The software was tailored for a wide range of projects from early stage project development to refined detail financial review. We were very impressed with the ability of the model to easily assess the financial viability involving both wave and wind, this was previously something which took time and effort to asses using our techno-economic model.
Applications – The software was first adapted to our current projects in Ireland which allowed us to verify our existing financial model. Different elements of the software were interesting to different members of our team; an example includes the ability for the software to carry out a sensitivity analysis on resulting outputs – e.g. minor changes in the development cost can have a large effect in the ROI/NPV; all outputs were clearly presented in graph form which is ideal for presentation purposes. This I believe was one of the major advantages of the software, its ability to clearly present its findings allowing for transparent data dissemination amongst our team and clients. The sensitivity analysis paints a very interesting picture for developers allowing them to clearly understand that ‘large’ energy production is not always the most economical. The GRS team have been delighted to part take in the Exceedence trail and now happily become one of the first customers of the software. It’s clear that the software has massive potential to help commercialise wave and tidal renewable energy in a sustainable manner.
Project Manager at GRSI Energy Ltd.