Profitability Assessment for a Tidal Power Plant at the Mouth of Hvammsfjörður, Iceland
With a maximum current speed of 8.7 meters per second, the mouth of Hvammsfjörður is currently at the forefront of sites under consideration that have potential of utilizing a tidal current conversion technology for electricity generation. With research completed and a model created of the area, cal...
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ftskemman:oai:skemman.is:1946/7430 2023-05-15T16:47:03+02:00 Profitability Assessment for a Tidal Power Plant at the Mouth of Hvammsfjörður, Iceland Níels Sveinsson 1972- Háskóli Íslands 2011-01 application/pdf http://hdl.handle.net/1946/7430 en eng http://hdl.handle.net/1946/7430 Viðskiptafræði Orkuframleiðsla Sjávarfallaorka Tidal power Orkuver Power plants Sjálfbær orka Thesis Master's 2011 ftskemman 2022-12-11T06:52:42Z With a maximum current speed of 8.7 meters per second, the mouth of Hvammsfjörður is currently at the forefront of sites under consideration that have potential of utilizing a tidal current conversion technology for electricity generation. With research completed and a model created of the area, calculations show the total annual kinetic energy at the mouth of Hvammsfjörður to be about 1,000 GWh. Röst accounts for about 75% of all flow traveling through the mouth of Hvammsfjörður and if harnessed at 30% efficiency it would provide enough energy to power all homes in Iceland, given the homes average electricity usage. However, it is not a profitable project to date due to low electricity prices in Iceland. The cost of generating electricity is only 32.2% lower at the tidal power plant start-up than the electricity price received, but moving to 61.8% in 20 years and 101% in 30 years. Starting the project with 50% higher electricity price, the project provides a positive NPV from total cash flow of 16,274 MISK. At the end of the thesis, a value added to the project is presented for the county of Dalabyggð, that being a tourist attraction design of the plant from day one, keeping in mind the 1,000,000 annual visits to all of the facilities of the company Reykjavík Energy. Sjávarorka Ehf Orkusjóður Thesis Iceland Reykjavík Reykjavík Skemman (Iceland) Reykjavík Röst ENVELOPE(-22.467,-22.467,65.117,65.117) Dalabyggð ENVELOPE(-21.729,-21.729,65.101,65.101) Hvammsfjörður ENVELOPE(-22.082,-22.082,65.080,65.080) |
institution |
Open Polar |
collection |
Skemman (Iceland) |
op_collection_id |
ftskemman |
language |
English |
topic |
Viðskiptafræði Orkuframleiðsla Sjávarfallaorka Tidal power Orkuver Power plants Sjálfbær orka |
spellingShingle |
Viðskiptafræði Orkuframleiðsla Sjávarfallaorka Tidal power Orkuver Power plants Sjálfbær orka Níels Sveinsson 1972- Profitability Assessment for a Tidal Power Plant at the Mouth of Hvammsfjörður, Iceland |
topic_facet |
Viðskiptafræði Orkuframleiðsla Sjávarfallaorka Tidal power Orkuver Power plants Sjálfbær orka |
description |
With a maximum current speed of 8.7 meters per second, the mouth of Hvammsfjörður is currently at the forefront of sites under consideration that have potential of utilizing a tidal current conversion technology for electricity generation. With research completed and a model created of the area, calculations show the total annual kinetic energy at the mouth of Hvammsfjörður to be about 1,000 GWh. Röst accounts for about 75% of all flow traveling through the mouth of Hvammsfjörður and if harnessed at 30% efficiency it would provide enough energy to power all homes in Iceland, given the homes average electricity usage. However, it is not a profitable project to date due to low electricity prices in Iceland. The cost of generating electricity is only 32.2% lower at the tidal power plant start-up than the electricity price received, but moving to 61.8% in 20 years and 101% in 30 years. Starting the project with 50% higher electricity price, the project provides a positive NPV from total cash flow of 16,274 MISK. At the end of the thesis, a value added to the project is presented for the county of Dalabyggð, that being a tourist attraction design of the plant from day one, keeping in mind the 1,000,000 annual visits to all of the facilities of the company Reykjavík Energy. Sjávarorka Ehf Orkusjóður |
author2 |
Háskóli Íslands |
format |
Thesis |
author |
Níels Sveinsson 1972- |
author_facet |
Níels Sveinsson 1972- |
author_sort |
Níels Sveinsson 1972- |
title |
Profitability Assessment for a Tidal Power Plant at the Mouth of Hvammsfjörður, Iceland |
title_short |
Profitability Assessment for a Tidal Power Plant at the Mouth of Hvammsfjörður, Iceland |
title_full |
Profitability Assessment for a Tidal Power Plant at the Mouth of Hvammsfjörður, Iceland |
title_fullStr |
Profitability Assessment for a Tidal Power Plant at the Mouth of Hvammsfjörður, Iceland |
title_full_unstemmed |
Profitability Assessment for a Tidal Power Plant at the Mouth of Hvammsfjörður, Iceland |
title_sort |
profitability assessment for a tidal power plant at the mouth of hvammsfjörður, iceland |
publishDate |
2011 |
url |
http://hdl.handle.net/1946/7430 |
long_lat |
ENVELOPE(-22.467,-22.467,65.117,65.117) ENVELOPE(-21.729,-21.729,65.101,65.101) ENVELOPE(-22.082,-22.082,65.080,65.080) |
geographic |
Reykjavík Röst Dalabyggð Hvammsfjörður |
geographic_facet |
Reykjavík Röst Dalabyggð Hvammsfjörður |
genre |
Iceland Reykjavík Reykjavík |
genre_facet |
Iceland Reykjavík Reykjavík |
op_relation |
http://hdl.handle.net/1946/7430 |
_version_ |
1766037154152054784 |