Chemical storage of wind energy by renewable methanol production: Feasibility analysis using a multi-criteria decision matrix

• Published in: Energy (Oxford) Vol. 93; pp. 343 - 353
• Main Authors: Matzen, Michael, Alhajji, Mahdi, Demirel, Yaşar
• Format: Journal Article
• Language: English
• Published: Elsevier Ltd 01.12.2015
• Subjects: Carbon dioxide; CO2 fixation; Costs; Decision analysis; Economic analysis; Electrolytic hydrogen; Feasibility analysis; Hydrogen production; Integrals; Methanol production; Methyl alcohol; Multi-criteria decision matrix; Sustainability metrics; Technoeconomic analysis; Technoeconomic analysis; CO2 fixation; Sustainability metrics; Multi-criteria decision matrix; Electrolytic hydrogen; Methanol production
• ISSN: 0360-5442
• DOI: 10.1016/j.energy.2015.09.043

This study is for the technoeconomic analysis of an integral facility consisting of wind energy-based electrolytic hydrogen production, bioethanol-based carbon dioxide capture and compression, and direct methanol synthesis. ASPEN Plus was used to simulate the facility producing 97.01 mt (metric tons) methanol/day using 138.37 mt CO2/day and 18.56 mt H2/day. A discounted cash flow diagram for the integral facility is used for the economic analysis at various hydrogen production costs and methanol selling prices. The feasibility analysis is based on a multi-criteria decision matrix consisting of economic and sustainability indicators comparing renewable and non-renewable methanol productions. The overall energy efficiency for the renewable methanol is around 58%. Fixation of carbon reduces the CO2 equivalent emission by around −1.05 CO2e/kg methanol. The electrolytic hydrogen production cost is the largest contributor to the economics of the integral facility. The feasibility analysis based on multi-criteria shows that renewable methanol production may be feasible. [Display omitted] •We simulate renewable methanol production from wind-based hydrogen and CO2.•Methanol production can fix 1.05 kg CO2/kg methanol with an energy efficiency of 58%.•Economic and sustainability metrics are estimated for the integral facility.•We introduce a decision matrix with both economic and sustainability indicators.•Renewable methanol may be feasible versus conventional fossil fuel-based methanol.