Parametric Bottom-Up Cost Modelling of Tidal Energy Converters for Site-Specific Feasibility Studies

Tidal energy is a promising, predictable, and underexploited source in the marine renewable sector. This study presents a detailed bottom-up techno-economic optimization assessment model adapted to tidal energy converter (TEC) systems. The novelty model breaks down component-level costs for TECs into three foundational types: gravity-based substructures (GBS), floating platforms, and monopiles. Unlike traditional top-down methods, the model couples these foundation-specific costs with site-specific tidal resource data to evaluate energy yield and economic performance. The model is applied to five different locations, i.e., Fall of Warness (UK), Fromveur and Raz Blanchard (France), Punta Pezzo (Italy), and Cozumel (Mexico), to assess how local bathymetry, tidal velocities, and distance to shore affect the feasibility of the TEC plant. Validation against the ATIR floating platform project showed strong agreement with real-world deployment costs. Results from the case studies indicate that monopile and floating TECs typically achieve higher capacity factors and lower Levelized Costs of Energy (LCoE) compared to GBS systems. The monopile configuration is more suitable for shallow water, while floating platforms prove more cost-effective in deepwater sites. By highlighting the importance of tailoring TEC configurations with specific site conditions, these insights provide a robust and scalable tool for informing early-stage design and policy-making.