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Development of Total Capital Investment Estimation Module for Waste Heat Power Plant

Author

Listed:
  • Joon-Young Kim

    (Plant Engineering Center, Institute for Advanced Engineering (IAE), Yongin 17180, Korea)

  • Shelly Salim

    (Center for Integrated Access Systems, Gwangju Institute of Science and Technology, Gwangju 61005, Korea)

  • Jae-Min Cha

    (Plant Engineering Center, Institute for Advanced Engineering (IAE), Yongin 17180, Korea)

  • Sungho Park

    (Plant Engineering Center, Institute for Advanced Engineering (IAE), Yongin 17180, Korea)

Abstract

Power plants with waste heat collection and utilization have gained increasing interest in the high energy-consuming industries, such as steel-making and cement manufacturing, due to its energy efficiency. Waste heat power plants possess some intrinsic characteristics, for instance, the main equipment and the working fluids. However, at the time of this research, we could not find an economic analysis suitable to address the specialized aspects of waste heat power plant, making it difficult to measure the total capital investment needed for the business feasibility assessment. In this paper, we introduced our total capital investment estimation module developed for a waste heat power plant by considering its intrinsic features. We followed a systems engineering approach in designing and developing our module. We performed a requirements analysis of the stakeholders related to the waste heat power plant. Simultaneously, we consider the technical aspects by exploring the working fluids and main equipment implemented in the plant. Then, we developed the cost models for each equipment and used them as the basis of the proposed total capital investment estimation module. The performance verification showed that our proposed method achieved the initial accuracy target of a 5.78% error range when compared to the real data from the reference case study.

Suggested Citation

  • Joon-Young Kim & Shelly Salim & Jae-Min Cha & Sungho Park, 2019. "Development of Total Capital Investment Estimation Module for Waste Heat Power Plant," Energies, MDPI, vol. 12(8), pages 1-19, April.
    • Handle: RePEc:gam:jeners:v:12:y:2019:i:8:p:1492-:d:224416
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    References listed on IDEAS

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