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Recently, with the acceleration of the energy transition, renewable energy, ammonia, methanol and hydrogen projects are becoming investment hotspots
Solar and wind power do not dominate in the short term
Solar energy and wind power do not dominate in the short term.However, the actual cost of solar and wind power generation is expected to continue to decline
Project production costs need to be reduced
Project production costs still need to be reduced Project production costs still need to be reducedThe cost of renewable energy for the production of hydrogen from water electrolysis is the most energy-consuming step in the production of green ammonia or methanol
However, based on a reasonable forecast of the levelized cost of renewable energy in 2030, as the cost of renewable energy drops to 2 cents/kWh, it is expected that green ammonia will have a certain degree of cost and economic competitiveness
The economy and environmental protection of project production need to be improved
The economics and environmental protection of project production need to be improved .Industry insiders said that leveraging on the research and development of high-efficiency green processes for chemical production is expected to achieve economic improvement and industrialization of green ammonia and green methanol projects
Thus, the simulated green ammonia process includes three main steps: hydrogen production through electrolysis of water; green nitrogen production using renewable energy; and in a world-scale factory, synthetic ammonia is produced using renewable hydrogen and nitrogen through the traditional Haber process
In addition, compared with the traditional gray production process, the production of green methanol from hydrogen and carbon dioxide requires more hydrogen input, which means higher power consumption per ton of methanol