Economic Viability Analysis of a Renewable Energy System for Green Hydrogen and Ammonia Production

This paper presents a methodology for assessing the long-term economic feasibility of renewable energy-based systems for green hydrogen and ammonia production. A key innovation of this approach is the incorporation of a predictive algorithm that optimizes day-ahead system operation on an hourly basis, aiming to maximize profit. By integrating this feature, the methodology accounts for forecasting errors, leading to a more realistic economic evaluation. The selected case study integrates wind and PV as renewable energy sources, supplying an electrolyser and a Haber-Bosch ammonia production plant. Additionally, all supporting equipment, including an air separation unit for nitrogen production, compressors, and hydrogen / nitrogen / ammonia storage devices, is also considered. Furthermore, an electrochemical battery is included, allowing for an increased electrolyser load factor and smoother operating regimes. The results demonstrate the effectiveness of the proposed methodology, providing valuable insights and performance indicators for this type of energy systems, enabling informed decision-making by investors and stakeholders.