An ES-Wave is a very versatile and well optimised machine full of redundancies for uptime and performance.
A Renewable Energy Hub (REH) is the target of construction for the ES-Wave. This provides many economic advantages over a device alone, such as:
Increases the production rate
Increases the performance weight wise
Reduce the operation risk
Reduce the cost of interventions
Have a much better integration
Reduce considerably the CAPEX (CApital EXpenditures) and the OPEX (OPerational EXpenditures).
The reduction in CAPEX comes fundamentally from the fact that our device is towed - not carried - and therefore it needs fewer resources such as specialised ships but also from the possibility of repurposing existing assets such as O&G jackets and pipelines.
The reduction in OPEX come with the large amount of redundancies (there are redundancies almost in any single system that is incorporated) and the very specialised control system.
LCOE is the quotient between all the economic costs of generating energy divided by all the energy produced along the life of the asset (it is measured in £/MWh). Having lower CAPEX and OPEX decreases the numerator of the fraction and therefore the LCOE associated to the technology.
Nevertheless, it is not all about costs but profit and having two revenue streams increases the income associated to the business resulting in a more profitable activity.
The most interesting economic part comes with the SCOE (Social Cost Of Energy) though. The cost of energy is associated to other factors associated with the benefits to society (Subsidies, Transmission costs, Variability costs, Geopolitical Risk and Environmental Impacts, and Social and Employment effects)
Functionally wise some devices will provide power to the customer (normally the National Grid), and others will charge the rest. The charged devices can then used to optimise the Grid integration and to balance periods when the resource is not available, providing the first renewable energy device that can be delivering power on a 24/7 basis.
In a lesson well learned we should conclude saying that Value is not just Price and if we wanted to put this into context, let's think in the very low price of plastics and the enormous amount of money that is meant to be needed to collect all the plastic from our oceans.