Techno-economic Analysis Research Articles

Green hydrogen prospects in Peninsular Malaysia: a techno-economic analysis via Monte Carlo simulations

According to Malaysia's National Energy Transition Roadmap, hydrogen is a critical component of the country's energy transition. However, there is a scarcity of hydrogen studies for Peninsular Malaysian states, which limits discussions on green hydrogen production. This study employs a Monte Carlo model to assess the economic and technical factors influencing the success of green hydrogen in Peninsular Malaysia. The study focuses on three target years: 2023, 2030, and 2050, representing various stages of technological development and market adoption. The levelized cost of hydrogen (LCOH) of a 1-MW Proton Exchange Membrane (PEM) electrolyzer system ranges from $5.39 to $10.97 per kg in 2023, highlighting early-stage challenges and uncertainties. A 6-MW PEM electrolyzer system could achieve an LCOH of $3.50 to $4.72 per kg by 2030, indicating better prospects. Because of technological advancements and cost reductions, a 20-MW PEM electrolyzer system could achieve an LCOH of $3.12 to $3.64 per kg in 2050. The findings indicate that the northern regions of Peninsular Malaysia have consistently low LCOH values due to favorable geographical conditions. Due to minor variations in solar capacity factors, uncertainty distributions in LCOH remain stable across different regions. Some states may face increased uncertainty, emphasizing the need for additional policy support mechanisms to mitigate risks associated with green hydrogen investments. The sensitivity analysis shows that key cost drivers are shifting, with early-stage electrolyzer investments dominating in 2023 and electricity prices becoming more important in 2030 and 2050. Future research could focus on optimizing green hydrogen systems for areas with underdeveloped green hydrogen industries. This study contributes to informed discussions about green hydrogen production by emphasizing the importance of tailored strategies that consider local conditions and highlighting the role of Peninsular Malaysia in the energy transition.

Techno-economic feasibility analysis of an on-grid IOT-based rooftop solar photovoltaic system for prosumers with a real-time implementation: a detailed case study and analysis using HOMER software

Techno-economic feasibility analysis of an on-grid IOT-based rooftop solar photovoltaic system for prosumers with a real-time implementation: a detailed case study and analysis using HOMER software

Sustainable upcycling of mixed spent cathodes to a high-voltage polyanionic cathode material

Sustainable battery recycling is essential for achieving resource conservation and alleviating environmental issues. Many open/closed-loop strategies for critical metal recycling or direct recovery aim at a single component, and the reuse of mixed cathode materials is a significant challenge. To address this barrier, here we propose an upcycling strategy for spent LiFePO4 and Mn-rich cathodes by structural design and transition metal replacement, for which uses a green deep eutectic solvent to regenerate a high-voltage polyanionic cathode material. This process ensures the complete recycling of all the elements in mixed cathodes and the deep eutectic solvent can be reused. The regenerated LiFe0.5Mn0.5PO4 has an increased mean voltage (3.68 V versus Li/Li+) and energy density (559 Wh kg–1) compared with a commercial LiFePO4 (3.38 V and 524 Wh kg–1). The proposed upcycling strategy can expand at a gram-grade scale and was also applicable for LiFe0.5Mn0.5PO4 recovery, thus achieving a closed-loop recycling between the mixed spent cathodes and the next generation cathode materials. Techno-economic analysis shows that this strategy has potentially high environmental and economic benefits, while providing a sustainable approach for the value-added utilization of waste battery materials.

Evaluating the feasibility of direct contact membrane distillation and nanofiltration in ground water treatment through a techno-economic analysis

This study delves into the realm of water treatment by conducting a comprehensive techno-economic evaluation of direct contact membrane distillation (DCMD) and nanofiltration (NF) processes. While previous research has explored the technical aspects of membrane distillation (MD) and nanofiltration, there remains a notable gap in economic analyses. Our research aims to bridge this gap by assessing the financial feasibility of employing MD and NF technologies for water desalination. Specifically, we scrutinize the performance of hydrophobic microporous flat sheet membranes crafted from polytetrafluoroethylene (PTFE) supported by non-woven polypropylene (PP) in desalinating brackish water through DCMD and NF processes. By varying operating conditions such as flow rate and feed temperature, we evaluate the membrane's efficacy. Employing an analytical model based on heat and mass transfer equations, we predict process performance across diverse scenarios. Our model demonstrates a high level of accuracy, with flux predictions deviating by less than 10% when utilizing the Knudsen-molecular mechanism model. Furthermore, through a detailed design and economic analysis of industrial-scale units for both processes, we reveal that the cost of permeated water is lower with NF compared to DCMD. Specifically, our calculations indicate a water cost of 1.34 USD/m3 for DCMD at a feed temperature of 65 °C with an 80% recovery rate, positioning it as a competitive option among conventional desalination methods. Notably, our financial assessment highlights that steam cost constitutes the primary expense in DCMD operations, contingent upon heating value and fuel prices. Noteworthy findings suggest that natural gas emerges as the most cost-effective fuel for steam production in a DCMD plant. This study underscores the economic viability and potential cost efficiencies associated with NF over DCMD in water treatment applications.

