COST-BENEFIT ANALYSIS OF TIDAL ENERGY GENERATION IN NOVA SCOTIA: A SCENARIO FOR A TIDAL FARM WITH 300MW OF INSTALLED CAPACITY IN THE MINAS PASSAGE IN 2020

Abstract

This thesis presents a cost-benefit analysis of tidal power generation with specific reference to the installation of a 300MW tidal farm in the Minas Passage, in Nova Scotia, in 2020, as a case study. Nova Scotia has set aggressive targets to increase the share of renewables in the province’s electricity generation mix and tidal energy is considered to be the ?sleeping giant? amongst renewable energy sources. After having estimated the many costs and benefits and having calculated the net present value of such a project, it is concluded here that the project should not proceed as its costs greatly surpass its benefits. However, it is recommended that further studies evaluating the costs and benefits at different levels of tidal penetration be conducted for the province.