Techno-economic analysis of anion exchange membrane electrolysis process for green hydrogen production under uncertainty

Hydrogen produced via water electrolysis is considered a green energy source that supports a carbon-neutral future. Compared with conventional water electrolysis, anion exchange membrane (AEM) water electrolysis with its low cost and high performance is a promising technology. To identify the feasibility of the large-scale process application of AEM, performance verification and economic analysis based on a high-fidelity model are essential. This study presents a first-principles-based model and feasibility study results for a 10 MW AEM water electrolysis system. The cost differences between the key components of the proton exchange membrane (PEM) and AEM electrolysis processes were identified using a breakdown cost estimation approach for the polymer membrane water electrolysis process. In terms of catalyst and stack costs, AEM is approximately 36.2% and 25.9% less expensive than PEM, respectively. The levelized cost of hydrogen (LCOH) for AEM water electrolysis process was analyzed based on wind and solar electricity, and the future potential of the technology was discussed. As technological advances improve the levelized cost of energy (LCOE), water electrolysis stack lifetime, and renewable energy efficiency, the LCOH of AEM and PEM processes are expected to improve significantly in the future. In particular, AEM water electrolysis would be highly attractive if AEM stack lifetime is developed to the same level as that of PEM.