Economic Analysis of Solid Oxide Fuel Cell Systems Utilizing Natural Gas as Fuel

Abstract

Solid oxide fuel cell power generation systems are devices that utilize solid electrolytes to transfer ions for electrochemical energy conversion. A wide range of gases can be used as fuel gas, including hydrogen, natural gas, and carbon monoxide. Considering the high cost of pure hydrogen, hydrogen production from natural gas reforming has become a hot research area. In this study, the 4F-LCA method was employed to construct an evaluation framework, with a particular emphasis on the cost analysis of solid oxide fuel cell power generation systems, and uses a bottom-up approach to build a system economic analysis model to visualize the major costs involved in the system. An economic benefit analysis and sensitivity analysis were carried out for the 2 kW natural gas solid oxide fuel cell as a case by taking the financial net present value (NPV), internal rate of return (IRR) and payback period into account. In this study, the investment cost and payback period of a 2 kW solid oxide fuel cell system are obtained, which can provide a reference for the project construction and operation of solid oxide fuel cell systems.