Economic analysis of hydrogen and formate co-production via fluctuating-power methanol electrolysis

Methanol electrolysis without storage yields H 2 at $13.54 per kg (13.8% reduction vs. storage). Co-producing formate lifts return on investment to 116.4%. Methanol price is the key lever: a 10% drop cuts the levelized cost of hydrogen (LCOH) by $0.3 per kg.