Hydrogen storage in geological formations in the EU. An empirical assessment of cost and cost development
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Bachelor Thesis from the year 2024 in the subject Energy Sciences, grade: 1,7, University of Cologne (Chair in Energy Economics), language: English, abstract: My thesis aims to investigate and answer the question: What is the levelized cost of hydrogen storage (LCOHS) in salt caverns in the EU, and how will it develop in the future? The research status on this topic is currently limited; LCOHS assessments are theoretical. Storing hydrogen in salt caverns is a method with confined experience. Currently, several research projects are being conducted and have been conducted throughout Europe. The...
Bachelor Thesis from the year 2024 in the subject Energy Sciences, grade: 1,7, University of Cologne (Chair in Energy Economics), language: English, abstract: My thesis aims to investigate and answer the question: What is the levelized cost of hydrogen storage (LCOHS) in salt caverns in the EU, and how will it develop in the future? The research status on this topic is currently limited; LCOHS assessments are theoretical. Storing hydrogen in salt caverns is a method with confined experience. Currently, several research projects are being conducted and have been conducted throughout Europe. Therefore, the theoretical nature of the topic of salt cavern hydrogen storage will be eased in the coming years and decades. The research question will be investigated in the following way: The first chapter will provide an overview of essential technical aspects, provide insight into the economics of salt cavern storage, and present the geological storage potential in the EU and Europe. After having provided a basis for the topic, the next step will be to outline storage facilities that will be used to investigate the LCOHS in salt caverns. Important aspects are the utilization of storage facilities and the components of a storage facility. The workflow of storing hydrogen will be presented, along with explanations of why specific components are needed and their purpose. With the knowledge and insights gained up to this point, it is possible to enrich the presented components with cost estimates. Cost estimates, how they have been obtained, and further input data will be delivered next. Having combined all the necessary information, the LCOHS is calculated. The levelized cost of hydrgen storage is used to identify the true cost of a storage technology. It takes into account the technical lifetimes of the components, capital costs, and operating and maintenance costs. It calculates the total cost of a storage technology per delivered output unit. LCOHS represents a hydrogen storage facility's average net present cost over its lifetime. LCOHS estimates will then be discussed and put into perspective. With the calculated LCOHS values, possible future developments of the LCOHS will be investigated based on technological learning and price developments.
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