Optimizing Investments in Coupled Offshore Wind -Electrolytic Hydrogen Storage Systems in Denmark

Joshua Eichman, Peng Hou, Peter Enevoldsen, Weihao Hu, Mark Jacobson, Zhe Chen

Research output: Contribution to journalArticlepeer-review

131 Scopus Citations

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. 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.
Original languageAmerican English
Pages (from-to)186-197
Number of pages12
JournalJournal of Power Sources
Volume359
DOIs
StatePublished - 2017

NREL Publication Number

  • NREL/JA-5400-68624

Keywords

  • business case
  • electrolysis
  • fuel cell
  • hydrogen
  • power-to-gas
  • power-to-hydrogen
  • renewable energy
  • wind power

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