H2COST - RAPID ESTIMATION OF H2 INFRASTRUCTURE ECONOMIC FEASIBILITY
H2Cost represents a noteworthy milestone within the COMET project ReNEW – Renewable Energy and Hydrogen System Simulation. It provides a pragmatic solution for assessing the economic feasibility of hydrogen infrastructures in an early project phase within minutes. Developed as a Python-based standalone tool, H2Cost is currently in the extended testing phase with active involvement from the project partners in the energy and gas sectors, contributing to its refinement.
Simple Use and Flexible Parameterisation Options:
The tool's primary strength lies in its swift calculation of key economic values, enabling users to obtain crucial insights.
Operating in accordance with the ÖVE/ÖNORM EN 17463 (VALERI) standard, H2Cost employs a straightforward approach by utilizing the technical and economical parameters of the plants core components. The hydrogen infrastructure can be built up freely for each project from the main plant components, including electrolysis system, storage, compression and energy supply.
For easy and fast estimations, the tool offers predefined techno-economical state-of-the-art default values for all selectable infrastructure systems. These technical and economical parameters can be customized by the user to match project specific values. Technical parameters include efficiency, pressure-levels or mass flows. Economic parameters include price for electricity, investment and reinvestment costs.
Economic Evaluation and Key Performance Indicators:
After the swift definition of the infrastructure, the calculation of the economic feasibility, including key performance indicators (KPIs) is enabled.
The calculated KPIs include the net present value of capital and operating expenditures, produced hydrogen mass and Levelized Costs of Hydrogen (LCOH). With the sales price for e.g. the produced hydrogen, the Contribution Margin on Invest (CMOI) and the Return on Invest (ROI) is calculated. Operating and investment subsidies can be taken into account in the calculation.
Enabling Decision Making for Hydrogen Projects:
The compliance to industry standards ensures accuracy and reliability in economic calculations, establishing H2Cost as a dependable tool for decision-making in the early stage of hydrogen projects. This facilitates the process of evaluating the economic feasibility evaluation of hydrogen initiatives, making H2Cost an accessible and practical tool for technical and scientific audiences, as well as hydrogen infrastructure operators.
Project partners
- Andritz AG, Austria
- OMV Exploration & Production, Austria
- Energienetze Steiermark GmbH, Austria
- TÜV SÜD Landesgesellschaft Österreich GmbH, Austria
- OMV Downstream GmbH, Austria
- VERBUND AG, Austria
- Voestalpine Stahl Donawitz GmbH, Austria
- Wien Energie GmbH, Austria
- Austrian Institute of Technology GmbH, Austria
- Forschungszentrum Jülich GmbH, Germany
- K1-MET GmbH, Austria
- Institute of Thermodynamics and Sustainable Propulsion Systems GmbH, Austria
- BEST – Bioenergy and Sustainable Technologies GmbH, Austria