An Updated Mooring Cost Modeling Tool Set With Application to a Reference Model Wave Energy Converter

The existing literature has limited publicly available data on the costs of components in the mooring systems of marine energy converters (MECs). Based on conversations with more than 10 different mooring suppliers and developers, a set of cost curves was created. These curves cover four types of anchors, five types of mooring lines, four types of connection hardware, and mooring buoys. This robust set of cost information has also been implemented in the mooring design tool MoorPy and the energy techno-economic analysis tool the System Advisor Model (TM). To demonstrate the use of these curves, a case study was conducted that examined mooring system cost estimates for the reference model 3 (RM3) device. A quick analysis with new tools that were not available during the original RM3 design showed that mooring components were oversized, and thus the case study resized mooring components using the original design process before applying the new cost curves. This resizing was not a complete design process, as it lacked analysis of factors like mean drift load and mooring fatigue. However, it was sufficient to show an application of the cost curves. The case study results were compared to the original RM3 mooring system costs to show a 70% cost reduction, while still meeting the same design requirements. This cost reduction was largely driven by the resizing of mooring components rather than fundamental differences in component prices. The publication of these cost curves will allow for cost-optimized prototyping of MEC mooring systems, ultimately leading to lower mooring costs and decreased levelized cost of energy.