Hydrogen as Energy Storage for Renewables in East Asia: Economic Competitiveness and Policy Implications

Yanfei Li () and Farhad Taghizadeh-Hesary ()
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Yanfei Li: Hunan University of Technology and Business
Farhad Taghizadeh-Hesary: Tokai University

Chapter 22 in The Handbook of Energy Policy, 2023, pp 609-641 from Springer

Abstract: Abstract Hydrogen energy provides an option to integrate renewable energy into the energy mix and increase its share. Hydrogen is also a means to couple renewable energy and the transport sector. This study investigates the economics of hydrogen as energy storage for renewables in the Association of Southeast Asian Nations and East Asian countries. Subsequently, the study analyzes downstream applications of hydrogen energy in power generation and in road transport, respectively. In the case of power sector, the cost of electricity stored as hydrogen and then returned to the grid as electricity is estimated in United States (US) dollars per kilowatt-hour and compared with the electricity stored using lithium batteries and pumped-hydro. In the case of transport sector, the total cost of fuel cell electric vehicles is estimated in US dollars per kilometer and compared with alternative powertrains such as battery electric vehicles, plug-in hybrid electric vehicles, and internal combustion engine vehicles. Hydrogen and its downstream applications are not competitive against other mature alternatives at this moment. The study indicates how big the cost gaps are and shows that significant economies of scale exist in hydrogen supply pathways. We expect factors such as technological progress, learning effects, maturing of the supply chain, and economies of scale to substantially reduce the cost of hydrogen and its applications and make them economically competitive in the near future. Case studies on hydrogen energy companies in China and Japan further complement the findings from the modelling analysis. We draw policy implications based on these findings.

Keywords: Hydrogen; Renewable energy; Energy storage; ASEAN; East Asia; Q40; Q42; Q48 (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/978-981-19-6778-8_39

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