1. The total CapEx of the arrays (sized to meet at least 100% of the end-use case power and energy demands), ranged between $3 million-$21 million, with the MADWEC power source scenarios being on average $10 million more than the other power source scenarios.