Analysis of the Efficiency of Wave Energy Exploitation by Various Devices in Vietnamese Coastal Waters

Abstract Wave energy represents a substantial and highly promising resource for our country, with the potential for significant exploitation. While numerous previous studies have concentrated on analyzing the energy potential along our coastal regions, there remains a critical gap in the research regarding the operational efficiency of wave energy conversion devices in these areas. Addressing this gap, the present paper aims to provide a comprehensive assessment of the wave energy exploitation potential in our coastal waters through the use of two distinct types of devices: AquaBuoy and Oscillating Water Column (OWC). To achieve this, the study will employ both analytical and simulation methodologies to calculate and compare the operational efficiencies of these devices under various conditions. Additionally, by utilizing the most recent data from the Vietnam Hydrometeorological Administration (2022) alongside international reports detailing the costs associated with the construction and installation of these devices, this paper will develop a comprehensive set of Levelized Cost of Energy (LCoE) parameters. These parameters will serve as critical metrics for evaluating the economic viability and effectiveness of wave energy exploitation in our coastal regions. The insights gained from this study are expected to contribute significantly to the strategic planning and implementation of wave energy projects in our country, thereby promoting sustainable energy development.