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GREEN HYDROGEN COST REDUCTION 60%. Due to the nearzero short run marginal cost of solar and wind, when they are reach significant generation share in a market interval (e.g. in a onehour period), they drive down electricity prices. Figure 17 shows how hydrogen production follows renewable electricity availability, highlighting an important seasonality in the production of hydrogen. The key message is that hydrogen production from electrolysers can be uniquely positioned to provide seasonal flexibility to the power system – something that no other resource can effectively provide.14 This can play a significant role in balancing a power system with high shares of solar and wind, not only instantaneously and intra-day, but also across seasons. To be able to provide such services, electrolysers must be designed not to operate at full capacity the entire year, but rather to purchase electricity when green15 and affordable. This is only possible if they are sufficiently oversized to avoid purchasing non- renewable electricity, or prohibitively expensive electricity, just to be able to meet hydrogen demand. Figure 16. Power system services that can be provided by energy storage. Based on IRENA analysis, 2020f. Figure 17. 60 50 40 30 20 10 - Based on IRENA analysis. Seasonality of hydrogen production in Europe in the IRENA global power system model for 2050 (based on the TES). Seasonality of hydrogen production in Europe Transforming Energy Scenario 2050 France Germany Italy UK Rest of Europe Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 48 14 15 Hydro power can provide seasonal flexibility. Uncertainty about future availability of water, however, makes multi-season hydro pow- er scheduling one of the most complex stochastic problems in power systems, while electrolysers can simply respond to day ahead as well as intra day electricity prices and provide the same seasonal flexibility when coupled with hydrogen storage. Appropriate mechanisms such as Guarantees of Origin are required to certify that green hydrogen is indeed produced exclusively with renewable electricity. New electrolysis capacity, however, must fundamentally be accompanied by new renewable capacity to provide the necessary green electricity. Monthly hydrogen production (TWh)PDF Image | GREEN HYDROGEN SCALING UP ELECTROLYSERS
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