Chemical and Biomolecular Engineering, Department of
Chemical storage of wind energy by renewable methanol production: Feasibility analysis using a multi-criteria decision matrix
Date of this Version
Published in Energy 93 (2015), pp. 343–353. 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.
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