Document Type

Closed Project

Publication Date

Fall 2012


Robert Dryden

Course Title

Engineering Economic Analysis

Course Number

ETM 535/635


Ocean energy resources -- Economic aspects, Renewable energy sources, Ocean wave power -- Economic aspects


The economic costs of the Aquabuoy and the Powerbuoy wave energy projects are compared using publicly available information and the Economic Assessment methodology for Offshore Wave Energy Plants published by the Electric Power Research Institute (EPRI) in 2004. [1]. This methodology focuses on two valuation methods: the Utility Generator Model (UG) and the Non Utility Generator (NUG) model. The primary difference between these two models involve the cost of capital and the expected rate of return. Given that there is little difference between the two models when comparing two similar power generators located in the same locations (with presumptively the same power source), the Utility Generator Model is used for comparative purposes.

Based on this analysis, it is clear that Powerbuoy provides a better economic return on investment for the operator of this power generator. This analysis is based purely on the financial analysis and excludes such factors as the effect of local manufacturing.


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