Optimizing E-Methanol Production: Effect of Electricity Price and Renewable Energy Volatility on Optimum Dimensioning and Operation

DOI

10.2991/978-94-6463-455-6_11How to use a DOI?

Keywords

Power-to-methanol; PtX; methanol; hydrogen; electrolysis; synthesis; flexibility

Abstract

Renewable energy can significantly reduce global CO₂ emissions, both directly by reducing the use of fossil-based energy sources and indirectly through power-to-X pathways. These pathways facilitate the production of various fuels and chemical feedstocks, offering alternatives to fossil-based products. This study focuses on optimizing e-methanol production chain to determine the most economically viable dimensioning of main process components and selection of operation strategy. The optimization task is executed with an open-source energy system modelling framework, considering different electricity supply alternatives, such as grid, wind power and combined wind and solar power. The analyzed system incorporates essential process components for hydrogen, methanol and CO₂ production, along with intermediate storages and alternative power supply profiles. The main finding of the study is that allowing flexible operation and over-dimensioning of the methanol synthesis plant, considerable, up to 46% cost savings can be achieved already in current market scheme. Moreover, the dynamic operation of the e-methanol plant may benefit electricity markets, by shifting demand to periods of electricity overproduction. The results of the study may be used in the planning of future investments, not only for individual plants but also for larger industrial clusters and energy infrastructure networks.

Copyright

© 2024 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Jaakko Hyypiä
AU  - Hannu Karjunen
AU  - Nashmin Hosseinpour
AU  - Eero Inkeri
AU  - Tero Tynjälä
PY  - 2024
DA  - 2024/07/11
TI  - Optimizing E-Methanol Production: Effect of Electricity Price and Renewable Energy Volatility on Optimum Dimensioning and Operation
BT  - Proceedings of the International Renewable Energy Storage and Systems Conference (IRES 2023)
PB  - Atlantis Press
SP  - 99
EP  - 110
SN  - 2589-4943
UR  - https://doi.org/10.2991/978-94-6463-455-6_11
DO  - 10.2991/978-94-6463-455-6_11
ID  - Hyypiä2024
ER  -