适应可再生能源大规模发展的新型电力系统构建是促进“双碳”目标实现的重要保障。新型电力系统构建离不开储能、尤其是具有中长期储能特征的氢储能的发展。氢能综合利用站包括电解水制氢、氢储能、以及氢燃料电池发电，是新型电力系统下重要的灵活性电力负荷和储能资源。但目前适用于氢能综合利用站（以下简称为:氢能电站）发展的商业模式还不够清晰，其经济效益问题阻碍了氢能电站的推广。本文首先从氢能综合利用的发展现状入手，基于氢能电站各设备模块实际的运行特点，以及氢能电站中各设备的投资及运维成本构建了技术经济分析模型；在此基础上根据能源价格、各设备运行效率等参数模拟氢能电站运行情况，分析了“氢储能套利”、“可再生能源制氢+氢储能套利”、“可再生能源制氢+氢储能套利+售氢”、“氢储能套利+调频”、“氢储能套利+调频+售氢”五种模式下氢能电站的经济效益，探究了适合氢能电站发展更加可行的商业模式；最后，提出了促进氢能电站发展的相应政策建议。。

The construction of the new power system adapted to the large-scale development of renewable energy is an important guarantee for the achievement of the "dual carbon" target. The new power system cannot be built without the development of energy storage, especially hydrogen energy storage with medium and long-term energy storage characteristics. The hydrogen energy comprehensive utilization station includes hydrogen production by water electrolysis, hydrogen storage and hydrogen fuel cell power generation, which is an important flexible power load and energy storage resource under the new power system. However, the current business model suitable for the development of hydrogen energy cocmprehensive utilization station (hereinafter: hydrogen power stations) is not clear enough, and its economic benefits hinder the promotion of hydrogen energy stations. This paper starts from the current development status of the integrated use of hydrogen energy, and constructs a technical economic model based on the actual operating characteristics of each equipment module of the hydrogen power station and the investment and operation and maintenance costs of each equipment in the station. On this basis, the operation of the station is simulated according to parameters such as energy prices and the operating efficiency of each equipment, and the optimal operation and dispatch scheme and economic benefits of the station are analysed under the five models of "hydrogen energy storage arbitrage", "renewable energy hydrogen production + hydrogen energy storage arbitrage", "renewable energy hydrogen production + hydrogen energy storage arbitrage + hydrogen sales", "hydrogen energy storage arbitrage + frequency modulation", "hydrogen energy storage arbitrage + frequency modulation + hydrogen sales" under the condition of satisfying the operation constraints of each equipment in the station, so as to explore a more feasible business model suitable for the development of the hydrogen power station. Finally, corresponding policy recommendations for promoting the development of hydrogen energy power station are put forward.

国家社会科学基金重大项目“双碳目标下能源结构转型路径与协同机制研究”(22 ZD103)；国家社会科学基金重点项目“碳中和目标下可再生能源大规模发展的路径和协同机制研究”(21AZD111)；国家自然科学基金重点项目“城市能源系统低碳转型的驱动机制及政策研究”(71934006)