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Techno-economic analysis of H2 energy storage system based on renewable energy certificate.
- Source :
-
Renewable Energy: An International Journal . Apr2021, Vol. 167, p91-98. 8p. - Publication Year :
- 2021
-
Abstract
- A techno-economic analysis (TEA) was conducted to evaluate the economic profitability and feasibility for a H 2 energy storage system using an alkaline and a polymer electrolyte membrane water electrolysis for 1 MW water electrolysis operation. Many economic analysis methods such as itemized cost estimation, profitability analysis using a cumulative cash flow diagram, and uncertainty analysis employing a Monte-Carlo simulation method were utilized to perform a TEA. In particular, a renewable energy certificate (REC) was considered as an additional benefit of a renewable energy use. From itemized cost estimation, respective levelized costs of H 2 of 7.21 and 9.19 $ kgH 2 −1 were obtained for both H 2 energy storage systems in an alkaline and a polymer electrolyte membrane water electrolysis by considering current economy situation and therefore it is still difficult to be cost-competitive compared to a commercial H 2 production cost. From profitability and uncertainty analysis results, an appropriate REC weight was confirmed in terms of discounted profitability criteria like a discounted payback period, a net present value, a present value ratio, and a discounted cash flow rate of return. In addition, a REC weight was affected on a net present value compared to a REC trading cost fluctuation. • Techno-economic analysis was conducted for a H 2 energy storage system. • Respective LCOHs of 7.21 and 9.19 $ kgH 2 −1 were obtained for HESSs in an AWE and a PWE. • An appropriate REC weight was identified based on discounted profitability criteria. • A REC weight has more impact on a NPV than a REC trading price fluctuation. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 09601481
- Volume :
- 167
- Database :
- Academic Search Index
- Journal :
- Renewable Energy: An International Journal
- Publication Type :
- Academic Journal
- Accession number :
- 148124207
- Full Text :
- https://doi.org/10.1016/j.renene.2020.11.049