An economic evaluation of electrolysis in Denmark

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Alexander Nielsen and Oliver Grewal

Bachelor Thesis – Energy Technology - 2018

This study has evaluated hydrogen production through electrolysis for three different markets:
- Hydrogen fuelling station
- Biogas upgrading (methanation)
- Hydrogen injection into the gas transmission grid.

For sensitive data parameters, sensitivity analyses were performed. These parameters include:
- Electricity prices
- Estimated number of hydrogen cars
- Price of hydrogen

Based on the economic assessments of all three cases, this study suggests that the more lucrative of the business cases is the hydrogen injection case. This also holds true for all sensitivity analyses, in which this particular case had the higher NPV of all the cases.


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