Techno-economic Analysis of a Wind/Solar PV Hybrid Power System to Provide Electricity for Green Hydrogen Production

Green hydrogen (GH) is recognized as a fundamental pillar in shaping a sustainable global future. The process involves the hydrolysis of water with sustainable electrical sources. This paper presents a techno-economic assessment of hybrid renewable wind and solar power systems in Yanbu, Saudi Arabia, to provide clean energy to enhance carbon-natural petrochemical operations. The implementation of Energy Compensation Policies, such as Net Energy Metering or Net Energy Billing Mechanisms, has a substantial influence on the financial viability of GH Plant. The present research compared the impact of such a mechanism on the levelized cost of Energy (LCOE) and the Levelized cost of Hydrogen (LCOH). The study recommended the adoption of a Net Metering Mechanism as a highly efficient strategy to encourage private sector investment in renewable energy production in the Kingdom of Saudi Arabia (KSA). This approach was found to be effective, resulting in an accumulated electricity tariff of 26.5 $/MWh and a levelized cost of hydrogen (LCOH) of 1.65 $/kg.