An economic comparison of wind, solar, and ocean thermal energy in the Federated States of Micronesia
Year: 2025
Type: article
Abstract: This study provides a thorough economic analysis which compares different renewable energy sources—wind, solar, and open-cycle ocean thermal energy conversion (OC-OTEC)—for generating electric power and freshwater in the Federated States of Micronesia. The novelty of the present work is in developing empirical models for the capital cost as a function of the installed capacity for wind, photovoltaic (PV), and OTEC systems. The analysis incorporates the latest power plant expenses and predicts price variations by considering factors such as capacity and time. In addition, a streamlined method for calculating the necessary battery storage capacity for daily variations in wind and PV solar energy was developed. The OC-OTEC plant was chosen as a case study due to its ability to simultaneously generate energy and produce freshwater, which is crucial for satisfying the energy and freshwater needs of numerous island populations. To provide a fair and equitable comparison, reverse osmosis desalination equipment is integrated into the wind and PV systems. The results are presented using the levelized cost of electricity associated with producing 20 MW of net electric power and 22,700 m3/day of freshwater and return on investment metrics. OC-OTEC emerges as the most economically advantageous option.
Source: Academia Engineering
Authors: Bipin Kafle, Khaled A. Sallam, Geir Hareland
Institution: Oklahoma State University
Language: English
Subfield: Energy Engineering and Power Technology
Field: Energy
Domain: Physical Sciences
Open Access status: diamond
OpenAlex ID: W4411002462