The potential of Wave Energy Converters in the Galapagos islands
Esteban Meneses, Rafael Soria, J. Portilla, Wilson Guachamín-Acero, Ricardo Álvarez-Salas, Rubén Paredes, Mijaíl Arias-Hidalgo
Abstract
This study investigates the potential of Wave Energy Converters (WECs) technology in the Galapagos Islands. Despite the region’s high wave energy potential (262 TWh/year of gross potential and 25TWh/year of sustainable potential), the current high cost of WEC technology limits its economic competitiveness compared to mature renewables like solar and wind. Our analysis, using the OSeMOSYS model, reveals that decarbonizing the Galapagos’ power sector with solar and wind is feasible and cost-effective. However, deploying WECs is even more expensive. Initially, WECs have the highest levelized cost of electricity (LCOE) (43 ct.USD/kWh in 2030), but this decreases by 2050, ending up at 26 ct.USD/kWh, a value below the benchmark for fossil thermal power plants without fuel subsidies. Deploying WECs, together with solar and wind technologies may contribute for diversifying the Galapagos’ power system, reducing fossil fuel reliance, and mitigating climate change impacts.