PROJECTS

Reducing Uncertainty in Energy Yield Assessments for Wave and Tidal Projects

A standardised approach to assessing and reducing uncertainty associated with energy yield assessment.

The Project

Until now, there has been no standardised methodology or common terminology for energy yield and uncertainty assessments associated with wave and tidal energy projects.

Together with Frazer-Nash consultancy, we have produced a standardised approach to assessing and reducing the uncertainty associated with energy yield assessment which will ultimately help to reduce risk and make projects more attractive to investors.

The Outcomes

The outputs from this project will bring substantial industry benefits, including:

• Increased understanding amongst project developers of the uncertainties (and therefore risks) associated with projects to help them prioritise uncertainty-reducing activities.
• Helping project financiers to understand the importance and potential scale of uncertainties and inform discussions on financial risk.
• Enabling researchers to prioritise research activities to help reduce these risks.

The project outputs and reference documents are now available for download.

Framework for the Categorisation of Losses and Uncertainty

Wave and Tidal Energy Yield Uncertainty – Literature Review

Wave and Tidal Energy Yield Uncertainty – Reference Document

Uncertainty Management Tool