The present work is devoted to technical and economic studies of an energy systems based on the hydrogen and aluminum energy carriers. Particular attention is paid to installations for electricity production from aluminum fuel as the least studied component of the described system. A mathematical model is constructed for each studied thermal power installations. The models were applied to solve the problems of optimizing the installation parameters by the criteria of maximum net efficiency and the minimum specific investments (at the maximum efficiency). Copyright (C) 2015, Hydrogen Energy Publications, LLC. Published by Elsevier Ltd. All rights reserved.