Here’s a step-by-step guide to using the tool:
Step 1: Input Specification
Electrolyzer Mode: Select either (1) HTSE or (2) LTE.
Energy Generation Mode: Choose between (1) H2 Production (where all plant capacity is used for hydrogen production with no electricity sales) or (2) HYBRID (where hydrogen production uses only part of the plant capacity, and the remaining electricity is sold to the grid). If HYBRID is selected, specify the NPP design capacity in MWth.
- Hydrogen Market Price: Enter the price in Cell B8 or use the default value for automatic calculation.
- Electricity Price: Choose between (1) User-defined (enter in Cell G8) or (2) Correlated with NG price (tool calculates automatically).
- Natural Gas Price: Choose between (1) Fixed (enter in Cell L8) or (2) Flexible (time-dependent, with calculations based on selected data sources).
To input your own data sources, click "Define User-specific electricity and Natural Gas price." For descriptions and assumptions of default values, visit the "Inputs (Add)" tab. You can reset or access default values by using "CLICK: Rest to Default Value" or "CLICK: Go to Default Value."
Step 2: Financial Performance
Review financial performance results in rows 15 to 27 on the Dashboard. Green cells indicate favorable conditions, while red cells represent unfavorable conditions. Key indicators include:
- LCOH (Levelized Cost of Hydrogen) without PTC (Production Tax Credit) and with PTC.
- IRR (Internal Rate of Return) vs. WACC (Weighted Average Cost of Capital).
- NPV (Net Present Value) of Hydrogen and BAU comparisons.
Analyze cumulative and annual cash flows in the provided charts. Use the "Find the Breakeven Solution" button to determine LCOH when NPV equals zero and IRR equals WACC.
Step 3: Sensitivity Analysis
Conduct sensitivity analysis using tornado charts to assess the impact of seven parameters. Define lower and upper bounds by entering percentages under "% Lower" and "% Upper" or specify exact values. The charts display the impact range for each parameter, with blue bars showing minimum values, center values representing nominal scenarios, and orange bars indicating maximum values.
Step 4: Profitability Analysis using Heat Maps
Perform a heat map sensitivity analysis by selecting two input variables and defining their bounds. Click "Update Heat Maps" to refresh results. Heat maps display IRR and NPV, with boundaries indicating profitability thresholds. Green or yellow cells signify profitable scenarios.
Step 5: Electricity vs. Hydrogen Production Preference Analysis
Compare the profitability of hydrogen production versus selling electricity with BAU (NPP-BAU). Define bounds for electricity price, hydrogen market price, and tax credits, then click "Update Plots for Comparisons." The graph highlights areas where hydrogen production is more profitable than electricity sales. This step is not applicable for HYBRID mode or H2 production with time-dependent NG correlated electricity price.
Step 6: Competitive Analysis
Evaluate the competitiveness of hydrogen production via SMR (Steam Methane Reforming) against NPP-HTSE. Update the model by clicking "Update Plots." The analysis includes impacts of hydrogen market price, SMR LCOH (with or without CCS), and the effect of electricity price on NPP-HTSE LCOH. Compare the cost of NPP-HTSE with SMR to determine market competitiveness.