A systematic review of the techno-economic assessment of various hydrogen production methods of power generation

Abstract

Hydrogen is a low or zero-carbon energy source that is considered the most promising and potential energy carrier of the future. In this study, the energy sources, feedstocks, and various methods of hydrogen production from power generation are comparatively investigated in detail. In addition, this study presents an economic assessment to evaluate cost-effectiveness based on different economic indicators, including sensitivity analysis and uncertainty analysis. Proton exchange membrane fuel cell (PEMFCs) technology has the most potential to be developed compared to several other technologies. PEMFCs have been widely used in various fields and have advantages (i.e., start-up, zero-emissions, high power density). Among the various sources of uncertainty in the sensitivity analysis, the cost estimation method shows inflationary deviations from the proposed cost of capital. This is due to the selection process and untested technology. In addition, the cost of electricity and raw materials, as the main factors that are unpredictable.

Green Hydrogen Energy Systems: A Review on Their Contribution to a Renewable Energy System

“…Similar to how the levelized cost of energy (LCOE) serves as an indicator for comparing the cost of electricity produced from renewable sources, the levelized cost of hydrogen (LCOH) is a commonly used metric for comparing the costs of producing hydrogen from various energy sources [70]. LCOH offers a comprehensive view of the costs involved in producing one kilogram of hydrogen by considering the capital expenditures (CAPEX) and operational expenditures (OPEX) of the projects, production efficiency, system lifetime, performance degradation, and the cost of energy used [71].…”

Economy of scale for green hydrogen-derived fuel production in Nepal

“…Projections suggest that green hydrogen will have a pivotal role in the global energy transformation ( International Energy Agency, 2015 )., given its adaptability and high heat value (120–140 MJ/kg) compared to gasoline (44 MJ/kg) and coal (20 MJ/kg) ( Hosseini and Wahid, 2016 ; Francesco, 2018 ). Additionally, its use in CO 2 recycling via the Sabatier Process offers energy-efficient solutions for addressing global energy demand and combating global warming ( Dutta, 2014 ; Shastri et al, 2022 ).…”

Economic impact assessment of Hydrogen generated from Offshore Wind: A case study for Belgium

“…Here, we provide an overview of the most recent literature on these methods to cover this rapidly developing landscape of studies analysing hydrogen generation with its LCOH implications. [8] and [9] reviewed techno-economic analysis approaches to evaluate different hydrogen generation methods. [10] assessed hydrogen storage in combination with renewable energy sources by analysing 15 different projects.…”

“…The EIA approach proposed in this paper models both the hydrogen and the electricity generation with similar fidelity to provide the same developmental and operational flexibility for both hydrogen and electricity generation plants assessing both LCOH and LCOE. This is done by using the existing models available to estimate LCOE of offshore wind farms in [23] and extend these models with the hydrogen generation capability with PEM electrolysis located onshore as this is the most commonly implemented technology currently [22], [9]. As a case study, an offshore wind farm is used to generate electricity and a part of this electricity is used to produce hydrogen in an onshore plant.…”