Value assessment of hydrogen-based electrical energy storage in view of electricity spot market

Shi You, Junjie Hu, Yi Zong, Jin Lin

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Abstract

Hydrogen as an energy carrier represents one of the most promising carbon-free energy solutions. The ongoing development of power-to-gas (PtG) technologies that supports large-scale utilization of hydrogen is therefore expected to support hydrogen economy with a final breakthrough. In this paper, the economic performance of a
MW-sized hydrogen system, i.e. a composition of water electrolysis, hydrogen storage, and fuel cell combined heat and power plant (FCCHP), is assessed as an example of hydrogen-based bidirectional electrical energy storage (EES). The analysis is conducted in view of the Danish electricity spot market that has high price volatility due to
its high share of wind power. An economic dispatch model is developed as a mixed-integer programming (MIP) problem to support the estimation of variable cost of such a system taking into account a good granularity of the technical details. Based on a projected technology improvement by 2020, sensitivity analysis is conducted to
illustrate how much the hydrogen-based EES is sensitive to
variations of the hydrogen price and the capacity of hydrogen storage.
Original languageEnglish
JournalJournal of Modern Power Systems and Clean Energy
Volume4
Issue number4
Pages (from-to)626-635
ISSN2196-5625
DOIs
Publication statusPublished - 2016

Bibliographical note

The Author(s) 2016. This article is published with open access at Springerlink.com

Keywords

  • Electrical energy storage (EES)
  • Electricity spot market
  • Fuel cell combined heat and power plant (FCCHP)
  • Hydrogen
  • Hydrogen storage
  • Mixed-integer programming (MIP)

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