Best Master Thesis Award to Strømholm and Rolfsen
Lars Skaugen Strømholm and Raag August Sandal Rolfsen are the winners of the Best Master Thesis Award at the Department of Business and Management Science for 2021.
With their thesis entitled Flexible hydrogen production: A comprehensive study on optimizing cost-efficient combinations of production and storage capacity to exploit electricity price fluctuations, Strømholm and Rolfsen are the first winners of the newly established Best Master Thesis Award at the Department.
The master thesis of Strømholm and Rolfsen focuses on the production and storage of so-called green hydrogen - a question of great importance for sustainability and the transition to new, renewable energy sources. Specifically, they are developing a mathematical decision-making model to assess whether fluctuations in electricity prices can be exploited to produce green hydrogen through electrolysis in a profitable way.
They look at different assumptions regarding production capacity, storage capacity and price fluctuations in the electricity market. Among the important findings in the analysis can be mentioned that large investments are required to be able to take advantage of price fluctuations, that profitability will depend critically on the technical solutions and the specific market situation, and that investments in storage capacity will be particularly important.
Strømholm and Rolfsen presented their work on a Department Seminar on Friday 3 December, when they were officially proclaimed winners.
Earlier this Autumn Strømholm and Rolfsen were awarded the Lehmkuhl Grant for their master thesis. This was not known by the members of the evaluation committee at the Department when they made their decision.