To advance wave energy devices towards commercialization, it is essential to optimize their design to enhance system performance. Additionally, a thorough economic evaluation is crucial for making these technologies competitive with other renewable energy sources. This study focuses on the techno-economic optimization of an innovative inertial system, the so-called SWINGO system, which is based on gyropendulum technology. SWINGO stands out due to its high energy efficiency in multi-directional installation sites, where wave directions vary significantly throughout the year. The study introduces the application of a multi-objective Evolutionary Algorithm (EA), specifically the Non-dominated Sorting Genetic Algorithm II (NSGA-II), to optimize the techno-economic performance of the SWINGO system. This approach aims to identify optimal design parameters that maximize energy extraction while considering economic viability. By deriving a Pareto frontier, a set of optimal devices is selected for further analysis. The performance of the SWINGO system is also compared to an alternative (mono-directional) inertial wave energy converter, the Inertial Sea Wave Energy Converter (ISWEC), to highlight the differences in techno-economic outcomes. Both systems are evaluated at two different installation sites: Pantelleria island and the North Sea in Denmark, with a focus on the directional wave scatter at each location.
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