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

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  • Matzen, Michael
  • Alhajji, Mahdi
  • Demirel, Yaşar

Abstract

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.

Suggested Citation

  • Matzen, Michael & Alhajji, Mahdi & Demirel, Yaşar, 2015. "Chemical storage of wind energy by renewable methanol production: Feasibility analysis using a multi-criteria decision matrix," Energy, Elsevier, vol. 93(P1), pages 343-353.
    • Handle: RePEc:eee:energy:v:93:y:2015:i:p1:p:343-353
    DOI: 10.1016/j.energy.2015.09.043
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    15. Ma, Qian & Chang, Yuan & Yuan, Bo & Song, Zhaozheng & Xue, Jinjun & Jiang, Qingzhe, 2022. "Utilizing carbon dioxide from refinery flue gas for methanol production: System design and assessment," Energy, Elsevier, vol. 249(C).
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