Unlocking the Potential of Green Methanol Production in Europe
Key Ideas
- Researchers from the University of Seville have analyzed the feasibility of green methanol production from CO2 capture in Europe using PV technology.
- Initial estimates identified 9,213 viable municipalities, with further filtering resulting in 3,016 locations suitable for green methanol production.
- Economic evaluations under different scenarios project the potential to produce 5 Mton of methanol annually by 2030 with promising cost projections and financial returns.
- The study highlights the importance of factors such as water availability, natural gas infrastructure, and proximity to CO2 emitters in selecting suitable sites for green methanol production.
A research group from the University of Seville in Spain conducted a detailed analysis on the potential implementation of green methanol production from CO2 capture around Europe. Utilizing a Geographic Information System (GIS), the study focused on harnessing solar PV technology for methanol production, a promising green fuel globally. The research team established key boundary conditions for identifying suitable production sites, such as proximity to water treatment facilities, natural gas consumers, and urban zones.
The initial analysis revealed 9,213 theoretically viable municipalities for green methanol production, based on factors like natural gas infrastructure, industrial CO2 sources, and water accessibility. After applying filters related to land use and PV installation requirements, 3,016 technically viable municipalities were identified. Subsequent economic evaluations under different scenarios indicated a potential annual production of 5 Mton of methanol by 2030, with a carbon capture capacity exceeding 7 Mton of CO2 per year.
The team's findings highlighted the financial viability of the approach, with projected levelized costs of around €450/ton of methanol and an internal rate of return (IRR) exceeding 15% by 2030. The study underscores the significance of factors like hydrogen electrolyzer costs, CO2 capture prices, and the evolving market conditions in shaping the future landscape of green methanol production in Europe. The research outcomes were presented in the publication "Green methanol production from photovoltaics in Europe," emphasizing the potential for sustainable energy solutions in the region.