Electricity storage with liquid fuels in a zone powered by 100% variable renewables

In this work, an electricity zone with 100% renewables is simulated to determine the optimal sizing of generation and storage capacities in such a zone. Using actual wind output data, the model evaluates the economic viability of a power-to-fuel storage technology that combines water electrolysis, CO₂ capture and methanol synthesis. The main advantage of using methanol as an energy carrier is that liquid fuels are suitable for (long-term) energy storage thanks to their high energy density. The levelized electricity cost projection by 2050 equals 83.4 €/MWh in the base case configuration. The effects of storage round-trip efficiency and the storage unit lifetime are quantified and their impacts on the electricity cost discussed. Additional benefits of using methanol as a fuel substitute may be taken into account in further work.