In the last few years, a wide range of Wave Energy Converter (WEC) have been designed. Among the most interesting technologies for multiple applications, there is the point absorber: if on one hand, these devices guarantee a limited energy production, on the other hand, they ensure good performances, do not require complex installations and have a limited visual and environmental impact. However, a major obstacle to the development of these technologies is the high investment costs, which prevent their development from an industrial point of view.

The purpose of this paper is to present a frequency domain model for a cylindrical point absorber and to perform a holistic optimization that maximizes the extracted power and minimizes device costs. Optimized parameters comprise shape, dimensions, mass properties, ballast and draft.

The optimization is carried out considering different installation sites in the Mediterranean Sea, chosen from the most productive ones, such as the island of Pantelleria along the Sicily channel and Alghero along the north-western coast of Sardinia, to define an optimal point absorber design for offshore applications in the Mediterranean Sea.

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