The circular process of iron fuel significantly impacts its overall cost-effectiveness in several ways:
- Regeneration efficiency:
The regeneration of iron oxide (rust) back to iron powder is a crucial step in the circular process. This regeneration has an efficiency of about 79%, which affects the overall cost-effectiveness. While this is lower than some other energy storage methods, it’s still relatively competitive. - Hydrogen dependency:
The regeneration process relies heavily on hydrogen, which significantly influences the overall economics of iron powder energy storage. The cost and availability of green hydrogen play a crucial role in determining the cost-effectiveness of the entire cycle. - Transport and storage advantages:
Iron powder can be easily stored and transported using existing infrastructure, which can lead to cost savings compared to technologies like hydrogen that require specialized storage and transport systems. This ease of handling contributes positively to its cost-effectiveness. - Minimal losses during transport:
A study by Roland Berger highlighted iron powder’s strong cost competitiveness due to minimal boil-off losses during transport. This attribute enhances its overall cost-effectiveness in the energy supply chain. - Direct usability:
Iron powder can be used directly without the need for reconversion, unlike some other energy carriers. This direct usability can lead to cost savings in the overall process. - High energy density:
Iron powder has a relatively high energy density (7.39 MJ/kg), which is higher than some alternatives like lithium-ion batteries. This high energy density can contribute to cost-effectiveness in certain applications. - Cyclical nature:
The ability to reuse the iron powder multiple times in a closed loop system contributes to its long-term cost-effectiveness, as it reduces the need for continuous raw material input. - Industrial heat applications:
Iron powder is particularly promising for industrial heat applications, where its high-temperature combustion can directly serve industrial processes, potentially offering a cost-effective alternative to other decarbonization methods.
While the circular process of iron fuel offers several advantages that contribute to its cost-effectiveness, it’s important to note that the technology is still in development. Ongoing research and optimization of the regeneration process, as well as advancements in green hydrogen production, will likely further improve its cost-effectiveness in the future.
Learn more:
https://www.tue.nl/en/research/institutes/eindhoven-institute-for-renewable-energy-systems/iron-power
https://www.researchgate.net/figure/Breakdown-of-energy-consumption-for-production-of-iron-powder-by-water-atomisation-4_tbl1_278088990
https://swzmaritime.nl/news/2020/02/27/why-iron-could-be-a-suitable-future-marine-fuel/
https://hydrogentechworld.com/iron-power-enabling-large-scale-green-energy-storage-using-iron-powder
https://www.reden.nl/our-work/power-from-powder-is-iron-the-new-hydrogen