Techno-Economic and Environmental Analysis of the Integration of PV Systems into Hybrid Vessels

Solar energy is one type of clean energy resource, and currently the IMO, EU and UK are targeting net zero carbon emissions by 2050. This paper delves into the integration of photovoltaic (PV) systems into hybrid vessels in order to meet their strategies and targets. The technical challenges that come with designing such systems as well as their economic and environmental impacts are examined. By optimizing the usage of harnessed solar energy, we discover the operational strategy that provides maximal benefits through day-to-day savings as well as over the 25 year lifespan of solar panels. It demonstrates impressive economic viability, with cost savings of up to GBP 4.55 per day and a payoff period as short as 9 years. It also displays a modest emission reduction of up to 8.002 kg of CO2, which serves as proof for a pathway to greener practices in the maritime industry. This report highlights the operational flexibility that a hybrid vessel possesses once paired with a PV system through the ability to withstand regulatory and market changes. Also, when looking ahead, further adoption of PV technology creates opportunities for innovation in adopting renewable energy solutions in maritime transportation.

On the cost of zero carbon electricity: A techno-economic analysis of combined cycle gas turbines with post-combustion CO2 capture

To achieve a sustainable electricity grid, affordable and dispatchable power capacity that supports grid stability and does not increase atmospheric CO2 levels will be required. Combined cycle gas turbines (CCGTs) with post-combustion CO2 capture (PCC) can meet these requirements by capturing and permanently storing all combustion CO2 emissions and, coupled with negative emissions technologies, any remaining life-cycle emissions. For the first time, we present a comprehensive analysis of the technical and financial challenges of producing zero-carbon electricity from CCGTs on a life-cycle basis. We conclude that when the design is optimised, fossil CO2 capture fractions can be increased from 96% to 100% with minimal process modification, commercially available technology and an additional 0.5% decrease in thermal efficiency. This represents a significant 60–70% reduction in the additional efficiency penalty required to reach zero CO2 emission operation. The Cost of CO2 Avoided of 100% fossil CO2 capture is just 128 £/tCO2, a 3 £/tCO2 increase over the 95% gross CO2 capture fraction required to permit PCC projects in the UK. Indeed, within the bounds of the UK power CCS business model, we show that 100% fossil CO2 capture maximises both variable and capacity payments to the producer, resulting in a 2% decrease in the cost of power produced. For zero-carbon electricity on a life-cycle basis, the recapture and permanent geological storage of all remaining life-cycle CO2e emissions from plant construction & decommissioning, CO2 T&S network operation and the natural gas supply chain (operational CO2e emissions and methane leakage) increases the median Cost of CO2 Avoided to 178 £/tCO2 (130–371 £/tCO2), leading to the novel conclusion that a market mechanism equating to a CO2 price of over 178£/tCO2 is likely sufficient to incentivise the development of truly CO2-neutral CCGTs.

Optimal sizing and economic assessment of grid connected active distribution network for reliable rural electrification in India

Majority of rural areas in India have already been electrified, yet the disparity between demand and supply is considerably higher and broadened due to which nation’s rapid financial growth as well as rising standards of living in both the urban as well as rural areas. Hence, the utilisation of renewable resources is rising steadily for the mitigation of such energy crisis. It has become necessity to use a hybrid sustainable energy system by exploiting the strengths of each source in combination with one another to minimise the dependence on the congested power grid. For the efficient use of readily available renewable energy and sustainable rural electrification, this study proposes an effective Active Distribution Network (ADN). A comprehensive techno-economic analysis has been performed on the design of an ADN system that includes the exploitation of solar and biomass energy as sources of power for sustainable rural electrification. In the proposed work, performance assessment elements such as output responses, component costs, feasibility and sensitivity of the project, emissions, inflation rate, and changing the pricing of integrant have been taken into consideration and analysed. Results shows the improvement in rural electrical system while lowering system energy costs along with consideration of environmental impact.

