A multi-factor methodology for evaluation and optimization of plate-fin recuperators for micro gas turbine applications considering payback period as universal objective function

Abstract

Purpose Because of the appreciable application of heat recovery systems for the increment of overall efficiency of micro gas turbines, promising evaluation and optimization are crucial. This paper aims to propose a multi-factor theoretical methodology for analysis, optimization and comparison of potential plate-fin recuperators incorporated into micro gas turbines. Energetic, exergetic, economic and environmental factors are covered. Design/methodology/approach To demonstrate applicability and reliability of the methodology, detailed thermo-hydraulic analysis, sensitivity analysis and optimization are conducted on the recuperators with louver and offset-strip fins using a genetic algorithm. To assess the relationship between investment cost and profit for the recuperated systems, payback period (PBP), which incorporates all the factors is used as the universal objective function. To compare the performance of the recuperated and non-recuperated systems, exergy efficiency, exergy destruction and corresponding cost rate, fuel consumption and environmental damage cost rates, capital and operational cost rates and acquired profit rates are determined. Findings Based on the results, optimal PBP of the louvered-fin recuperator (147 days) is slightly lower than that with offset-strip fins (153 days). The highest profit rate is acquired by reduction of exergy destruction cost rate and corresponding decrements for louver and offset-strip fins are 2.3 and 3.9 times compared to simple cycle, respectively. Originality/value This mathematical study, for the first time, focuses on introducing a reliable methodology, which covers energetic, exergetic, economic and environmental points of view beneficial for design and selection of efficient plate-fin recuperators for micro gas turbine applications.

Evaluation Of Payback Period Of Epr-Systems

“…statistics. The use of mathematical methods in the field of calculation of performance indicators of automated information management systems is often the main methodology used in the course of determining the needs of the organization and the goals facing software developers during the development and implementation of EPR (Maghsoudi, Sadeghi, Xiong, & Aminossadati, 2019). Mathematical methods accelerate the economic analysis, contribute to a more complete account of the influence of factors on the results of activities, improve the accuracy of calculations.…”

Financial Aspects of Sustainable Rainwater Management in Small-Scale Urban Housing Communities

“…The economic profitability of the proposed designs was determined by two popular indicators involving the costs and benefits of each studied design, the simple Payback Period (PP) and the dynamic Benefits-Costs Ratio (BCR), which allowed us to introduce the time-related variable of value for money to the analysis [116][117][118][119][120]. Payback Period is a simple indicator of investment economic viability, based on annual cash flows and applicable in numerous aspects of economic, civil engineering, energy and agricultural applications, that allows for the determination of the time after which the benefits obtained from a tested investment, design or technology exceed the investment and operational costs [121][122][123][124][125]. The main commonly recognized disadvantage of the Payback Period is in its not taking into account the discounted value of cash flows during the assumed duration of the investment operational life [126].…”

Fluid-Dynamics Analysis and Structural Optimization of a 300 kW MicroGas Turbine Recuperator

“…They obtained feasible ranges of pressure drop Reynolds number and regenerator efficiency based on the penalty function. Maghsoudi et al [15] proposed a multi-factor theoretical methodology for analyzing, optimizing, and comparing potential platefin recuperators incorporated into micro gas turbines. Energetic, exergetic, economic and environmental factors are covered.…”