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Cost of wave energy-What does that mean? Is that all about paying some amount and getting that wave energy from a retail shop? ,Absolutely no! We often misinterpret that cost of something always lies in terms of money. Its not. Money is just a tool used for compromising the efforts taken for producing or selling or maintaining something. And this cost can never be the same for all the products or machineries and thats the reason why, prices vary with different products.
Normally when a product is sold in a shop ,the cost of that particular product is estimated based on the effort spent from its initial stage to its finishing stage including transporting charges. Similarly when the machineries are set up for making this wave energy to work efficiently, the cost is estimated from manufacturing and producing it, the number of workers required for it, their salary, maintenance of the machinery etc. Estimating the cost of wave energy plants is difficult but still the cost can be calculated roughly based on the above mentioned factors.
Unlike Wind energy, solar energy and water energy, the wave energy is not very popular among the public and also among any techies.So, the improvement in this particular kind of energy is not possible to a far extend till now, but it is making its progress at a good pace (speed) . As the name indicates, wave energy projects relates more with the water and the equipments are to be maintained with high safety due to the issues concerned with corrosion. Due to this corrosion, the question of uncertainty arises, when the cost estimation is done for this kind of projects. since, there are only few wave energy projects undertaken, the data required for the cost estimation is also very less comparably with other energy projects.
Wave energy projects , most of the times demands their machineries to be fitted inside the marine environment and so the factors of noise caused by the marine organisms are also concerned. When unbearable noise is produced by these living things, then there is a possibility that these machineries will be affected as how a glass breaks due to vibration when a heavy volume of sound is produced. The other major threat to these machineries are the flora and fauna living at different habitat. They are necessary for an eco friendly earth but aren’t advised to be good for the machineries as this would cause any malfunction in machines if not removed and cleaned periodically as how your bicycle struggles to work normally when it is covered with creepers.
Considering all these factors, now we could determine that the cost of maintaining the wave energy machineries and its operational costs are very high at present.For example a pelamis machine cost about 6.6 million dollars.Now it is possible to set up these machineries only with the help of government funding but , its an renewable energy and so there is a high possibility, that future generations would concentrate more on it and thus discovering cheaper methods to adopt these machineries.