Techno-economic analysis of a hybrid photovoltaic-wind-biomass-battery system for off-grid power in rural Guatemala

Guatemala has made significant progress in improving its electrical infrastructure in recent years. However, most studies and efforts have focused on developing policies that directly benefit the national electrical market, which may cause a lack of attention toward solutions that cater to low-consumption cases, such as residential and rural communities. Therefore, it is vital to consider the needs of these communities while developing policies and solutions to ensure that they also have access to reliable and affordable sources of electricity. This study analyzes the cost-effectiveness and technical performance of a hybrid renewable energy system (HRES) that can meet the power needs of low electricity-consuming households in a rural region of Guatemala. The proposed HRES comprises a hybrid photovoltaic-wind turbine-bio generator coupled to battery storage, which caters to the energy needs of a typical household in Alta Verapaz, a rural area in Guatemala with limited electricity access (64.61%). The research considers three scenarios: I) basic electricity needs for the household, II) increased electricity needs for cooking and water heating, and III) future electricity demand in 2050, considering the role of the renewable energy market. Based on Scenario I, the cost-effective solution is a PV system with a capacity of 5.39 kW and 29 kWh battery capacity, with a cost of energy (COE) of 0.893 $/kWh. In Scenario II, a hybrid solution consisting of a 2.46 kW PV system, a 2.20 kW bio-generator, and 16 kWh battery capacity o, results in a COE of 0.605 $/kWh. Scenario III suggests a hybrid system, including 7.90 kW of PV, 3.30 kW bio-generator, and 14 kWh battery to meet the expected energy demand in 2050. COE for this solution is estimated to be 0.297 $/kWh. Considering the declining costs of renewable energy technologies by 2050, the findings highlight that the proposed HRES can be an affordable solution for low-consumption scenarios such as off-grid areas in Guatemala.

Techno-economic analysis of blue ammonia synthesis using cryogenic CO2 capture Process-A Danish case investigation

Ammonia is a vital chemical with numerous applications. Currently, the primary methods for generating the necessary reactants for ammonia production involve steam methane reforming (SMR) and cryogenic air separation unit (CASU), while the Haber-Bosch process converts these reactants into ammonia. However, the SMR process releases substantial amounts of CO2, making it imperative to employ an efficient and cost-effective CO2 capture technology to mitigate emissions. This investigation focuses on evaluating the cryogenic CO2 capture (CCC) process for blue ammonia production and provides a thorough economic analysis, estimating both the initial investment costs and operational expenses involved in producing blue ammonia. The results indicated that the CCC process can capture 90% of the CO2 content in the flue gas emitted by the SMR, incurring an energy penalty of 0.724 MJe/kgCO2 while capturing CO2 in the liquid phase with purities exceeding 99.9%. In this case, the estimated CO2 capture costs would be 18.05, 45.1, and 16.65 USD/ton in 2021, 2022, and 2023, respectively. This represents a 40% reduction compared to the CO2 capture costs associated with conventional amine-based technology. The results of this study indicate that the annual electricity costs for ammonia production increase by 38.5% and 64.2% when employing the CCC and amine-based processes, respectively. This investigation employed an isothermal reactor for ammonia synthesis, using the heat from the exothermic reaction in a water ammonia absorption refrigeration cycle (ARC) to condense and purify ammonia. The results show that the ARC system can effectively condense ammonia at −6 °C, producing a liquid ammonia stream with 99.3% purity. This leads to a 95% reduction in power consumption compared to a vapor compression refrigeration cycle (VCRC). Consequently, this method has the potential to decrease the annual operational costs for ammonia production by 2.92%, 2.69%, and 3.13% in 2021, 2022, and 2023, respectively. This study indicated that the hydrogen production unit incurs the highest initial investment costs, as well as operating costs, in the blue ammonia production process, followed by CASU and the Haber-Bosch process.

