Abstract
The implementation electrolysis plant in combination with wind power plant is proposed, to absorb wind generation otherwise curtailed while generating ‘green’ hydrogen for the merchant hydrogen market. The objective are to (i) achieve exceptionally high wind power penetrations in future power systems, and (ii) derive hydrogen for sale in the existing merchant industrial market from surplus (zero cost) renewable electricity. The economic rationale is investigated for an isolated power system as a function wind penetration, wind curtailment target, electrolyser cost, hydrogen system efficiency and hydrogen sales price. The main outputs are the total annualized cost of wind power plant with electrolysis plant, net annual revenues and discounted pay-back periods. Unprecedented low values of pay-back period are attainable, relative to the implementation of wind power plant at low wind penetrations ( Φ W). For example, at Φ W = 50%, a wind curtailment target of 80% allows the investment to be recovered after 4–7 years, provided the hydrogen system efficiency is ≥50% and the hydrogen sales price is 20–30 $/kg. Making use of some non-curtailed wind electricity to boost the utilization of the electrolyser stock is also investigated as a means for improving the return on investment.
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