EVOLVEEconomic Value of Ocean Energy
EVOLVE was a 24 month project examining the overall market value of the inclusion of ocean energy in European energy systems. The project aims to produce quantifiable outputs to illustrate the benefits associated with integrating ocean energy in low carbon energy systems across the regions of north west Europe. Continued engagement throughout the project will ensure that the results produced are relevant and useful to a wide range of stakeholders including technology and project developers, regulators, policy makers, electricity system operators and project investors. EVOLVE is funded by Scottish Enterprise, Fundação para a Ciência e a Tecnologia and the Swedish Energy Agency with co-funding from the OCEANERA-NET COFUND (via the European Commission under Horizon 2020).
The Policy and Innovation Group’s role in EVOLVE is work package leader of the detailed economic energy modelling. Our team’s experience in energy systems modelling will be utilised to create a dispatch model representing future energy scenarios in Great Britain. The impact of ocean energy deployments will be quantified in terms of marginal electricity prices, curtailed volumes, balancing costs and system security indices. As work package leader, the policy and innovation group will also support modelling of further European regions by RISE, WavEC and Aquatera. For more information, see the project website evolveenergy.eu, the journal paper describing the GB model, and the technical note below. |

The system benefits of ocean energy to European power systems
EVOLVE Consortium. January 2023.
This technical note details the country-scale power system modelling analysis performed through the OCEANERA-NET EVOLVE project. The project aims to develop an understanding of the system benefits of ocean energy within future high-renewable power systems, using the analysis of production, supply and demand profiles and credible future energy supply scenarios. Economic dispatch models were built representing three regions: Great Britain, Ireland,
and Portugal, at three different points in time: using established future energy scenarios for 2030, 2040, and 2050. The proportion of wave and/or tidal stream generation within each scenario has been varied, whilst keeping the total available renewable energy constant, to quantify any potential system benefits purely from the inclusion of ocean energy within the generation mix.
It was found that including ocean energy (both wave and tidal stream) within future European energy mixes consistently produces system benefits over all scenarios studied for all three regions.
Download the EVOLVE technical note here to find out more.
EVOLVE Consortium. January 2023.
This technical note details the country-scale power system modelling analysis performed through the OCEANERA-NET EVOLVE project. The project aims to develop an understanding of the system benefits of ocean energy within future high-renewable power systems, using the analysis of production, supply and demand profiles and credible future energy supply scenarios. Economic dispatch models were built representing three regions: Great Britain, Ireland,
and Portugal, at three different points in time: using established future energy scenarios for 2030, 2040, and 2050. The proportion of wave and/or tidal stream generation within each scenario has been varied, whilst keeping the total available renewable energy constant, to quantify any potential system benefits purely from the inclusion of ocean energy within the generation mix.
It was found that including ocean energy (both wave and tidal stream) within future European energy mixes consistently produces system benefits over all scenarios studied for all three regions.
Download the EVOLVE technical note here to find out more.
This project has received funding from the OCEANERA-NET COFUND.
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