A case study on hydrogen refueling station techno-economic viability

Abstract

The anticipated escalation in the utilization of renewable energy sources is projected to make a significant contribution to the attainment of long-term sustainability objectives and the promotion of resilient economic expansion. Australia is taking positive steps to increase its climate and clean energy ambitious targets through investment in the clean energy infrastructure and increased funding at federal and state levels. A systematic approach is required to propel the progress of environmentally friendly hydrogen production and to achieve these objectives, a techno-economic optimization analysis for hydrogen generation to use the findings to improve the efficiency of recharging fuel cell vehicles is performed. The results of the evaluation and optimization showed that the energy system which integrates wind-based sources with photovoltaic sources, presents the most advantageous metrics. The lowest values for the selected energy system include the Net Present Cost of $614,957, the Levelized Cost of Energy of $0.4347/kWh, and the Levelized Cost of Hydrogen of $0. 375/kg. More so, the cost of energy is expected to decrease further as the lifetime of the electrolyzer lifetime increases as supported by sensitivity analysis. The study showed that setting up a refueling station in the city of Geelong has the potential to serve as a viable solution for decreasing reliance on fossil fuels and achieving decarbonization within Geelong's transportation sector. This study is anticipated to enable stakeholders to promote hydrogen generation in Australia.