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Wind energy is a cornerstone for enhancing grid stability and augmenting energy storage solutions, especially through its synergy with green hydrogen production. While substantial research has analyzed the economic dynamics of offshore wind and green hydrogen, the impact of offshore distances on hydrogen production costs remains underexplored. This study introduces a novel, globally applicable modeling framework for the Levelized Cost of Hydrogen (LCOH), illustrated using the strategically significant Taiwan Strait as a case study. By employing net present value analysis, we compare centralized, distributed, and onshore hydrogen production scenarios, documenting the lowest current LCOH values at $10.27, $10.31, and $11.32 per kg of hydrogen respectively. These findings highlight the cost-effectiveness of the centralized configuration and emphasize the significant costs linked to transmission infrastructure in onshore setups. Looking ahead to 2035, our framework predicts substantial reductions in LCOH, with low-cost scenarios forecasting profitability at just $9 per kilogram of hydrogen. Powered by the universally accessible ERA5 reanalysis dataset, our approach supports analogous assessments worldwide, thereby aiding strategic planning and the deployment of renewable technologies. In-depth sensitivity and Monte Carlo analyses further enhance our understanding of the impacts of offshore distance and other key factors, bolstering the economic evaluation of green hydrogen production. This comprehensive methodology not only assesses present capabilities but also facilitates broad application, fostering the strategic development of renewable technologies globally.

Summary: Electric vehicle (EV) purchasing decisions are significantly influenced by costs. Focusing on China, this research comprehensively examines the levelized costs of EV recharging (including charging and swapping) at the provincial level considering various factors, including charging locations, time of charging, and power levels. Results indicate that the national average EV charging costs, with and without home chargers, amount to 0.973 RMB/kWh and 1.148 RMB/kWh, respectively. Remarkable variations are observed among provinces, with Xinjiang and Shanghai experiencing the lowest and highest levelized cost of EV charging (LCOC), respectively, with disparities of up to 147.26%, primarily attributed to regional discrepancies in electricity prices and vehicle usage intensity. Despite generous capital subsidies, swapping costs remain considerably higher than charging, ranging from 3.780 RMB/kWh to 4.082 RMB/kWh. Additionally, the sensitivity analysis of major parameters, including infrastructure utilization, suggests that levelized EV recharging costs are already more cost-attractive than the fuel costs of comparable gasoline cars at today’s utilization rates.

Renewable energy (RE) is pivotal for achieving a net-zero future, with energy storage systems essential for maximizing its utility. This study introduces a modeling framework that simulates large-scale RE deployment in Taiwan, emphasizing hydrogen as a primary storage medium. Utilizing hourly time steps, the model assesses various energy generation and storage configurations to demonstrate the technical feasibility of meeting Taiwan's 2050 net-zero target, which calls for a 60 % RE share primarily through solar and wind resources. However, achieving this target and the ambitious goal of 100 % RE penetration requires substantial enhancements in both generation capacity and storage solutions. The research evaluates the economic impacts by analyzing the levelized cost of energy (LCOE), revealing that optimal configurations, such as a wind capacity of 30 GW with a 5 % minimum capacity factor constraint on electrolyzers, significantly reduce LCOE to $0.176/kWh, underscoring the cost-effectiveness of hydrogen storage compared to battery alternatives in large-scale settings. The study underscores the necessity for ongoing investigations into replacing thermal power plants and maintaining grid stability amidst high RE penetration. To fully harness Taiwan's RE potential and contribute to global sustainability, effective deployment of hydrogen storage will require robust stakeholder support, continual technological advancements, and enabling policies. This framework, while tailored to Taiwan's power system, offers insights applicable to various global contexts.