• Clean Technology
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• v.26 no.1
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• pp.55-64
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• 2020

According to the Korean Renewable Energy 3020 Implementation Plan, the installation capacity of renewable energy is expected to increase whereas technology for storing excess electricity and stabilizing the power supply of renewable energy sources is extremely required. Power-to-Gas is one of energy storage technologies where electricity is converted into gas fuel such as hydrogen and methane. Basically, Power-to-Gas system could be effectively utilized to store excess electricity generated by an imbalance between supply and demand. In this study, the economic feasibility analysis of Power-to-Gas reflecting the domestic situation was carried out. Total revenue requirement method was utilized to estimate the levelized cost of hydrogen. Validation on the economic analysis method in this study was conducted by comparison of the result, which is published by the International Energy Agency. The levelized cost of hydrogen of a 100-MW Power-to-Gas system reflecting the current economic status in Korea is 8,344 won kg^-1. The sensitivity analysis was carried out, applying the main analysis economic factors such as electricity cost, electrolyser cost, and operating year. Based on the sensitivity analysis, the conditions for economic feasibility were suggested by comparing the cost of producing hydrogen using renewable energy with the cost of producing natural gas reformed hydrogen with carbon capture and storage.

• Transactions of the Korean hydrogen and new energy society
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• v.33 no.6
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• pp.660-673
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• 2022

In achieving carbon neutrality and the hydrogen economy, the estimation of H₂ cost is critical in terms of CCU technologies. This study analyzes LCOH of hydrogen produced by the carbon utilization unit with methane reforming and CO₂ from thermal power plant. LCOH for H₂ made with CO is estimated in three ways of Joint Cost Allocations with financial performance risk assessment. Regarding cost analysis, the zero value of LCOH is $6,003/ton. We found that the CCU technology has economic feasibility in terms of profitability. The sensitivity analysis result shows that the input ratio is more influential to the LCOH than other variables. Risk analysis presents the baseline price of zero value of LCOH - $8,408/ton, which is higher than the cost analysis - $6,003/ton. Mainly, the price variability of natural gas primarily affects the LCOH. The study has significant value in analyzing the financial performance risks as well as the cost of H₂ produced by a Plasma-based CCU system.

• Transactions of the Korean hydrogen and new energy society
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• v.33 no.6
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• pp.643-659
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• 2022

For the economic analysis of fuel cells, levelized cost of electricity was calculated according to the type, capacity, and annual production of the fuel cells. The cost of every component was calculated through the system component breakdown. The direct cost of the system included stack cost, component cost, assembly, test, and conditioning cost, and profit markup cost were added. The effect of capacity and annual production was analyzed by fuel cell type. Sensitivity analysis was performed according to stack life, capital cost, project period, and fuel cost. As a result, it was derived how much the economic efficiency of the fuel cell improves as the capacity increases and the annual production increases.