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Title: Optimizing investments in coupled offshore wind-electrolytic hydrogen storage systems in Denmark

Abstract

In response to electricity markets with growing levels of wind energy production and varying electricity prices, this research examines incentives for investments in integrated renewable energy power systems. A strategy for using optimization methods for a power system consisting of wind turbines, electrolyzers, and hydrogen fuel cells is explored. This research reveals the investment potential of coupling offshore wind farms with different hydrogen systems. The benefits in terms of a return on investment are demonstrated with data from the Danish electricity markets. This research also investigates the tradeoffs between selling the hydrogen directly to customers or using it as a storage medium to re-generate electricity at a time when it is more valuable. Finally, this research finds that the most beneficial configuration is to produce hydrogen at a time that complements the wind farm and sell the hydrogen directly to end users.

Authors:
 [1];  [2];  [3];  [1];  [4];  [1]
  1. Aalborg Univ. (Denmark)
  2. Aarhus Univ. (Denmark)
  3. National Renewable Energy Lab. (NREL), Golden, CO (United States)
  4. Stanford Univ., Stanford, CA (United States)
Publication Date:
Research Org.:
National Renewable Energy Lab. (NREL), Golden, CO (United States)
Sponsoring Org.:
USDOE Office of Energy Efficiency and Renewable Energy (EERE), Hydrogen and Fuel Cell Technologies Program (EE-3F)
OSTI Identifier:
1365697
Report Number(s):
NREL/JA-5400-68624
Journal ID: ISSN 0378-7753
Grant/Contract Number:
AC36-08GO28308
Resource Type:
Journal Article: Accepted Manuscript
Journal Name:
Journal of Power Sources
Additional Journal Information:
Journal Volume: 359; Journal Issue: C; Journal ID: ISSN 0378-7753
Publisher:
Elsevier
Country of Publication:
United States
Language:
English
Subject:
25 ENERGY STORAGE; wind power; hydrogen; renewable energy; power-to-hydrogen; power-to-gas; electrolysis; fuel cell; business case

Citation Formats

Hou, Peng, Enevoldsen, Peter, Eichman, Joshua, Hu, Weihao, Jacobson, Mark Z., and Chen, Zhe. Optimizing investments in coupled offshore wind-electrolytic hydrogen storage systems in Denmark. United States: N. p., 2017. Web. doi:10.1016/j.jpowsour.2017.05.048.
Hou, Peng, Enevoldsen, Peter, Eichman, Joshua, Hu, Weihao, Jacobson, Mark Z., & Chen, Zhe. Optimizing investments in coupled offshore wind-electrolytic hydrogen storage systems in Denmark. United States. doi:10.1016/j.jpowsour.2017.05.048.
Hou, Peng, Enevoldsen, Peter, Eichman, Joshua, Hu, Weihao, Jacobson, Mark Z., and Chen, Zhe. Thu . "Optimizing investments in coupled offshore wind-electrolytic hydrogen storage systems in Denmark". United States. doi:10.1016/j.jpowsour.2017.05.048. https://www.osti.gov/servlets/purl/1365697.
@article{osti_1365697,
title = {Optimizing investments in coupled offshore wind-electrolytic hydrogen storage systems in Denmark},
author = {Hou, Peng and Enevoldsen, Peter and Eichman, Joshua and Hu, Weihao and Jacobson, Mark Z. and Chen, Zhe},
abstractNote = {In response to electricity markets with growing levels of wind energy production and varying electricity prices, this research examines incentives for investments in integrated renewable energy power systems. A strategy for using optimization methods for a power system consisting of wind turbines, electrolyzers, and hydrogen fuel cells is explored. This research reveals the investment potential of coupling offshore wind farms with different hydrogen systems. The benefits in terms of a return on investment are demonstrated with data from the Danish electricity markets. This research also investigates the tradeoffs between selling the hydrogen directly to customers or using it as a storage medium to re-generate electricity at a time when it is more valuable. Finally, this research finds that the most beneficial configuration is to produce hydrogen at a time that complements the wind farm and sell the hydrogen directly to end users.},
doi = {10.1016/j.jpowsour.2017.05.048},
journal = {Journal of Power Sources},
number = C,
volume = 359,
place = {United States},
year = {Thu May 25 00:00:00 EDT 2017},
month = {Thu May 25 00:00:00 EDT 2017}
}

Journal Article:
Free Publicly Available Full Text
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Cited by: 2works
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