Blue Growth Development in the Mediterranean Sea: Quantifying the Benefits of an Integrated Wave Energy Converter at Genoa Harbour

Abstract

Coastal resilience is often achieved by traditional civil engineering projects, such as dikes and breakwaters. However, given the pressing nature of Climate Change, integrating energy converters in “classical” structures can enhance innovation, and help in pursuing decarbonisation targets. In this work, we present an alternative for integrating a wave energy converter at a vertical wall breakwater, following past successful projects. Our approach is based on a high spatio-temporal wave dataset to properly quantify expected energy production, but also focus on the hours for which other time-dependent renewables cannot produce, i.e., solar. Our analysis evaluates the power performance and assesses the economic parameters and viability of the proposed installation. Our integrated solution shares the main capital with the breakwater and can produce from 390 MWh–2300 MWh/year, displacing more than 1760 Tn of CO2 annually. In addition to power generated, we estimated the payback period for most cases being approximately 10–15 years, but when accounting avoided oil CO2 emissions, the installation is highly attractive with payback in less than 9 years, with favourable financing indicating 3.4 years.

Keywords

• wave energy
• levelised cost of energy
• payback period
• genoa harbour