Fred. Olsen believes that cost of electricity produced from ocean waves needs to come down significantly before any market penetration for onshore grid export is possible.
However, we believe there are applications where energy produced from ocean waves can be the preferred solution. A consumer of 100W to 100kW located at a remote location far offshore would be such an application. This includes oceanographic instrumentation, offshore telecom equipment, AUV recharge stations, monitoring sensors for abandoned wells, active sonar buoys etc.
Our systems can be sized and configured according to available wave climate, power load requirement and installation options.
And operated at any depth.
In such case water depth and weather conditions would be challenging for existing wind turbines, while power consumtion and reliability requirement would disqualify PV/solar panels.
Hence we have, over the last few years, steered our development towards autonomously operated technology with high reliability that can be configured to average outputs up to 100kW, depending on the available wave resource.
An onboard energy storage provides capacity to deliver power also during periods where sea states are too low for the machinery to produce net energy surplus (Hs<0,5m for current Lifesaver system). The graphs below summarize the dimensioning criteria for such storage from simulation with sea state scatter from the WaveHub site outside UK.