Economic Analysis of Typical Models of Renewable Hydrogen Production via Electrolysis

Renewable hydrogen production via electrolysis is rapidly advancing but faces challenges such as high operating costs, renewable energy volatility, immature storage and transportation technologies, and limited market demand. The economic viability of these projects depends heavily on business models that reduce costs and enhance competitiveness. This paper proposes five typical business models for renewable hydrogen production via electrolysis and conducts empirical studies on their economic viability. The results show that grid-connected projects are currently more economically viable than off-grid projects, with some grid-connected (total amount controlled) models showing slightly better economic performance than hybrid (total amount controlled) models.