“Wave and Wind Forecasting in the Danish North Sea and impact in the balancing costs”
a) Wave energy predictability
b) The impact of accurate wave energy forecasts on electricity markets.
Results suggest that for day-ahead forecasts, waves are 23% more predictable than winds, the power output of WECs is 35% more predictable than for wind turbines, and the inclusion of wave energy in a wind-only system reduces balancing costs by 35%. This would imply annual savings to the Danish system of 13 MEUR (i.e. 95 MDKK/y) and a balancing premium tariff for wave energy of 1.8 EUR/MWh (compared to the current premium tariff of wind turbines of 3 EUR/MWh).
See report below