The wave energy sector is currently in a prototyping stage. During this conceptual phase method are needed for identifying promising concepts which warrant further investigation. This paper focuses on the development of a model for assessing wave energy scenarios, combination of site, WEC and project specifications, on their commercial attractiveness. Quantitative evaluation is challenging due to the high degree of uncertainty at such an early development stage and the lack of design consensus within the sector. The methods presented here highlight some of the ways this uncertainty can be reduced even with high-level input parameters to the model.