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Economic performance assessment of a novel combined power generation cycle

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  • Teng, Su
  • Hamrang, Farzad
  • Ashraf Talesh, Seyed Saman

Abstract

In this paper, to improve the performance of the thermodynamic system and reduce greenhouse gas emissions and fuel utilization, a novel power generation system based on syngas-fueled solid oxide fuel cell, gas turbine, organic flash cycle, and a thermoelectric generator was devised. The performance of the proposed system was analyzed through energy, exergy, exergoeconomic, economic, and environmental viewpoints. Finally, the multi-objective particle swarm optimization algorithm and TOPSIS and LINMAP decision-making methods were employed to obtain the optimum performance. According to the obtained results at the base operation condition, the main performance metrics were FX, FX, FX, FX, FX. For fuel cost of 3 $/GJ and electricity cost of FX, the payback time was around FXyears with a total profit of FX at the end of the economic lifetime. The parametric study revealed that the SOFC with anode and cathode gas recycling exhibits a higher exergy efficiency and lower Levelized total emissions. For the energy-cost optimization scenario, the optimum energy efficiency selected by LINMAP methods was FX, and the minimum total specific cost selected by TOPSIS method was FX. For the exergy-cost optimization scenario, the optimum exergy efficiency selected by TOPSIS was FX.

Suggested Citation

  • Teng, Su & Hamrang, Farzad & Ashraf Talesh, Seyed Saman, 2021. "Economic performance assessment of a novel combined power generation cycle," Energy, Elsevier, vol. 231(C).
    • Handle: RePEc:eee:energy:v:231:y:2021:i:c:s0360544221013402
    DOI: 10.1016/j.energy.2021.121092
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