Economy-environment-energy performance evaluation of power to hydrogen and power to methane considering renewable energy generation and carbon capture

The integration of multienergy complementary systems has become increasingly prevalent to mitigate the waste of renewable energy. As power-to-gas (P2G) technology advances, converting electricity into gas presents a viable solution for bolstering the reliability of power supplies within integrated energy frameworks. P2G plays a pivotal role in harnessing unused renewable resources, such as wind and solar energy, to produce sustainable power. While numerous studies have explored the advancement of P2G, there remains a lack of comprehensive evaluation of its various component subsystems. This research aims to design a renewable energy power system, augmented by gas-fired generation, assessing the collective advantages of both the power-to-hydrogen (P-H) and power-to-methane (P-M) conversion processes within the P2G infrastructure. It is important to note that the economic potential of P-H conversion is currently constrained by cost factors within existing P2G systems. This study takes into account the dynamics of carbon trading, as well as the hydrogen and methane markets, to compare the economic, environmental and energy-specific benefits of P-H and P-M conversions under different power demand scenarios. The goal is to formulate enhanced strategies to optimize P2G deployment in these varied contexts.