On the economic feasibility of tidal range power plants

The potential energy associated with tides presents a sustainable energy resource that remains largely untapped. Uncertainties on the economic case of tidal range power plants are a known obstacle. Research on tidal range structures suggests energy yield may be maximized through operation strategy optimization, and that impacts can be mitigated through design optimization. While instructive, these perspectives alone are insufficient to support the feasibility of individual projects. We integrate operation optimization and hydrodynamic impact analyses within a cost evaluation framework for tidal range structures focusing on capital costs (CAPEX) and levelized cost of energy (LCOE). Once benchmarked against 11 historic proposal cost projections, we perform a redesign of 18 tidal power plants to deliver a comprehensive comparative basis across a diverse range of sites in the UK. Tidal power plant operation is simulated in regional shallow-water equation models, acknowledging tide variability. The cost evaluation framework demonstrates the impact of geospatial variations on key cost components. The redesign process indicates transformative implications in that equivalent and lower LCOE values can be achieved for designs at a substantially lower CAPEX. Given how the latter hinder development, we show how tidal range schemes could be far more economically feasible than commonly perceived.