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Levelized Cost Analysis of Hydrogen Energy Chain Based on Liquid Hydrogen
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Yanming Wan1, Yan Zhang1, Huiying Miao2, Kun Yu2, Zirui Chen2, Yadong Yu2
Journal of Technology Economics | 2025, 44(10) : 128 - 138
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Journal of Technology Economics | 2025, 44(10): 128-138
• Technology Economics Evaluation •
Levelized Cost Analysis of Hydrogen Energy Chain Based on Liquid Hydrogen
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Yanming Wan1, Yan Zhang1, Huiying Miao2, Kun Yu2, Zirui Chen2, Yadong Yu2
Affiliations
  • 1.China Hydrogen Alliance Research Institute Co., Ltd, Beijing 100007, China
  • 2.School of Business, East China University of Science and Technology, Shanghai 200237, China
Published: 2025-10-25 doi: 10.12404/j.issn.1002-980X.J24020204
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The hydrogen energy industry is constrained by large-scale, low-cost hydrogen production and long-distance storage-transport technologies, while liquid hydrogen is expected to be a key technology for low-cost, efficient hydrogen storage and transportation. A levelized cost model was employed to calculate the costs of the four core processes in the liquid hydrogen industry chain, namely hydrogen production, liquefaction, storage and transportation, and refueling. Combined with sensitivity analysis, it identifies the key factors influencing costs in each process. Furthermore, based on regional resource endowments, the cost differences of the industrial chain was analyzed under different technical routes through multiple sets of typical regional scenarios. Results show significant cost gaps between hydrogen production methods: coke oven gas-based production has lower costs, while renewable energy-powered electrolytic production is relatively higher. Liquefaction consumes substantial electricity, with electricity prices and equipment costs as key constraints, and technological progress aiding cost reduction. For storage and transport process, longer distance lowers unit cost; liquid hydrogen tankers suit long-distance transport, with labor and vehicle purchase costs accounting for a large share. In the refueling process, high-pressure gaseous hydrogen stations cost more than liquid hydrogen ones at the same scale, with land and equipment prices impacting costs significantly. Finally, targeted suggestions for each process are proposed to reduce the overall cost of liquid hydrogen industrial chain and promote the development of the hydrogen energy industry.

liquid hydrogen  /  techno-economic analysis  /  levelized cost  /  carbon neutrality
万燕鸣, 张岩, 缪慧颖, 于琨, 程子睿, 余亚东. 基于液氢的氢能产业链的平准化成本分析. 技术经济, 2025 , 44 (10) : 128 -138 . DOI: 10.12404/j.issn.1002-980X.J24020204
Yanming Wan, Yan Zhang, Huiying Miao, Kun Yu, Zirui Chen, Yadong Yu. Levelized Cost Analysis of Hydrogen Energy Chain Based on Liquid Hydrogen[J]. Journal of Technology Economics, 2025 , 44 (10) : 128 -138 . DOI: 10.12404/j.issn.1002-980X.J24020204
Year 2025 volume 44 Issue 10
24
5
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doi: 10.12404/j.issn.1002-980X.J24020204
  • Receive Date:2024-02-02
  • Online Date:2026-10-27
  • Published:2025-10-25
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  • Received:2024-02-02
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    1.China Hydrogen Alliance Research Institute Co., Ltd, Beijing 100007, China
    2.School of Business, East China University of Science and Technology, Shanghai 200237, China
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表12种不同金属材料的力学参数
科
Family
属数
Number of
genus
种数
Number of
species
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Percentage of
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属
Genus
种数
Number of
species
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Percentage of total
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鹅膏菌科Amanitaceae 2 11 5.26 鹅膏菌属 Amanita 10 4.78
小菇科 Mycenaceae 2 12 5.74 丝盖伞属 Inocybe 5 2.39
多孔菌科 Polyporaceae 8 14 6.70 蜡蘑属 Laccaria 5 2.39
红菇科 Russulaceae 3 23 11.00 小皮伞属 Marasmius 6 2.87
小菇属 Mycena 11 5.26
光柄菇属 Pluteus 5 2.39
红菇属 Russula 17 8.13
栓菌属 Trametes 5 2.39
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