| dc.description.abstract | This master thesis attempts to answer the following research question: How is the Levelised Cost of Energy for a novel floating photovoltaic concept in the North Sea determined?. This study contributes towards the existing research gap, by conducting an economic assessment of novel FPV concepts located offshore under uncertainties.
Offshore floating photovoltaic systems appear as a promising technology to incorporate solar energy in distinct offshore areas. In recent years, a few novel floating photovoltaic systems have been proposed with relatively low technology readiness levels. Among them, an offshore floating photovoltaic concept proposed by Jiang et al. (Jiang et al., 2023) has the features of lightweight semi-submersible floats with soft rope connections. This concept demonstrates promising performance in harsh offshore environments. Despite the technological advances, the life cycle cost of this concept is not clear, and there are large uncertainties as to which parameters throughout the life cycle would play an important role. To address this challenge, this study considers two potential offshore sites in Norway and carries out a comprehensive evaluation of the Levelised Cost of Energy for a 6 MW floating photovoltaic system.
Firstly, the life cycle costs and annual energy production have been estimated, to determine the Levelised Cost of Energy for a novel floating photovoltaic system located in Sørlige Nordsjø II and Utsira Nord, with the respective results of 256.7 e/MWh and 287 e/MWh. Based on the investigation, the procurement cost of floaters makes up 51% of the total capital expenditure. Secondly, the discount rate, lifespan, annual energy production, and distance to infrastructure are identified as the most influencing factors of the Levelised Cost of Energy. Locating the floating photovoltaic close to existing power infrastructure is recommended in regard to reduced costs. We observed that the estimated Levelised Cost of Energy is reasonable compared with relatable offshore floating photovoltaic concepts, that reporting a Levelised Cost of Energy within the range of 160 to 354 e/MWh. Furthermore, the uncertainty analysis displays that there is a 90% probability that the Levelised Cost of Energy falls within the range of 203.21 and 407.14 e/MWh. | |