Abstract
The Isle of Wight, off the South Coast of the UK, is an area of potential for tidal stream energy (TSE). The tidal flows in the wider region are significant, with areas of interest including the flow through the Solent (the channel between the Isle of Wight and the mainland), Portland Bill to the west and, most notably, the Perpetuus Tidal Energy Centre (PTEC) to the south of the Island.
The Isle of Wight has proximity to grid infrastructure and population centres in Hampshire. The current site is a 5km2 area and aims to be operational by 2027/2028. The initial plan is to deploy about ten tidal turbines, with a capacity of 20MW, that would power 12,000 homes, equivalent to around 20% of the homes on the Isle of Wight or generate Green Hydrogen. Beyond this, there is the potential for higher capacity to be developed on the site, with up to 300MW estimated in some studies.
This work is being supported by the Tidal Stream Industry Energiser (TIGER) Project, a €45.3m Interreg-funded project assisting developments at six sites in the Channel region between the UK and France. This report aims to assess the potential of the Isle of Wight sites for a commercial TSE array. The report targets prospective project developers, investors, policymakers and suppliers who would benefit from an updated holistic and third-party evaluation. Our study consists of the following aspects:
A Literature review: including descriptions of the site's history, the main stakeholders, regional support and schemes and the flow conditions.
A Geographic Information System (GIS) analysis: to assess the size of the commercial farm that could be built, identify potential impacts on other sea users and show the potential barriers and geographical aspects that must be considered.
A techno-economic analysis: to estimate the levelized cost of energy (LCOE) that a representative farm at the site could achieve and the CfD strike price that would be required to encourage project development and private investment. We considered optimistic and pessimistic industry cases and applied learning rates to gain insight into the trajectory of LCOE and appropriate CfD strike prices over time.