Parabolic trough concentrator design, characterization, and application: solar wastewater purification targeting textile industry dyes and pharmaceuticals—techno-economic study

AbstractSolar energy, along with other renewable resources, has the potential to be a major contributor to solving environmental issues in the future, as illustrated by the most recent advancements in solar photocatalytic technology. Indeed, wastewater treatment using a parabolic solar collector for industrial processes is gaining ground owing to improved system performance and economic benefits. The fabricated parabolic trough collector (PTC) incorporates reflective, parabolic panels that focus solar energy onto a transparent tube positioned along the parabolic focal line, where solar-powered photochemical reactions occur. This study investigated the design, implementation, and effectiveness of a concentrated sunlight system for removing industrial dyes and emerging large-use pharmaceutical contaminants in the presence of H2O2 at a small demonstrator scale (10 L/h). A spectrophotometric assessment revealed that subjecting Remazol Brilliant Blue (RBB, 60 ppm) and ciprofloxacin (CIP, 10 ppm) to irradiation in the presence of 0.1 M H2O2 (RBB) or 0.01 M H2O2 (CIP) for 3 h resulted in a degradation rate exceeding 60% and 80%, respectively. Furthermore, the total organic content (TOC) analysis indicates a very high total removal yield for RBB. On these bases, a techno-economic analysis is produced, and economic viability is discussed. The data reveal that the annual costs for water treatment, considering investment, electricity, and catalyst expenses over a 12-month period are significantly lower for our PTC-based prototype than for a comparable artificial UV-based equipment.

Boosting carbon utilization efficiency for sustainable methanol production from biomass: Techno-economic and environmental analysis

Concerns about depleted fossil fuels and the climate crisis have intensified the interest in producing biomass-derived methanol. However, the traditional biomass-to-methanol (BTM) process suffers from low carbon conversion ability and serious CO2 emissions caused by the water–gas-shift (WGS) unit. In this study, three novel BTM processes coupled with solid oxide electrolysis, methane pyrolysis, and methane chemical looping technologies are proposed to eliminate WGS unit, and the systematic heat integration is considered to achieve energy cascade utilization. Meanwhile, process performances are comprehensively evaluated to compare the technical, economic, and environmental attractiveness of three novel BTM processes. It is found that compared with the original BTM process, three novel processes significantly improve carbon efficiency by 22%. Meanwhile, CO2 emissions are reduced by 60%. Moreover, the application of methane chemical looping technology is more economical, and the associated net production cost decreases by more than 30%. Additionally, the BTM process coupled with solid oxide electrolysis is more environmentally friendly, whereas the process with methane pyrolysis technology is more exergy-efficient. Overall, the integrated processes have significant application prospects for carbon conversion and mitigation ability as well as economic attractiveness.

Expression of soluble moloney murine leukemia virus-reverse transcriptase in Escherichia coli BL21 star (DE3) using autoinduction system.

Autoinduction systems in Escherichia coli can control the production of proteins without the addition of a particular inducer. In the present study, we optimized the heterologous expression of Moloney Murine Leukemia Virus derived Reverse Transcriptase (MMLV-RT) in E. coli. Among 4 autoinduction media, media Imperial College resulted the highest MMLV-RT overexpression in E. coli BL21 Star (DE3) with incubation time 96h. The enzyme was produced most optimum in soluble fraction of lysate cells. The MMLV-RT was then purified using the Immobilized Metal Affinity Chromatography method and had specific activity of 629.4U/mg. The system resulted lower specific activity and longer incubation of the enzyme than a classical Isopropyl ß-D-1-thiogalactopyranoside (IPTG)-induction system. However, the autoinduction resulted higher yield of the enzyme than the conventional induction (27.8%). Techno Economic Analysis revealed that this method could produce MMLV-RT using autoinduction at half the cost of MMLV-RT production by IPTG-induction. Bioprocessing techniques are necessary to conduct to obtain higher quality of MMLV-RT under autoinduction system.

Techno economic analysis of the production of potato powder applying potato starch purification system in Japan

To implement the technology for producing potato powder, significant investment is required. This study evaluated the techno-economic feasibility of the dried potato powder production process, based on a scenario developed in a starch plant process in Japan. The simulation was performed with SuperPro Designer® software. The annual production volume and the unit production cost were estimated to be 15,786,585 kg and 1056 Japanese yen/kg, respectively. According to economic evaluation indicators—the gross margin, return on investment, payback time, internal rate of return, and net present value (at a 7% interest rate)—the scenario was profitable and investment worthwhile. A sensitivity analysis was conducted to evaluate the impact of the variable parameters (the purchasing price of raw potatoes, the selling price of potato powder, and labor and electricity costs) on the net present value (at the 7% interest rate). The analysis suggested that the purchasing price of raw potatoes and the selling price of potato powder had particularly large impacts on the net present value.

