Abstract
AbstractRenewable energy is a core issue when it comes to energy resources today. However, the use of tidal energy has received less attention compared to solar and wind energy. This study investigates the technical‐economic evaluation of tidal power plants in three areas of Bushehr, Pol, and Khowr‐e Musa, all located along the southern coast of Iran. Four economic indices including net present value (NPV), benefit–cost ratio, capital return time, and internal rate of return are used. The study compares a tidal power plant with a solar and a Combined Cycle Gas Turbine power plant bearing a capacity of 10 MW. The results show that the total initial cost of a tidal power plant is 1.92 times higher compared to a PV and 7.16 times higher compared to a CCGT power plant. Due to the potential of solar and tidal energy, the three studied regions are economically different. The results show the NPV of a tidal power plant in Khowr‐e Mousa region is 4.90 times higher than a PV power plant and 9.93 times higher than a CCGT power plant. In addition, the cost of energy production per kilowatt depends on the region and the type of power plant technology. The lowest cost of energy production is related to tidal energy in Khowr‐e Musa region. The results of sensitivity analysis also show that the highest sensitivity is related to the initial cost and electricity sales rate.
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