Technical feasibility and financial analysis of hybrid wind–photovoltaic system with hydrogen storage for Cooma

• Published in: International journal of hydrogen energy Vol. 30; no. 1; pp. 9 - 20
• Main Authors: Shakya, B.D., Aye, Lu, Musgrave, P.
• Format: Journal Article
• Language: English
• Published: Oxford Elsevier Ltd 2005; Elsevier
• Subjects: Alternative fuels. Production and utilization; Applied sciences; Energy; Exact sciences and technology; Financial analysis; Fuels; Hybrid wind–photovoltaic system; Hydrogen; Renewable energy storage; Hybrid wind–photovoltaic system; Renewable energy storage; Hydrogen; Financial analysis; Costs; Hydrogen storage; Compressed gas; Project; Hybrid wind-photovoltaic system; Wind energy; Renewable energy; Solar energy; Feasibility; Cost lowering; Energy storage
• ISSN: 0360-3199; 1879-3487
• DOI: 10.1016/j.ijhydene.2004.03.013

The feasibility of a stand-alone hybrid wind–photovoltaic (PV) system incorporating compressed hydrogen gas storage was studied for Cooma (Australia). Cooma has an average annual solar and wind energy availability of 1784 and
932
kWh/
m
2
, respectively. A system with
69
kWh
e
/
day
(load) and
483
kWh
e
(storage) was studied. Hydrogen is generated in electrolysers using excess electricity from the system. The system components were selected according to their availability and cost. The “discounted cash flow” method, with the “levelized energy cost” (LEC) as a financial indicator was used for analysis. Configurations with PV% of 100, 60, 12 and zero were analysed. The lowest LEC of AU $2.52/kWh
e was found for 100% PV. The cost of hydrogen generation from 100% PV was AU $692/GJ of hydrogen. Fifty-two percent of the total project costs were due to the electrolyser. Hence, a reduction in the electrolyser cost would reduce the cost of the overall system.