Fuel cells are highly efficient & economically beneficial:
- High temperature fuel cells deliver upwards of 47% net electrical efficiency – well above the average U.S. and global central coal-fired steam power plant station efficiency of 33%.
- Hybrids, systems that combine high temperature fuel cells with a turbine, can operate at electrical efficiencies estimated at up to 70% – higher than even the most efficient combined cycle turbine plants now available, which are operating at 60%.
- Fuel cells can be designed to offer Combined Heat and Power (CHP, which enables the fuel cell’s heat to be used to warm water or space or even cool air with absorption chillers. With CHP, a fuel cell can offer overall energy efficiencies exceeding 90%.
The GEI X5 Fuel Cell Electric Power System Technology is a more affordable option for electric power generation example provided as compared to diesel fuel.
Canada has one of the lowest natural gas cost structures around the globe. In coming years the Canadian natural gas cost is only expected to further decline as a result of new natural gas discoveries world-wide, and is an opportunity for the GEI Global Fuel Cell Electric Power Generation technology to provide clean power at significant cost savings as compared to diesel electric power generation. Establishing an off-grid fuel cell electric power mini-grid leveraging natural gas will provide an opportunity for revenue generation for First Nation citizens; by becoming an energy service provider to other self-governing and remote communities of Northern Canada.
Considering a base rate for diesel fuel is $1.036 per liter, plus $0.08 cents per liter carbon tax, this equates to $1.116 per liter of diesel, or $0.1037/kWh and compares to a natural gas cost of $0.016/kWh.
As such, using diesel fuel for power generation results in a diesel cost premium of 6.48. Furthermore, upon considering the conversion efficiency of diesel generators at 18% as compared to a fuel cell electrical conversion efficiency of 44%, this cost premium is more like 15.8. In other words, for every 15.8 cents spent on generating power with diesel fuel, the same power production is possible at a cost of 1 penny by leveraging abundant and affordable natural gas. Additionally, diesel fuel electric power production requires fuel transportation and storage which increases overall cost that exceeds $0.40 cents per kWh.