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@ARTICLE{Kuckshinrichs:827015,
      author       = {Kuckshinrichs, Wilhelm and Ketelaer, Thomas and Koj, Jan
                      Christian},
      title        = {{E}conomic analysis of improved {A}lkaline {W}ater
                      {E}lectrolysis},
      journal      = {Frontiers in energy research},
      volume       = {5},
      number       = {1},
      issn         = {2296-598X},
      address      = {Lausanne},
      publisher    = {Frontiers Media},
      reportid     = {FZJ-2017-01221},
      pages        = {1-21},
      year         = {2017},
      abstract     = {Alkaline water electrolysis (AWE) is a mature hydrogen
                      production technology and there exists a range of economic
                      assessments for available technologies. For advanced AWEs,
                      which may be based on novel polymer-based membrane concepts,
                      it is of prime importance that development comes along with
                      new configurations and technical and economic key process
                      parameters for AWE which might be of interest for further
                      economic assessments. This paper presents an advanced AWE
                      technology referring to 3 different sites in Europe
                      (Germany, Austria, Spain). The focus is on financial
                      metrics, the projection of key performance parameters of
                      advanced AWEs, and further financial and tax parameters. For
                      financial analysis from an investor’s (business)
                      perspective, a comprehensive assessment of a technology not
                      only comprises cost analysis but also further financial
                      analysis quantifying attractiveness and supply/market
                      flexibility. Therefore, based on Cash Flow (CF) analysis, a
                      comprehensible set of metrics may comprise Levelised Cost of
                      Energy or, respectively, Levelised Cost of Hydrogen (LCH)
                      for cost assessment, Net Present Value (NPV) for
                      attractiveness analysis and Variable Cost (VC) for analysis
                      of market flexibility. The German AWE site turns out to
                      perform best in all three financial metrics (LCH, NPV, VC).
                      Though there are slight differences in investment cost and
                      operation and maintenance cost projections for the three
                      sites, the major cost impact is due to the electricity cost.
                      Although investment cost is slightly and labour cost is
                      significantly lower in Spain, the difference can’t
                      outweigh the higher electricity cost compared to Germany.
                      Given the assumption that the electrolysis operators are
                      customers directly and actively participating in power
                      markets, and based on the regulatory framework in the three
                      countries, in this special case electricity cost in Germany
                      is lowest. However, as electricity cost is profoundly
                      influenced by political decisions as well as the
                      implementation of economic instruments for transforming
                      electricity systems toward sustainability, it is hardly
                      possible to further improve electricity price forecasts.},
      cin          = {IEK-STE},
      ddc          = {333.7},
      cid          = {I:(DE-Juel1)IEK-STE-20101013},
      pnm          = {153 - Assessment of Energy Systems – Addressing Issues of
                      Energy Efficiency and Energy Security (POF3-153)},
      pid          = {G:(DE-HGF)POF3-153},
      typ          = {PUB:(DE-HGF)16},
      UT           = {WOS:000399153100001},
      doi          = {10.3389/fenrg.2017.00001},
      url          = {https://juser.fz-juelich.de/record/827015},
}