The Financial Evaluation of Production of Advanced Hydrogen Fuel Cells in Iran

Document Type : Original Article

Authors

1 PhD Student of Electric power system, Dept. of Power Systems Planning and Operation, Faculty of Electrical Engineering, Shahid Beheshti University,Tehran, Iran.

2 Associate Professor, Dept. of Power Systems Planning and Operation, Faculty of Electrical Engineering, Shahid Beheshti University,Tehran, Iran,

3 PhD in Management and Economics, Sharif University of Technology,Tehran, Iran.

4 Associate Professor, Dept. of Power Systems Planning and Operation, Faculty of Electrical Engineering, Shahid Beheshti University,Tehran, Iran.

Abstract

The fuel cells are electrochemical equipment that produces electricity by compounding hydrogen and oxygen in a specific membrane. Fuel cells, as a cutting-edge technology and a maintenance free energy conversion equipment, have the potential to play a significant role in generation of clean electricity, especially for home size CHP and clean transportation based on hydrogen fueled vehicles, can provide new opportunities in the world’s economy. In a study for the financial evaluation of the establishment of a fuel cell production facility in Iran, with a capacity of one million units per year, the economic modeling has been done by COMFAR software based on the UNIDO’s Instructions. According to the results of this evaluation, IRR was well beyond the discount rate and the normal payback period as well as the dynamic payback period were in the range of 4-5 years. All of the financial ratios and risk analysis in the six stages justified the bill of investing.

Keywords

References

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Public Sector Economics Studies
Volume 1, Issue 2
February 2023
Pages 181-198

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History

  • Receive Date: 27 December 2022
  • Revise Date: 07 February 2023
  • Accept Date: 12 February 2023

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