MS201 - Concurrent Analysis Method of Conceptual Design and Economics for Ocean Wave Energy Converter

Organized by: J. OH (KRISO, Republic of Korea), S. CHO (KRISO, Republic of Korea) and H. KIM (KRISO, Republic of Korea)
Keywords: Conceptual Design, Digital Model, Economic Analysis, Ocean Wave Energy Convertor, CAE(Computer-Aided Engineering)
This paper concerns about CAE-based concurrent analysis method for conceptual design and economic analysis of ocean wave energy convertor system. Structures and equipment of the wave convertor system must satisfy both performance and safety because the wave convertor system is a facility that uses large and variable energy source as a power generation source. For this reason, when designing and manufacturing this system, high costs and high safety factors are the result of the design. This makes commercialization of this system difficult. To tackle this problem, it is necessary to review development costs, construction costs, and project financing costs from the conceptual design stage to propose a high-performance, safe system with economic feasibility. In this research, we developed CAE-based methodology that can simultaneously consider conceptual design and economic analysis as a solution. This methodology was developed based on simulation-based proper design technology that combined the CAE-based simulation model of this system with parts, material specs and cost database. The database was defined by order form and order standard specs of each equipment such as turbine, generator, bearing, and etc. Additionally, the simulation model was built as a simplified model to ensure low latency of analysis using numerical method and physics theory.