Optimization and analysis of methanol production from CO2 and solar-driven hydrogen production: A Danish case study

This paper presents a comprehensive techno-economic analysis of the world's first large-scale commercial Power-to-X (PtX) plant in Kassø, Denmark. This innovative facility combines solar photovoltaic (PV), an electrical grid, green hydrogen production, methanol synthesis, and district heating in an integrated system. We conduct an in-depth analysis to explore optimal operating conditions, the potential for sector coupling within the power and heat sectors, and the economic feasibility of the integrated system. In particular, we study different scenarios considering changes in solar PV power generation, electricity market price, CO2 price, and methanol price to explore their impacts on the system performance. Our results show that the electrolyzer's operation, a pivotal component of the system, heavily depends on the electricity spot price as well as the methanol price. Based on the green production of methanol, a premium price of 4800 DKK/t (0.64 €/t) is considered in this study (selling price of 8400 DKK/t). The results show that in case of high electricity prices (2022 spot market) or no premium price for methanol, the optimum annual production of methanol decreases by 58% and 67%, respectively. Furthermore, we observe that the variability of solar power output significantly impacts the plant's performance and economic viability, as it supplies about 30% of the plant's power consumption. Although the results are unique to the Kassø plant, the study's techniques and insights can be applied to other comparable systems around the world. The study also highlights how crucial it is to take market, climate, and technical factors into account when developing and running integrated energy systems.

Techno-economic assessment of renewable hydrogen production for mobility: A case study

Renewable hydrogen produced by water electrolysis from intermittent energy sources (i.e. sun and wind) is considered one of the most promising energy carriers for the decarbonisation of the so-called “hard-to-abate” sectors, especially heavy-duty transport and industry. To this reason, several new projects are currently under development and public fundings are widely available to boost the renewable hydrogen market. In this fast-changing scenario, this paper presents the techno-economic analysis of an integrated system where renewable power generation, electrolytic hydrogen production and final hydrogen use are closely integrated within a specific site, allowing higher efficiency as well as a containment of hydrogen production and handling cost. The analysis here presented considers a specific case study that includes a 12.5 MWP photovoltaic plant, a 5 MW electrolyser capable to produce nearly 300 t/yr. of renewable hydrogen, and a compression and storage system, all located in Sardinia (Italy). Differently from previous studies, this work faces the analysis from two opposite perspectives: on the one hand, it allows the assessment of the levelized cost of hydrogen during the whole project’s life, making the results comparable to those from other similar analyses; on the other hand, it presents the calculation of project’s profitability in terms of net present value, internal rate of return and payback time from the perspective of a potential investor. The analysis shows that a whole investment of about 20.3 M€ is required, which allows to achieve a levelised cost of hydrogen of 4.09 €/kg, which can decrease to 2.97 €/kg considering the revenues from selling oxygen and the overproduction of electricity. The potential use of renewable hydrogen in urban public transport (by means of fuel cell electric vehicles) has been considered as well, in comparison with conventional diesel buses. Despite the lower cost for fuel (0.41 €/km for hydrogen buses vs. 0.72 €/km for diesel buses) and maintenance and repair (0.20 €/km vs. 0.27 €/km), as well as the lower CO2 emission (some 76 t/yr. saved per bus), the very high investment cost for hydrogen-fuelled buses (up to 720,000 €) makes hydrogen still not competitive with diesel for urban transport, being hydrogen buses characterised by a whole specific transport cost of 1.45 €/km, to be compared with 1.04 €/km for diesel buses.

Photothermal CO2 Catalysis toward the Synthesis of Solar Fuel: From Material and Reactor Engineering to Techno-Economic Analysis.

Carbon dioxide (CO2), a member of greenhouse gases, contributes significantly to maintaining a tolerable environment for all living species. However, with the development of modern society and the utilization of fossil fuels, the concentration of atmospheric CO2 has increased to 400ppm, resulting in a serious greenhouse effect. Thus, converting CO2 into valuable chemicals is highly desired, especially with renewable solar energy, which shows great potential with the manner of photothermal catalysis. In this review, recent advancements in photothermal CO2 conversion are discussed, including the design of catalysts, analysis of mechanisms, engineering of reactors, and the corresponding techno-economic analysis. A guideline for future investigation and the anthropogenic carbon cycle are provided.

