Economics theoretical potential

Although a high theoretical potential of RES exists, this potential decreases significantly when further restrictions, such as the technical availability, market constraints, environmental constraints and the economic feasibility of renewable technology options for energy conversion, are taken into account. For these reasons, it is also hard to predict how renewable capacities will develop in the future. 

The Georgian geothermal resources are estimated to be up to 250 Mm3 whereof 100 Mm3 are proven reserves. The water temperature varies from 50 to 100 °C. The theoretical potential has been estimated to be 290 MWh [33], The technical potential is estimated at 150 MWh. Owing to the general economic situation in Georgia and with the poor state of the existing wells it is rather difficult to attract investments for new development projects. That is why the current economic potential is limited to the rehabilitation of existing wells and related infrastructure estimated at 50 MWh. 

The thermochemical cycles (S-I > 850°C) or hybrid cycles (S-electrolysis > 850°C) still feature many uncertainties in terms of feasibility and performances. Uncertainties still exist in parts of the flow sheet and technologies needed to provide high temperature heat whether from solar or nuclear nature. Potential assets of thermochemical cycles lie in a theoretical potential for a global efficiency above 35% and a scaling law of the hydrogen plant after the volume of reactants instead of the total surface of electrolytic cells. In return, their practical feasibility and economic viability have to be entirely demonstrated. Especially, a global efficiency above 30% is to be demonstrated to compete with alkaline electrolysis. Moreover, the safety of co-located nuclear and chemical plants has to be demonstrated. 

In this case, the possible saving by using microreaction technology is to be understood as the theoretical potential. It is assumed that there are no restrictions regarding technical, material and economic constraints. Hence the theoretical potential represents an upper limit of the reduction in costs during the process development and production compared with the conventional batchwise process development and production (Table 13.2). 

Many of these substances have been investigated in the context of rocket propulsion technology, since, chemically, the combustion of rocket fuels is related to the combustion of incendiary agents. Though by-products of rocket research may be theoretically of interest as potential incendiary agents, it remains to be seen whether they are feasible economically (Ref 7.n 103)... 

To determine the potential use of RES for hydrogen, the economic performance has to be considered in addition to the theoretical availability of RES. For this reason, ranges of electricity generation costs concerning the various RES technologies are... 

In a theoretical study, Lowell et al. W selected oxides from thermodynamic considerations for a process in which SO2 was adsorbed at temperatures greater than 100 C and desorbed by decomposition of the sulfate or sulfite formed, at temperatures below 750 C. Under these constraints, all of 47 oxides considered had potential for adsorption but only 16 had low enough decomposition temperatures to make a process economical. Intuitively, sulfate decomposition temperature should correlate loosely with reducibility of sulfates, so it is interesting that many of the 16 oxides chosen by Lowell, which included cerium and aluminum, have been shown to be useful in the UltraCat process. 

Process economics of the GMODS are dependent on the scale of operation (D14276H, p. 5). Based on theoretical considerations (the limited number of process steps), GMODS has the potential to be a relatively low-cost process for treatment of radioactive wastes (D14276H, p. 37). In some cases, specialized equipment may be used to minimize waste volume prior to treatment, in an effort to minimize costs (D14276H, p. A-3). 

The basic principles for the design and pre-feasibility analysis of hydrogen-based autonomous power systems are also given. The main outcome of the techno-economic analysis is the identification of technical and non-technical barriers and respective potential benefits for the implementation of hydrogen-based autonomous power systems in the short term and medium term as well. The analysis performed in this section of the book is based on real technology and market parameters acquired during the operation of these autonomous power systems rather than on theoretical assumptions. 

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