Bringing novel offshore renewable energy technologies to market requires a strong connection between technology and commercial development.

While within a development team a shared strategy is needed to manage these interfaces the emerging industry as a whole can benefit from common practices and methods. One of the most obvious of these areas is in techno-economic analysis.

To ensure that the technology meets the expectations and  requirements in its target markets, uncertainties of the used techno-economic models should be reduced alongside the development of a new device.

In offshore projects, operational costs play a major role, not only due to their high percentage of overall project costs, but also because of the often remote location of installations, which leads to long mobilisation and travel times to perform unexpected maintenance activities.

In this master class the different approaches to modelling these costs are highlighted from both academic as well as industry perspectives, to demonstrate different approaches, models and philosophies to estimate OPEX for offshore technologies. This session has the target of comparing the advantages and down-sides of different approaches, especially with an emphasis on different stages of technical development.

This masterclass will focus on:

  • Introducing different approaches to model operational cost
  • Quantifying differences between different modelling approaches
  • Discussing suitability of different approaches for different development stages
  • Introducing a combined floating wind and wave energy O&M model
  • Integrating operational cost in techno-economic models and uncertainty analysis