Table 1. Input and Output Parameters from the Technoeconomic Analysis of Three Electrolyzers.
HOR|CEM|HCO3– | OER|BPM|HCO3– | OER|AEM|CO2 | |
---|---|---|---|
Input Parameters | |||
voltage (V) | 2 | 4 | 3 |
CO2 utilization (%) | 80 | 80 | 40 |
FECO (%) | 80 | 80 | 100 |
j (mA cm–2) | 500 | ||
gross cost of CO2 capture ($/ton) | 50 | ||
installed capex cost ($/kW) | 450 | ||
electricity ($/kWh) | 0.03 | ||
H2 purchase price ($/kg) | 1 | N/A | N/A |
Output Parameters | |||
cost of H2 ($M/yr) | 2.61 | 0.00 | 0.00 |
electricity cost ($M/yr) | 5.24 | 10.48 | 6.29 |
CO2 capture cost ($M/yr) | 1.06 | 1.06 | 2.87 |
CO2 separation cost ($M/yr) | 0.72 | 0.72 | 4.30 |
maintenance and water cost ($M/yr) | 0.25 | 0.49 | 0.3 |
total opex ($M/yr) | 9.88 | 12.75 | 13.75 |
total capex: electrolyzer + balance of plant ($M) | 13.8 | 27.6 | 16.56 |
Revenue from Sale of CO at $0.60/kg ($M/yr) | 21.90 | ||
profit | 11.52 | 8.78 | 7.82 |
NPV 20 yearsa | 48.96 | 23.7 | 28.08 |
The net present value (NPV) was calculated on the basis of a 20 year plant life, 10% interest rate, 38.9% income tax rate, 2.5% fixed operating cost, and a depreciation schedule based on the modified accelerated cost recovery system that was developed by the Department of Energy for water electrolyzer and hydrogen technologies.