Wave energy has huge capacity which needs to be explore more. In India, total capacity of Wave energy is 41 GW. As compared to wind, solar & hydel power, Wave has two challenges; it is not continuous & energy carrying media, i.e. water, doesn’t have a uni-directional motion. There are various techniques followed in harnessing wave energy which are solving one common challenge- “How to get continuous output of power from discrete wave power”. Predominantly there are two techniques followed; Pumping water from wave energy to a reservoir & releasing to continuous power generation. Second,generate electricity directly from wave and charge a battery.Then releasing continuous power from battery. They require additional central unit for power generation & storage, either battery or water reservoir, for continuous power supply which account for high project cost. In subjected model, a new technique have been invented to solve the problem within portable single units.
HOW IT WORKS-
For continuous electricity from discrete wave, a potential energy storage system has been installed within the floating unit. generators are also encased within floating unit. There is no need of separate generator unit or energy storage unit of either water or battery. Assembly is modular & portable. Energy obtained from wave is divided in two parts, first to rotate generator shaft & other is stored in PE storage unit to be used to rotate generator between two waves. Which ensures continuous input to generator.
Cost of harnessing energy from wave has been reduced by solving problem of wave discreteness with a cheaper alternative.
Entire assembly is made with sea water resistant material. all the metal components are sealed within floating unit. Each part is modular and can be easily replaced. Complete unit is modular and independent. They can be attached in series matrix as per the total capacity of plant. Being modular & portable, it can be very easily manufactured at a central unit and shipped to the site
MARKETING & BUSINESS MODEL
Business Model 1: Technology Development & Licensing fee
Customer Segment: Renewable energy companies who set up power plantsValue Proposition: Technology to leverage wave energy to generate electricity. All renewable companies are focussed on Solar and Wind energy. We will offer them a third dimension to extend their portfolio
Channel: Business Development - Direct Sales
1. Consulting fee to set up the core electricity generating machinery
2. Licensing fee per unit of electricity produced
3. Maintenance fee for special Engineering efforts only <regular maintenance to be done by the client>
Business Model 2: Technology Development and Electricity Generation
Customer Segment: Ministry of new and renewable enegry in India
Value Proposition: Electricity using clean energy. Setting up power generation plants and sell clean electricity produced to the government
Step 1:Participating in government competitions to boost innovation in Clean energy
tenders for renewable energy,
Step 2: Participate in govt tenders to set up wave power plant.
Revenue stream: Directly selling electricity units to government.