DEVELOPING AND VALIDATING COMPREHENSIVE INDICATORS TO EVALUATE THE ECONOMIC EFFICIENCY OF HYDROGEN ENERGY INVESTMENTS
Galevskiy S. G. ,
Department of Industrial Economics, Saint Petersburg Mining University, Russia, 199106.Haidong Qian ,
Department of Industrial Economics, Saint Petersburg Mining University, Russia, 199106.Abstract
Global hydrogen projects' Capital Expenditure (CAPEX) and Operating Expenditure (OPEX) are examined for financial viability and technological advancement. This study monitors market growth, policy changes, and technological advances that affect project performance and sustainability. Research employs life cycle cost analysis (LCCA) using five regions of China (Beijing, Shanghai, Guangdong, Sichuan, Zhejiang), market analysis, financial modelling, and sensitivity. For at least 50 hydrogen energy projects worldwide, LCCA was conducted using R and Python software and spreadsheets estimate installation, maintenance, and energy costs. Market analysis using leading databases and industry reports estimates hydrogen market penetration and demand over a decade. We use financial modelling software to create detailed cash flow models. Discount rates, hydrogen prices, CAPEX, OPEX, capacity utilization, policy changes, and carbon pricing schemes affect investment efficiency, according to sensitivity analysis. Surveys and interviews with industry experts, policymakers, and stakeholders contextualize and validate quantitative findings. Financial analysis of 50 hydrogen energy projects shows significant CAPEX and OPEX variation, requiring cost management and customized financial planning. The study emphasizes policy frameworks and technology for project efficiency and market growth. Strategic financial planning and risk mitigation are needed because sensitivity analysis shows how discount rates, hydrogen prices, and capacity utilization affect project viability. Finally, hydrogen energy projects need supportive policies and technology. Regulation and regional disparities persist. Technology can solve these problems and boost hydrogen energy sector growth and low-carbon futures. For sustainable, low-carbon energy, the research helps investors, policymakers, and stakeholders make informed decisions, optimize resource allocation, and promote hydrogen energy projects.