Economic Feasibility Analysis of Onshore Hydrogen Production Using Offshore Wind Power

doi:10.12204/j.issn.1000-7229.2023.03.015

Abstract

Abstract:

The coastal areas of China are economically developed and have a large energy demand. It is of practical significance to explore the production of hydrogen using offshore wind power to supply energy to other industries. This paper compares two utilization modes of offshore wind power after transmission on shore, i.e., direct sales and use for hydrogen production. Firstly, by comparing the power characteristics of alkaline (ALK) and proton exchange membrane (PEM) electrolyzers, the hydrogen production model is established. Secondly, the economic models of the two modes are established. Finally, the economy of different wind energy utilization modes are compared using net present value (NPV) and levelized cost of hydrogen production (LCOH). The results show that, under the current technical scenario, when the hydrogen price is 46.93 yuan/kg and the feed-in electricity price of wind power is 0.5318 yuan/(kW·h), the wind power used for hydrogen production is more economical than the wind power sales mode. The hydrogen price is the biggest factor affecting the economics of the hydrogen production model, where the hydrogen price depends on the supply and demand relationship in the future hydrogen market, and there is great uncertainty.

Key words: consumption mode of offshore wind power, wind power sales, hydrogen production using wind power, cost-benefit analysis, levelized cost of hydrogen

CLC Number:

TM614

ZHANG Yan, HAO Zhenbo, ZHU Zhentao, WANG Hairong. Economic Feasibility Analysis of Onshore Hydrogen Production Using Offshore Wind Power[J]. ELECTRIC POWER CONSTRUCTION, 2023, 44(3): 148-154.

Figures/Tables 10

Table 1 Comparison of ALK and PEM hydrogen production from water electrolysis

Fig.1 Structure diagram of hydrogen production system using wind power

Fig.2 System structure of wind power sales mode

Table 2 Comparison of wind energy utilization modes

Fig.3 Time-series diagram of output power of offshore wind farm in a certain year

Table 3 Investment cost of hydrogen production mode

Table 4 Data of investment cost of electricity sales model

Fig.4 The cumulative discounted cash flow of the system under each mode

Fig.5 LCOH of different hydrogen production schemes under the change of electrolyzer capital cost

Fig.6 Analysis of sensitive factors of PEM hydrogen production using wind power

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