Hydrogen Energy Storage (HES) and Power-to-Gas Economic Analysis; NREL (National Renewable Energy Laboratory)
Conference
·
OSTI ID:1215374
This presentation summarizes opportunities for hydrogen energy storage and power-to-gas and presents the results of a market analysis performed by the National Renewable Energy Laboratory to quantify the value of energy storage. Hydrogen energy storage and power-to-gas systems have the ability to integrate multiple energy sectors including electricity, transportation, and industrial. On account of the flexibility of hydrogen systems, there are a variety of potential system configurations. Each configuration will provide different value to the owner, customers and grid system operator. This presentation provides an economic comparison of hydrogen storage, power-to-gas and conventional storage systems. The total cost is compared to the revenue with participation in a variety of markets to assess the economic competitiveness. It is found that the sale of hydrogen for transportation or industrial use greatly increases competitiveness. Electrolyzers operating as demand response devices (i.e., selling hydrogen and grid services) are economically competitive, while hydrogen storage that inputs electricity and outputs only electricity have an unfavorable business case. Additionally, tighter integration with the grid provides greater revenue (e.g., energy, ancillary service and capacity markets are explored). Lastly, additional hours of storage capacity is not necessarily more competitive in current energy and ancillary service markets and electricity markets will require new mechanisms to appropriately compensate long duration storage devices.
- Research Organization:
- NREL (National Renewable Energy Laboratory (NREL), Golden, CO (United States))
- Sponsoring Organization:
- USDOE Office of Energy Efficiency and Renewable Energy (EERE), Fuel Cell Technologies Program (EE-3F)
- OSTI ID:
- 1215374
- Report Number(s):
- NREL/PR-5400-64833
- Country of Publication:
- United States
- Language:
- English
Similar Records
Hydrogen Energy Storage and Power-to-Gas: Establishing Criteria for Successful Business Cases
Economic Assessment of Hydrogen Technologies Participating in California Electricity Markets
Hydrogen underground storage for grid electricity storage: An optimization study on techno-economic analysis
Conference
·
Tue Oct 27 00:00:00 EDT 2015
·
OSTI ID:1226479
Economic Assessment of Hydrogen Technologies Participating in California Electricity Markets
Technical Report
·
Thu Feb 18 23:00:00 EST 2016
·
OSTI ID:1239543
Hydrogen underground storage for grid electricity storage: An optimization study on techno-economic analysis
Journal Article
·
Wed Oct 02 20:00:00 EDT 2024
· Energy Conversion and Management
·
OSTI ID:2462855