Cost and Economics
For OTEC to be viable as a power source, the technology must have tax and subsidy treatment similar to competing energy sources. Because OTEC systems have not yet been widely deployed, cost estimates are uncertain. One study estimates power generation costs as low as US $0.07 per kilowatt-hour, compared with $0.05 - $0.07 for subsidized wind systems.
Beneficial factors that should be taken into account include OTEC's lack of waste products and fuel consumption, the area in which it is available, (often within 20° of the equator) the geopolitical effects of petroleum dependence, compatibility with alternate forms of ocean power such as wave energy, tidal energy and methane hydrates, and supplemental uses for the seawater.
Read more about this topic: Ocean Thermal Energy Conversion
Famous quotes containing the words cost and/or economics:
“The cost of a thing is the amount of what I will call life which is required to be exchanged for it, immediately or in the long run.”
—Henry David Thoreau (1817–1862)
“Religion and art spring from the same root and are close kin. Economics and art are strangers.”
—Willa Cather (1876–1947)