Techno-Economic Analysis of Dimethyl Ether Production from Different Biomass Resources and Off-Grid Renewable Electricity

Techno-Economic Analysis of Dimethyl Ether Production from Different Biomass Resources and Off-Grid Renewable Electricity

Integral multi-valorization of agro-industrial wastes: A review

Agriculture and industries related to the agriculture sector generate a large amount of waste each year. These wastes are usually burned or dumped, causing damage to the environment, the economy and society. Due to their composition, they have great potential for obtaining high value-added products in biorefineries. This fact, added to the growing demand for energy and chemicals from fossil resources, is driving the interest of the scientific community in them.Biorefinery processes are hardly profitable when applied individually, so a better alternative is to develop integrated multi-feedstock and multi-product biorefinery schemes using all biomass fractions in a zero-waste approach. However, for industrial scale application, extensive research, scale-up studies, and techno-economic and environmental feasibility analyses are needed. This review compiles information on integrated multi-biorefinery processes from agro-industrial wastes to shed light on the path towards sustainable development and circular bioeconomy.

An optimal standalone wind-photovoltaic power plant system for green hydrogen generation: Case study for hydrogen refueling station

Sustainability goals include the utilization of renewable energy resources to supply the energy needs in addition to wastewater treatment to satisfy the water demand. Moreover, hydrogen has become a promising energy carrier and green fuel to decarbonize the industrial and transportation sectors. In this context, this research investigates a wind-photovoltaic power plant to produce green hydrogen for hydrogen refueling station and to operate an electrocoagulation water treatment unit in Ostrava, Czech Republic's northeast region. The study conducts a techno-economic analysis through HOMER Pro® software for optimal sizing of the power station components and to investigate the economic indices of the plant. The power station employs photovoltaic panels and wind turbines to supply the required electricity for electrolyzers and electrocoagulation reactors. As an off-grid system, lead acid batteries are utilized to store the surplus electricity. Wind speed and solar irradiation are the key role site dependent parameters that determine the cost of hydrogen, electricity, and wastewater treatment. The simulated model considers the capital, operating, and replacement costs for system components. In the proposed system, 240 kg of hydrogen as well as 720 kWh electrical energy are daily required for the hydrogen refueling station and the electrocoagulation unit, respectively. Accordingly, the power station annually generates 6,997,990 kWh of electrical energy in addition to 85595 kg of green hydrogen. Based on the economic analysis, the project's NPC is determined to be €5.49 M and the levelized cost of Hydrogen (LCH) is 2.89 €/kg excluding compressor unit costs. This value proves the effectiveness of this power system, which encourages the utilization of green hydrogen for fuel-cell electric vehicles (FCVs). Furthermore, emerging electrocoagulation studies produce hydrogen through wastewater treatment, increasing hydrogen production and lowering LCH. Therefore, this study is able to provide practicable methodology support for optimal sizing of the power station components, which is beneficial for industrialization and economic development as well as transition toward sustainability and autonomous energy systems.

Levelized cost of hydrogen production in Northern Africa and Europe in 2050: A Monte Carlo simulation for Germany, Norway, Spain, Algeria, Morocco, and Egypt

The production of green hydrogen through electrolysis, utilizing renewable energies, is recognized as a pivotal element in the pursuit of decarbonization. In order to attain cost competitiveness for green hydrogen, reasonable generation costs are imperative. To identify cost-effective import partners for Germany, given its limited green hydrogen production capabilities, this study undertakes an exhaustive techno-economic analysis to determine the potential Levelized Cost of Hydrogen in Germany, Norway, Spain, Algeria, Morocco, and Egypt for the year 2050, which represents a critical milestone in European decarbonization efforts. Employing a stochastic approach with Monte Carlo simulations, the paper marks a significant contribution for projecting future cost ranges, acknowledging the multitude of uncertainties inherent in related cost parameters and emphasizing the importance of randomness in these assessments. Country-specific Weighted Average Cost of Capital are calculated in order to create a refined understanding of political and economic influences on cost formation, rather than using a uniform value across all investigated nations. Key findings reveal that among the evaluated nations, PV-based hydrogen emerges as the most cost-efficient alternative in all countries except Norway, with Spain presenting the lowest Levelized Cost of Hydrogen at 1.66 €/kg to 3.12 €/kg, followed by Algeria (1.72 €/kg to 3.23 €/kg) and Morocco (1.73 €/kg to 3.28 €/kg). Consequently, for economically favorable import options, Germany is advised to prioritize PV-based hydrogen imports from these countries. Additionally, hydrogen derived from onshore wind in Norway (2.24 €/kg to 3.73 €/kg) offers a feasible import alternative. To ensure supply chain diversity and reduce dependency on a single source, a mixed import strategy is advisable. Despite having the lowest electricity cost, Egypt shows the highest Levelized Cost of Hydrogen, primarily due to a significant Weighted Average Cost of Capital.