1. Analysis of 500MW of Wave Energy on the All Ireland Market Mr. Paul Deane, Dr. Gordon Dalton, Dr. Brian O’Gallachoir Economics of Ocean and Marine Renewable Energy Monday, 13th June, 2011 Energy Policy and Modelling Team, Environmental Research Institute, University College Cork

2. 2 of ?? Overview Research Questions Methodology and Inputs Answers

3. 3 of ??

4. 4 of ?? Research Questions What will be impact of 500MW of Wave Energy on the Irish System in 2020 on –Wholesale electricity (SMP) –System Operational Costs –Ireland CO2 emissions Examine revenue from developer perspective

5. 5 of ?? Methodology Must Compare Like with Like –Installed 500MW of wave energy replaces wind capacity and generation. –Assumed adequate wind and wind and wave to meet ROI RES-E target of 40% –Same outages, fuel prices, technical inputs for all plant –2 Scenarios, 3 Carbon cases –Caveats!

6. 6 of ?? Inputs

7. 7 of ?? Inputs

8. 8 of ?? Inputs

9. 9 of ?? Inputs

10. 10 of ?? Inputs

11. 11 of ?? Inputs

12. 12 of ??Insert AuthorInsert Title of Presentation Inputs

13. 13 of ?? Inputs

14. 14 of ?? Installed Capacity Wind/Wave Scenario 1 No wave energy (MW) Scenario 2 with 500MW of Wave (MW) Wave ROI (MW) 0500 ROI Wind (MW) 40763521 NI Wind (MW) 1030 Total Wind and Wave SEM (MW) 51065051 RES % ROI*40%

15. 15 of ?? Methodology 1 year (2020) of MIP half hourly market simulations

16. 16 of ?? Monthly Wind/Wave Generation

17. 17 of ?? Monthly Generation as % of Demand

18. 18 of ?? System Marginal Price

19. 19 of ?? SEM Total Generation Costs

20. 20 of ?? Market Revenue

21. 21 of ?? SEM CO2 Emissions

22. 22 of ?? €/MWh to Provide Viable Financial Scenarios

23. 23 of ?? Summary Scorecard SMP Total Operation Costs CO2 Financial Viability

24. 24 of ?? Thank you Paul Deane Sustainable Energy Research Group Environmental Research Institute (ERI) University College Cork Ireland + 353 (0)21 4901959 jp.deane@ucc.ie http://www.ucc.ie/en/serg/