An economic investigation of the wind-hydrogen projects: A case study

Hydrogen as an energy carrier can play a significant role in reducing environmental emissions if it is produced from renewable energy resources. This research aims to assess hydrogen production from wind energy considering environmental, economic, and technical aspect for the East Azerbaijan province of Iran. The economic assessment is performed by calculation of payback period, levelized cost of hydrogen, and levelized cost of electricity. Since uncertainty in the power output of wind turbines may affect the payback period, all calculations are performed for four different turbine degradation rates. While it is common in the literature to choose the wind turbine based on a single criterion, this study implements Multi-Criteria Decision-Making (MCDM) techniques for this purpose. The results of Step-wise Weight Assessment Ratio Analysis illustrates that economic issue is the most important criterion for this research. The results of Weighted Aggregated Sum Product Assessment shows that Vestas V52 is the most suitable wind turbine for Ahar and Sarab cities, while Eovent EVA120 H-Darrieus is a better choice for other stations. The most suitable location for wind power generation is found to be Ahar, where it is estimated to annually generate 2914.8 kWh of electricity at the price of 0.045 $/kWh, and 47.2 tons of hydrogen at the price of 1.38 $/kg, which result in 583 tons of CO₂ emission reduction.