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Exergetic and Economic Analysis of a Cogeneration System Based Alternative Cycle


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DOI: https://doi.org/10.15866/irecon.v10i2.22091

Abstract


This article presents the exergetic and economic perspectives of a solar-based cogeneration system based on Organic Rankine Cycle cycle and parabolic through solar receiver technology. The study implements a thermodynamic analysis focusing on exergy criteria that continuously evaluates the effect of the working fluid, thermal source temperature, and mass flow in a parametric analysis. The solar system has been considered under specific environmental conditions in Barranquilla-Colombia. Finally, the study incorporates economic metrics such as Levelized Cost of Electricity, Net Present Value, and Payback Period in order to evaluate the system’s profitability. The results have stated that the exergy destruction features an increasing trend as the mass flow of both the ORC and solar collector increases. Moreover, the R1223 presents the best performance from the cases analyzed. Based on the working fluid R1223, a maximum energy efficiency of 19% has been achieved. The LCOE has featured a decreasing trend as the thermal source temperature rises with values that oscillate from 0.6 to 0.4 $/kWh. The payback period varies from 4 to 16 years, depending on the LCOE threshold scenario. The study has demonstrated that the incorporation of solar-based ORC technologies represents a significant opportunity for electricity supply in non-interconnected areas. Incorporating advanced cycle configurations is an interesting avenue in future studies.
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Keywords


Organic Rankine Cycle; Solar Energy; Thermodynamic Analysis; Economic Analysis

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