1.8 Exergoeconomics

Ahmadi, Pouria; Dinçer, İbrahim

doi:10.1016/b978-0-12-809597-3.00107-3

Cited by 18 publications

(6 citation statements)

References 41 publications

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“…Exergy economic assessment is used to evaluate this system from both technical and economic perspectives. Exergy economic evaluation is a good way to evaluate the cost and efficiency of a thermal system [16]. Exergy balance and exergy financial balance equation combined with Equations ( 22)- (24) [17,18].…”

Section: Exergoeconomic Modelmentioning

confidence: 99%

Exergoeconomic and Exergoenvironmental Analysis of a Novel Power and Cooling Cogeneration System Based on Organic Rankine Cycle and Ejector Refrigeration Cycle

Tao

Wang

et al. 2022

Energies

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A novel combined power and refrigeration system is proposed based on organic Rankine and jet refrigeration cycles. The system has a wider application range and can be adjusted to different cooling and evaporation temperatures. To meet the needs of diverse populations, the cooling and evaporation temperature can be as low as −60 degrees Celsius. The genetic algorithm is used to optimize the system, and the proposed system’s energy, exergy, economy, and environment are analyzed under optimal conditions. The results desmonstrate that the exergy damage, environmental impact rate, and exergy economic coefficient of steam turbine are the largest. The system’s exergy damage and the turbine’s investment cost are reduced, and the system’s performance is improved. The condenser has the greatest potential for improvement and should be considered a priority component for system improvement. In addition, the system parameters are analyzed. Higher low-pressure steam generation temperature, dryness of low-pressure steam generator outlet, turbine steam extraction ratio, refrigeration evaporation temperature, and compressor compression ratio are advantageous to system cooling capacity output but not the system net power.High-pressure evaporation temperature is unfavorable to the system’s output of net power and cooling capacity. Still, it is beneficial to improve the thermal and energy efficiency of the system. Under the same operating conditions, compared with the system proposed by predecessors, the system’s net power is increased by 12.52 kW, the thermal efficiency is increased by 4.27%, and the energy efficiency is increased by 2.57%. The system was optimized by taking low-pressure evaporation temperature, high-pressure evaporation temperature, outlet dryness of low-pressure steam generator, suction ratio of steam turbine and compression ratio of compressor as decision variables, and thermal efficiency, exergy efficiency, SUCP and SUEP as objective functions. The low-pressure evaporation temperature, high-pressure evaporation temperature, outlet dryness of low-pressure steam generator, suction ratio of steam turbine, and compression ratio of compressor are 357.99 K, 385.72 K, 0.1, and 0, respectively. The system thermal efficiency is 15.01%, exergy efficiency is 43.18%, SUCP is 45.525USD/MWh, and SUEP is 5122.6 MPTS/MWh.

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Section: Exergoeconomic Modelmentioning

confidence: 99%

Exergoeconomic and Exergoenvironmental Analysis of a Novel Power and Cooling Cogeneration System Based on Organic Rankine Cycle and Ejector Refrigeration Cycle

Tao

Wang

et al. 2022

Energies

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“…Implementations of this method in the field of fuel cell have been reviewed by Adeel Arshad et al [18]. Besides the consideration of technical performance in designing a thermal system, economic performance should be taken into account [19]. Exergoeconomics (or thermoeconomic) appropriately combines thermodynamic evaluations based on an exergy analysis with economic principles at the level of system components.…”

Section: Exergoeconomic Analysismentioning

confidence: 99%

“…For comprehension of the economic assessment to lead a better design, attending of exergy is demanded due to identifying losses of the system [45]. Exergoeconomic can be evaluated to approach this aim by determining the cost of products and irreversibilities in processes of the applied system.…”

Section: Exergoeconomic Analysismentioning

confidence: 99%

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Thermodynamic and exergoeconomic analyses of a vehicular fuel cell power system with waste heat recovery for cabin heating and reactants preheating

Liu

Deng³

et al. 2022

Energy

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“…The concept has equally been extended to thermo-economic assessment of thermodynamic systems [9], in an approach generally known today as exergoeconomic [10] or exergy cost [11] analysis. Exergoeconomic analysis integrates economic principles with exergy concepts, to define flow of investment and operational costs in a thermodynamic system, as well as to investigate economic devaluations and their locations [12]. In this regard, the specific exergy cost (SPECO) approach [13], the exergy cost theory [14] and other exergoeconomic approaches have been developed.…”

Section: Introductionmentioning

confidence: 99%

Modified auxiliary exergy costing in advanced exergoeconomic analysis applied to a hybrid solar-biomass organic Rankine cycle plant

2020

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This study concerns advanced exergoeconomic analysis of a hybrid solar-biomass organic Rankine cycle (ORC) cogeneration plant. The hybrid plant had been previously conceived as structural optimization scheme to upgrade thermo-economic performance of a real 630 kW solar-ORC plant which currently runs in Ottana, Italy. The irreversibility rates, investment cost rates and irreversibility cost rates were obtained for each system component, based on thermodynamic balance as well as cost balance and auxiliary equations established for the components. Next, the avoidable/unavoidable and exogenous/endogenous splitting options were applied to investigate the sources of thermo-economic losses in the system, the effects of component interactions on the losses, as well as the best approach to improving the system. The main contribution of this paper centers on modification of the traditional auxiliary exergy costing in advanced exergoeconomic methodology, by incorporating stream energy quality into the cost formation process. Results showed that more than 50 % of total irreversibility rates can be avoided in almost all of the components of the hybrid plant, most of which are endogenous. Similarly, it was obtained that component interdependencies have little impact on thermo-economic losses. Specifically, more than 60 % of irreversibility cost rates could be avoidable in the hybrid plant by optimizing internal operations of each of the system components individually. Moreover, results showed that how auxiliary exergy costing is defined in advanced exergoeconomic method plays a significant role on the analysis, and the modified approach presented in this study is a viable choice.

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1.8 Exergoeconomics

Cited by 18 publications

References 41 publications

Exergoeconomic and Exergoenvironmental Analysis of a Novel Power and Cooling Cogeneration System Based on Organic Rankine Cycle and Ejector Refrigeration Cycle

Exergoeconomic and Exergoenvironmental Analysis of a Novel Power and Cooling Cogeneration System Based on Organic Rankine Cycle and Ejector Refrigeration Cycle

Thermodynamic and exergoeconomic analyses of a vehicular fuel cell power system with waste heat recovery for cabin heating and reactants preheating

Modified auxiliary exergy costing in advanced exergoeconomic analysis applied to a hybrid solar-biomass organic Rankine cycle plant

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