SRT Group, Inc. (SRT), a leader in innovative energy processes involving halogens, has developed and patented an innovative electrical energy storage and hydrogen production system. The SRT system stores off-peak electricity and produces hydrogen via a novel natural gas/steam thermo-electrochemical process. The following economic analysis indicates that the system can provide on-peak electrical power competitive with natural gas-fueled peaking-turbines and can coproduce hydrogen at costs considerably below that of delivered merchant hydrogen. Preliminary market estimates indicate a $250 million U.S. and $400 million world annual market potential for the SRT system. Competitiveness is achieved due to:
(1) the cost for the SRT system is allocated between two products and revenue sources, namely hydrogen and electric energy storage;
(2) a very high 89% utilization factor;
(3) reducing high-cost electrical needs with low-cost natural gas; and
(4) low capital investment. Based on the promise of SRT’s early investigations and analysis, the U.S. Department of Energy (DOE) agreed to cost-share 50% of the cost to develop the processes under the auspices of an SRT/DOE Cooperative Agreement. The SRT/DOE program has been in place since 1995 and is culminating with a planned integrated system demonstration in Palm Desert, California and Laramie, Wyoming. The proposed demonstrations will convert intermittent wind energy to provide uninterruptable and reliable electrical energy to the electric grid and produce merchant hydrogen.
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