Analysis of 500MW of Wave Energy on the All Ireland Market Mr. Paul Deane, Dr. Gordon Dalton, Dr. Brian OGallachoir Economics of Ocean and Marine Renewable Energy Monday, 13th June, 2011 Energy Policy and Modelling Team, Environmental Research Institute, University College Cork 2 of ?? Overview Research Questions Methodology and Inputs Answers 3 of ?? 4 of ?? Research Questions What will be impact of 500MW of Wave Energy on the Irish System in 2020 on Wholesale electricity (SMP) System Operational Costs Ireland CO2 emissions Examine revenue from developer perspective 5 of ?? Methodology Must Compare Like with Like Installed 500MW of wave energy replaces wind capacity and generation. Assumed adequate wind and wind and wave to meet ROI RES-E target of 40% Same outages, fuel prices, technical inputs for all plant 2 Scenarios, 3 Carbon cases Caveats! 6 of ?? Inputs 7 of ?? Inputs 8 of ?? Inputs 9 of ?? Inputs 10 of ?? Inputs 11 of ?? Inputs 12 of ??Insert AuthorInsert Title of Presentation Inputs 13 of ?? Inputs 14 of ?? Installed Capacity Wind/Wave Scenario 1 No wave energy (MW) Scenario 2 with 500MW of Wave (MW) Wave ROI (MW) 0500 ROI Wind (MW) NI Wind (MW) 1030 Total Wind and Wave SEM (MW) RES % ROI*40% 15 of ?? Methodology 1 year (2020) of MIP half hourly market simulations 16 of ?? Monthly Wind/Wave Generation 17 of ?? Monthly Generation as % of Demand 18 of ?? System Marginal Price 19 of ?? SEM Total Generation Costs 20 of ?? Market Revenue 21 of ?? SEM CO2 Emissions 22 of ?? /MWh to Provide Viable Financial Scenarios 23 of ?? Summary Scorecard SMP Total Operation Costs CO2 Financial Viability 24 of ?? Thank you Paul Deane Sustainable Energy Research Group Environmental Research Institute (ERI) University College Cork Ireland (0)