Performance Period: 2013 -2014
In collaboration with Synapse Energy Economics and under contract to the Nova Scotia Utility Board, Re Vision is developing a Feed-In Tariff (FIT) structure for commercial tidal projects in the Bay of Fundy. The proposed FIT structure is expected to spur commercial development of tidal power in one of the world’s most significant tidal resources. The scope of work includes: (1) An independent assessment of project costs and device performance at the proposed deployment site, (2) Development of a proposed FIT structure that will spur commercial development, while minimizing rate-payer cost, and (3) Refinement of FIT through a stakeholder process consisting of device developers, utilities, consumer advocates and various other stakeholders.
In 2006, Re Vision Consulting (under contract to EPRI) has identified the Minas Passage in the Bay of Fundy as a major tidal energy resource in a tidal energy collaborative effort that included a wide range of stakeholders in the US and Canada. As a direct result of these efforts, FORCE was founded to develop a tidal energy site, which houses four grid-connected births.
Based on our recommendations, theNova Scotia Utility Board approved a “declining block” Developmental Tariff in November 2013. Feed-in rates were set at $455CAD/MWh for 1MW – 5MW scale projects and $375CAD/MWh for 5MW – 10MW projects. In December 2014, four developers were approved to build out 17.5 MW of tidal power under this scheme. The decision-support documents provide cost breakdowns for deployments at these scales, which were established through an industry consultation process. Details can be found here.
