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Cogeneration – Investment dilemma

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  • Radulovic, Dusko
  • Skok, Srdjan
  • Kirincic, Vedran

Abstract

Energy companies face several crucial investment dilemmas in the liberalized energy market. These are: the availability of energy sources, feed-in tariffs, market positioning and consumer satisfaction. Research analyzes profitability of the Cogeneration (Combined Heat and Power, CHP) project in the city of Rijeka. The CHP is designed to provide district heating for the University campus, the Hospital and active private consumers of district heating, and bring about further sales of electricity. Revitalization of the CHP project comprises necessary adaptive actions in the distribution power system but also real time monitoring, which enables the CHP island operation, with uninterrupted electric and thermal energy supply of critical consumers (e.g. hospital) in case of a serious disturbance. Results indicate the project profitability under several conditions: non-government regulation for heating price, feed-in tariffs and guaranteed sale of electricity together with added value from automatic control system (ACS)–island operation.

Suggested Citation

  • Radulovic, Dusko & Skok, Srdjan & Kirincic, Vedran, 2012. "Cogeneration – Investment dilemma," Energy, Elsevier, vol. 48(1), pages 177-187.
    • Handle: RePEc:eee:energy:v:48:y:2012:i:1:p:177-187
    DOI: 10.1016/j.energy.2012.06.057
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    3. Čulig-Tokić, Dario & Krajačić, Goran & Doračić, Borna & Mathiesen, Brian Vad & Krklec, Robert & Larsen, Jesper Møller, 2015. "Comparative analysis of the district heating systems of two towns in Croatia and Denmark," Energy, Elsevier, vol. 92(P3), pages 435-443.
    4. Gaspari, Michele & Lorenzoni, Arturo & Frías, Pablo & Reneses, Javier, 2017. "Integrated Energy Services for the industrial sector: an innovative model for sustainable electricity supply," Utilities Policy, Elsevier, vol. 45(C), pages 118-127.
    5. Isa, Normazlina Mat & Tan, Chee Wei & Yatim, A.H.M., 2018. "A comprehensive review of cogeneration system in a microgrid: A perspective from architecture and operating system," Renewable and Sustainable Energy Reviews, Elsevier, vol. 81(P2), pages 2236-2263.
    6. Kovačić, Danijel & Usenik, Janez & Bogataj, Marija, 2017. "Optimal decisions on investments in Urban Energy Cogeneration plants – Extended MRP and fuzzy approach to the stochastic systems," International Journal of Production Economics, Elsevier, vol. 183(PB), pages 583-595.
    7. Verbruggen, Aviel & Dewallef, Pierre & Quoilin, Sylvain & Wiggin, Michael, 2013. "Unveiling the mystery of Combined Heat & Power (cogeneration)," Energy, Elsevier, vol. 61(C), pages 575-582.
    8. Ismail, Ahmad Kamal & Abdullah, Mohd Zulkifly & Zubair, Mohammed & Ahmad, Zainal Arifin & Jamaludin, Abdul Rashid & Mustafa, Khairil Faizi & Abdullah, Mohamad Nazir, 2013. "Application of porous medium burner with micro cogeneration system," Energy, Elsevier, vol. 50(C), pages 131-142.
    9. Tereshchenko, Tymofii & Nord, Natasa, 2016. "Energy planning of district heating for future building stock based on renewable energies and increasing supply flexibility," Energy, Elsevier, vol. 112(C), pages 1227-1244.
    10. Badami, M. & Camillieri, F. & Portoraro, A. & Vigliani, E., 2014. "Energetic and economic assessment of cogeneration plants: A comparative design and experimental condition study," Energy, Elsevier, vol. 71(C), pages 255-262.
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