What is the problem/issue being addressed?
Despite its attractive characteristics, wave power entails significant challenges that have so far prevented it from becoming a mainstream energy source. To date the industrialization of wave energy has been very limited due to technical challenges and limitations in scale resulting in comparatively high cost of electricity production. There are numerous types of wave energy converters (WEC) in development designed to unlock this potential, but the oscillating wave surge converter technology type (OWSC) has distinct advantages over all other solutions and represents the most advanced technical solution for the industrialization of wave energy.
Why is it important for society?
The largest benefit from the installation of a MegaRoller WEC project is the production of clean, renewable electricity that will be fed into the local electricity grid or used for the production of hydrogen or freshwater. In addition, the wave resource can balance lower solar resource in the night time or during winter season in the northern hemisphere.
MegaRoller WEC’s can supply power for industries and enable smoother transition of industries to fully renewable-based operation. For example, water desalination and green hydrogen production industries benefit from the high predictability and consistency of power supply that MegaRoller WEC’s provide.
Significant elements of the MegaRoller WEC device can be manufactured locally through standard steel and concrete manufacturing processes, thereby providing jobs to the local population. Assuming 10 jobs per MW, the deployment of MegaRoller power plants can generate 6,000 jobs by 2030 (600 MW) and 400,000 jobs by 2050 (40,000 MW) in Europe only. These jobs will be centred on the location where the devices are deployed i.e. European coasts, however suppliers in many other European countries will also benefit.
The carbon impact from a MegaRoller WEC device has been assessed to be 33.8g CO2e/kWh, well
below the thresholds set by the EU’s Sustainable Finance Taxonomy. This allows projects using the MegaRoller technology to receive funding from sustainable investment funds and similar facilities.
What are the overall objectives?
The MegaRoller project focused on the design, construction and validation of a high performance, cost-efficient and reliable PTO. The project aimed at reducing the levelized cost of energy (LCOE) of the system below €150 MWh, for the first 10 units deployed, by increasing nominal device capacity, reducing the number of components, increasing the PTO reliability (lower CAPEX, OPEX and higher availability) and reducing power conversion losses.