Corbean, Elisa ; Neumann, Jannik ; Dammel, Frank ; Stephan, Peter ; Ulbrich, Stefan (2023)
Techno-Economic Optimization of an Innovative Plant for Sustainable Iron Reduction.
doi: 10.52202/069564-0117
Konferenzveröffentlichung, Bibliographie

Kurzbeschreibung (Abstract)

Metal fuels such as iron represent potential energy carriers for large-scale storage and transport of renewable energy. In a circular process renewable energies can be stored in form of iron by thermochemical reduction of iron oxide and the required energy can be released via thermochemical oxidation, time and location independent from the storage process. While existing infrastructure such as coal-fired power plants could be retrofittedto meet the needs for the oxidation process, the conceptualization and construction of new infrastructure for the storage process by reduction is required. This opens up the possibility for a thorough techno-economic assessment of potential processes in order to ensure the optimal process design. Therefore, a techno-economic model of an innovative reduction plant utilizing the flash ironmaking technology for the reduction reactor is developed. The resulting mathematical model describes the operation of the reduction plant in dependence of design variables defining the plant components’ dimensions. These design variables together with further process variables are optimized using mathematical optimization with respect to an economic objective function, i.e. the levelized cost of iron, in order to obtain the economically optimal process design. Thorough analyses are performed to assess the impact of changing economic boundary conditions on the optimal process design. Numerical results demonstrate a strong dependence of the cost optimal design on the available renewable energy prices and the obtained levelized cost of iron varies between 0.05 $/kg iron and 0.68 $/kg iron. Thus, choosing appropriate reduction locations with access to low renewable energy prices is crucial for the economic competitiveness of the considered process. The results further confirm an expected trade-off between total investment costs and yearly energy consumption of the plant components. With increasing cost for renewable energy, energetically more efficient system designs also become economically advantageous, i.e. an increase in the energetic efficiency from ηsys = 55.6% to ηsys = 69.3% is observable. The electrolyzer turns out to be the dominant plant component both, economically and energetically. Future work will take uncertainties into account to ensure a robust process design and couple the reduction plant to location specific renewable energy systems.

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