The integration of renewable energy sources and the need for decarbonization have created the need for the development of flexible plants and efficient methods for direct and/or indirect energy storage. This paper analyzes the operation of a facility that includes an electrolyzer for green hydrogen production, a gas turbine that utilizes hydrogen blending, and a hydrogen storage system. Given the increasing volatility of electricity prices, the flexibility of such a system can play a key role in its economic viability. However, the question remains whether the expected benefits are sufficient to justify the initial investment and operational costs. System operation simulations were performed using the Plexos software tool, analyzing various system configurations and their sensitivity to changes in electricity and natural gas market conditions. The study presents operational and performance indicators, including total revenue from electricity sales, operating costs, fuel costs, and CO₂ emissions. Additionally, financial indicators such as net present value (NPV), internal rate of return (IRR), and others were evaluated based on assumed capital expenditures (CAPEX) and operating and maintenance costs (OPEX). Although the results indicate that certain strategies can improve the system’s economic sustainability, key challenges remain: high initial investments, dependence on unstable electricity and natural gas prices, and regulatory uncertainty regarding hydrogen. Therefore, while hydrogen-based solutions hold significant potential, their long-term market viability requires further research and a more realistic risk assessment.
Dinčić et al. (Wed,) studied this question.