Technical and Economic Analysis of Rural Hydrogen–Electricity Microgrids

China’s rural areas possess abundant renewable energy resources, but lack sufficient energy storage facilities. Hydrogen energy storage has been considered a potential green solution. This study, for the first time, constructed a planning model for a rural electric–hydrogen microgrid incorporating hydrogen and electricity storage, and conducted comprehensive technical and economic analysis under different time periods and combinations of technological elements. The levelized cost of electricity (LCOE) was employed as a key indicator, K-means clustering was employed to obtain typical source–load curves, and the curtailment/self-balancing rate was combined for evaluation. Off-grid energy storage schemes, grid-connected/off-grid modes, and hydrogen production methods were compared to determine the optimal solution. The simulation results show the following: in 2025, off-grid mode with alkaline water electrolyzer (AWE) hydrogen production, hydrogen–battery hybrid storage was the most cost effective (LCOE 0.2824 ¥/kWh) due to hydrogen sales profits and battery flexibility, while fuel cells were unfeasible. Grid-connected mode reduced LCOE by 0.008 ¥/kWh vs. off-grid. Currently, AWE’s LCOE is 0.0172 ¥/kWh lower than proton exchange membrane (PEM), but PEM may have a 0.0004 ¥/kWh lower LCOE by 2030, becoming preferred. The results are potential for cost effectiveness, aiding rural energy transition.