Cost analysis of hydrogen energy generation

Relatively high energy costs and the perspective of running out fossil fuel natural resources stimulates scientists and engineers all over the world to concentrate their efforts on inventing new sources of energy. For decades, hydrogen technology is considered as source of renewable energy. Hydrogen can be used both as the energy carrier as far as substrate in the chemical industry. Plans for hydrogen utilization as the fuel applied to automotive engines also is under investigation. Lot of works describing various technologies for hydrogen processing have come into being, the ways of production and storing this substance have also been worked out. The important part in analysis is costs of applying fuels with respect to their impact on natural environment. As found, these costs are usually difficult to be estimated. In this paper, the main directions in development of hydrogen technologies were analysed concerning total costs for hydrogen processing. As concluded, overall costs of the technology for both hydrogen generation and electric power production are significantly higher with respect to costs for energy generation by coal-fired power plants. The hydrogen production costs characterized themselves with the highest share in overall costs at hydrogen economy, and they depend on technology development. It is expected that overall costs of production, transportation and storage of hydrogen should be remarkably reduced in short-medium term future because of development in: photovoltaic technology – that will contribute to reduce hydrogen production costs by electrolysis process. Additionally, it is expected to reduce costs for hydrogen storage.