Techno-Economics of Offshore Renewable Energy: Wind, Wave, Energy Storage and Systems Integration

This essential reference for industry professionals, researchers, and advanced students provides a comprehensive and integrated overview of the technical and economic aspects of offshore renewable energy systems, focusing on offshore wind, wave energy, and energy storage technologies.

Gao and Ertuğrul’s emphasis on the techno-economics of offshore wind, wave energy systems, and energy storage systems enables readers to understand them in all aspects, from their core technologies, such as offshore wind technologies, wave energy converters, energy storage, and electrical conversion, to their economic feasibility, such as lifecycle cost and energy market. Because multiple critical metrics are important for evaluating the cost-effectiveness and competitiveness of these systems, the authors analyse their benefits and challenges from both technical and economic perspectives, offering readers valuable insights into how these technologies can contribute to sustainable and cost-efficient energy solutions.

The book is enriched with real-world wind and wave data, industry-aligned cost estimates, and case studies from global projects, bridging theoretical concepts with practical applications. The book presents an equilibrium among theoretical concepts, technical analysis, and economic assessment and offers a practical economic analysis of the discussed technologies. This integrated and holistic approach enables readers to gain comprehensive knowledge of ocean renewable energy and its technical aspects, challenges, and future trends. With this understanding, readers will be able to conduct techno-economic modelling to determine the feasibility of offshore ’energy farms’ and make decisions based on existing real-world case studies.

This book is an invaluable investment for industry practitioners and advanced students interested in ocean renewable energy and integrated generation technologies (with energy storage and transmission components). Policymakers and green technology financers will also benefit from the techno-economic analyses and high-level information contained within.

Qiang Gao is a Senior Energy Specialist at Aurecon Group and a Research Fellow at School of Electrical and Mechanical Engineering at the University of Adelaide. He attained his Bachelor, Master, and PhD degrees from Chongqing University, the University of Melbourne, and the University of Adelaide, respectively.

Nesimi Ertuğrul is an Associate Professor in the School of Electrical and Mechanical Engineering at the University of Adelaide. He received his BSc and MSc from Istanbul Technical University and his PhD in Electrical Engineering from Newcastle University, UK, in 1993. He is a senior member of IEEE.