Exergoeconomic assessment of a geothermal assisted high temperature steam electrolysis system

Exergoeconomic formulations and procedure including exergy flows and cost formation and allocation within a high temperature steam electrolysis (HTSE) system are developed, and applied at three environmental temperatures. The cost accounting procedure is based on the specific exergy costing (SPECO) methodology. Exergy based cost-balance equations are obtained by fuel and product approach. Cost allocations in the system are obtained and effect of the second-law efficiency on exergetic cost parameters is investigated. The capital investment cost, the operating and maintenance costs and the total cost of the system are determined to be 422.2, 2.04, and 424.3 €/kWh, respectively. The specific unit exergetic costs of the power input to the system are 0.0895, 0.0702, and 0.0645 €/kWh at the environmental temperatures of 25°C, 11°C, and -1°C, respectively. The exergetic costs of steam are 0.000509, 0.000544, and 0.000574 €/kWh at the same environmental temperatures, respectively. The amount of energy consumption for the production of one kg hydrogen is obtained as 133kWh (112.5kWh power+20.5kWh steam), and this corresponds to a hydrogen cost of 1.6€/kgH₂.