Chemical storage of wind energy by renewable methanol production: Feasibility analysis using a multi-criteria decision matrix

This study is for the technoeconomic analysis of an integral facility consisting of wind energy-based electrolytic hydrogen production, bioethanol-based carbon dioxide capture and compression, and direct methanol synthesis. ASPEN Plus was used to simulate the facility producing 97.01 mt (metric tons) methanol/day using 138.37 mt CO₂/day and 18.56 mt H₂/day. A discounted cash flow diagram for the integral facility is used for the economic analysis at various hydrogen production costs and methanol selling prices. The feasibility analysis is based on a multi-criteria decision matrix consisting of economic and sustainability indicators comparing renewable and non-renewable methanol productions. The overall energy efficiency for the renewable methanol is around 58%. Fixation of carbon reduces the CO₂ equivalent emission by around −1.05 CO₂e/kg methanol. The electrolytic hydrogen production cost is the largest contributor to the economics of the integral facility. The feasibility analysis based on multi-criteria shows that renewable methanol production may be feasible. - Highlights: • We simulate renewable methanol production from wind-based hydrogen and CO_2. • Methanol production can fix 1.05 kg CO₂/kg methanol with an energy efficiency of 58%. • Economic and sustainability metrics are estimated for the integral facility. • We introduce a decision matrix with both economic and sustainability indicators. • Renewable methanol may be feasible versus conventional fossil fuel-based methanol.