Strategic Investments: Electrolysis vs. Hydrogen Storage for Europe's Energy Security in the Hydrogen Era

Ange Blanchard ()
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Ange Blanchard: Chaire économie du climat - Chaire économie du climat, LGI - Laboratoire Génie Industriel - CentraleSupélec - Université Paris-Saclay

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Abstract: This paper addresses the pivotal role of hydrogen in Europe's decarbonisation efforts and the looming reliance on imports, expected to exceed 50\% by 2035. Considering historical compromises to energy security due to geopolitical events and technical failures, we explore the drivers of energy security in building a reliable hydrogen economy. Focusing on Underground Hydrogen Storage (UHS) and electrolysis, we employ a Multi-stage stochastic dynamic programming model to assess optimal strategies against disruption risks in 2035 for Central Western Europe. Our findings reveal the complementarity of electrolysis and UHS in addressing security concerns, with a recommended investment premium in both. Notably, electrolysis outperforms and is preferred. Additionally, the paper emphasises the dominance of investment over operational measures, highlighting hydrogen's unique specificities compared to traditional energy vectors.

Keywords: Hydrogen storage; Renewable energy; Energy security (search for similar items in EconPapers)
Date: 2023-11-09
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Published in Transatlantic Infraday (TAI), CentraleSupelec, Nov 2023, Paris-Saclay, France

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04297136

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