Economic impact assessment of Hydrogen generated from Offshore Wind: A case study for Belgium

Maëlig Gaborieau*, Ozlem Ceyhan Yilmaz, Katherine Dykes

*Corresponding author for this work

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Abstract

Green hydrogen is increasingly cited as a solution to the decarbonisation of industry. Its large-scale production is still a recent topic with uncertainties. In this paper, an economic impact assessment (EIA) method is explained. A modular and flexible cost model is generated, which estimates the LCOE (Levelized Cost of Energy) of an offshore wind farm and the LCOH (Levelized Cost of Hydrogen) of a hydrogen generation plant either as a hybrid renewable energy system (HRES) or independent from each other. The costs are estimated using a schedule-based approach, which considers the reliability, maintenance operations as well as production of both the offshore wind farm and the hydrogen generation plant. Developed EIA is demonstrated for Belgium using Mermaid Offshore Wind Farm.
Original languageEnglish
Title of host publicationWindEurope Annual Event 2023
EditorsAmir R. Nejad
Number of pages12
Volume2507
PublisherIOP Publishing
Publication date2023
Article number012012
DOIs
Publication statusPublished - 2023
EventWindEurope Annual Event 2023 - Copenhagen, Denmark
Duration: 25 Apr 202327 Apr 2023

Conference

ConferenceWindEurope Annual Event 2023
Country/TerritoryDenmark
CityCopenhagen
Period25/04/202327/04/2023
SeriesJournal of Physics: Conference Series
ISSN1742-6588

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