A.T. de Almeida,∗ M. Khalilov,∗ P. Fonseca,∗ C. Ferreira,∗ A. Jahn,∗∗ J. Muhling,∗∗ and T. Mansfield∗∗ ¨
Fuel cells, distributed generation, energy services
This article deals with the economical analysis of fuel cell (FC) installations used for cogeneration stationary applications under different local conditions and variable external economic situations. The investigation includes sensitivity analysis that allows evaluating the FC payback period (PBP) change as a function of the natural gas price and of the FC capital cost. The impact of the electricity tariff system and of the performance of different FCs, including FC stack recovery factor is addressed. Two modes of FC operation: continuous power generation and peak shaving modes have been considered where it was possible. The comprehensive structure of Operations and Maintenance costs (O&M) has been used within the study, including FC stack replace- ment, fixed and variables O&M. Analysis of the influence of load pattern for FC electricity and thermal demand variations in a typical hotel and in a hospital in Portugal and Germany has been carried out. The results of the analysis show that in some situations it is attractive to use FC for stationary applications. The key factors to improve FC profitabil- ity when applied in tertiary buildings and in small and medium enterprises (SMEs) have been also identified in this study.
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