Economic Analysis of Supply Chain for Offshore Wind Hydrogen Production for Offshore Hydrogen Refueling Stations

Yan Zhang, Yanming Wan, Yanan Dong, Ruoyi Dong, Xiaoran Yin, Chen Fu, Yue Wang, Qingwei Li, Haoran Meng and Chuanbo Xu ()
Additional contact information
Yan Zhang: CHN Energy Hydrogen Innovation Technology Co., Ltd., Beijing 100007, China
Yanming Wan: CHN Energy Hydrogen Innovation Technology Co., Ltd., Beijing 100007, China
Yanan Dong: School of Economics and Management, North China Electric Power University, Beijing 102206, China
Ruoyi Dong: School of Economics and Management, North China Electric Power University, Beijing 102206, China
Xiaoran Yin: School of Economics and Management, North China Electric Power University, Beijing 102206, China
Chen Fu: State Grid Shanghai Economic Research Institute, Shanghai 200235, China
Yue Wang: School of Economics and Management, North China Electric Power University, Beijing 102206, China
Qingwei Li: School of Economics and Management, North China Electric Power University, Beijing 102206, China
Haoran Meng: School of Economics and Management, North China Electric Power University, Beijing 102206, China
Chuanbo Xu: School of Economics and Management, North China Electric Power University, Beijing 102206, China

Energies, 2025, vol. 18, issue 3, 1-18

Abstract: In order to solve the problem of large-scale offshore wind power consumption, the development of an offshore wind power hydrogen supply chain has become one of the trends. In this study, 10 feasible options are proposed to investigate the economics of an offshore wind hydrogen supply chain for offshore hydrogen refueling station consumption from three aspects: offshore wind hydrogen production, storage and transportation, and application. The study adopts a levelized cost analysis method to measure the current and future costs of the hydrogen supply chain. It analyses the suitable transport modes for delivering hydrogen to offshore hydrogen refueling stations at different scales and distances, as well as the profitability of offshore hydrogen refueling stations. The study draws the following key conclusions: (1) the current centralised wind power hydrogen production method is economically superior to the distributed method; (2) gas-hydrogen storage and transportation is still the most economical method at the current time, with a cost of CNY 32.14/kg, which decreases to CNY 13.52/kg in 2037, on a par with the cost of coal-based hydrogen production using carbon capture technology; and (3) at the boundaries of an operating load factor of 70% and a selling price of CNY 25/kg, the offshore hydrogen refueling station. The internal rate of return (IRR) is 21%, showing good profitability; (4) In terms of the choice of transport mode for supplying hydrogen to the offshore hydrogen refueling station, gas-hydrogen ships and pipeline transport will mainly be used in the near future, while liquid organic hydrogen carriers and synthetic ammonia ships can be considered in the medium to long term.

Keywords: offshore hydrogen refueling stations; offshore wind hydrogen production; supply chain; levelized cost; techno-economics (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2025
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