Economic Viability of the Energy-Water-Hydrogen Nexus for Power System Decarbonization

This paper aims to evaluate the economic viability of the energy-water-hydrogen (EWH) nexus as a new solution for reducing carbon emissions from power systems. The urgency around climate change emphasizes the pressing need to mitigate carbon emissions, especially from the electricity sector, which accounts for a significant portion of total emissions in the US. In response, incorporating more renewable energy sources (RESs) and green hydrogen, created through water electrolysis and RES, stands out as a crucial strategy to combat climate challenges. We delve into various aspects of the EWH nexus, including carbon emissions from different power plants, capturing these emissions, and potential options for their reuse or storage. This paper involves modeling different sections of the EWH nexus and conducting an economic analysis across scenarios in power plants to determine optimal water supply methods, suitable chemical products for carbon reuse, and an appropriate carbon emission penalty to encourage emission reduction through the EWH nexus. The results indicate that reusing captured carbon emissions emerges as the most beneficial option across all power plant types. This finding underscores the potential of carbon reuse as a pivotal strategy within the EWH nexus framework for addressing carbon emissions.