Bidding optimization for hydrogen production from an electrolyzer

This paper presents a comprehensive study on the bidding optimization for hydrogen production from an electrolyzer, focusing on a single day comprising 24 hours. With the rising demand for clean energy sources, the research aims to optimize profitability and efficiency in hydrogen production. The primary objective is to maximize profit while ensuring the fulfillment of the targeted hydrogen production by the end of the day. The optimization formulation incorporates electrolyzer maintenance, electricity, and water consumption costs. The model considered two cases with different electrolyzer efficiency values to optimize power usage, allowing for a comprehensive analysis of hydrogen production optimization. Ramping limits are imposed to maintain power system stability and reliability, preventing sudden fluctuations. By solving the formulated equations and considering factors such as energy and water prices, the research findings demonstrate the effectiveness of the bidding optimization approach in optimizing resource utilization and maximizing profit. Notably, the model successfully achieves the targeted hydrogen production by the end of the day while maximizing profit. This research contributes valuable insights into the bidding optimization process for hydrogen production, highlighting the potential for economic and sustainable hydrogen generation from electrolyzers.