Optimizing green hydrogen systems: Balancing economic viability and reliability in the face of supply-demand volatility

Joungho Park, Sungho Kang, Sunwoo Kim, Hana Kim, Sang-Kyung Kim and Jay H. Lee

Applied Energy, 2024, vol. 368, issue C, No S0306261924008754

Abstract: Green hydrogen emerges as a vital solution for mitigating the variability of renewable energy sources, acting as a stable buffer to their unpredictable nature. This study concentrates on developing an optimal green hydrogen system, tailored to manage fluctuations in renewable energy production and diverse hydrogen demand patterns. Our comprehensive model integrates inputs from wind turbines and photovoltaic systems with proton exchange membrane (PEM) water electrolysis, and includes energy storage options like batteries and hydrogen storage tanks. Analyzing data on renewable energy availability, equipment costs, and operational efficiencies yields crucial indicators for assessing economic viability and reliability: the Levelized Cost of Hydrogen (LCOH) and the Loss of Hydrogen Probability (LOHP). These indicators serve as dual objectives in our multi-objective optimization framework, which seeks to determine the most effective system configuration and size. The simulation results illustrate the impact of varying demand scenarios on economics and reliability, highlighting the necessity of combining renewable sources with adequate energy buffering to achieve LOHP below 2%. The optimization outcomes reveal a trade-off between cost and reliability, indicating that configurations incorporating both wind and solar can achieve an LCOH under 10 USD/kg while maintaining nearly zero LOHP. Our findings from the multi-objective optimization by demand scenario provide comparative economic insights for each renewable energy source, guiding optimal combinations according to desired reliability levels.

Keywords: Green hydrogen; Variable supply and demand; Techno-economic analysis; Reliability; Multi-objective optimization (search for similar items in EconPapers)
Date: 2024
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Citations: View citations in EconPapers (4)

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DOI: 10.1016/j.apenergy.2024.123492

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