ABSTRACT The energy supply of the chemical industry in Germany relies to a large extent on natural gas as an energy carrier. In order to achieve the climate targets, natural gas must be replaced by other CO 2 ‐neutral energy carriers in the future. There is a wide range of technologies that can be used for this purpose. In this study, a variety of energy supply concepts are analysed and compared on the basis of an existing industrial application. This work focuses on a techno‐economic analysis of integrating a Carnot battery, that is, a power‐to‐heat‐to‐power system. The results show that hybrid concepts using both biogas and renewable electricity as an energy carrier and a thermal energy storage are the most economical and offer the greatest flexibility in terms of energy procurement.