In the field of thermal systems, different approaches and methodologies have been proposed to merge thermodynamics and economics. They are usually referred as thermoeconomic methodologies and their objective is to find the optimum design of the thermal system given a specific objective function. Some thermoeconomic analyses go beyond that objective and attempt to find whether every component of...

In this paper, a multi-objective method is used to optimize a heat recovery steam generator (HRSG). Two objective functions have been used in the optimization, which are irreversibility and HRSG equivalent volume. The former expresses the exergetic efficiency and the latter demonstrates the cost of the HRSG. Decision variables are geometric and operational parameters of the HRSG. The result...

The purpose of this research is to investigate thermoeconomic optimization and exergy analysis of transcritical CO2 refrigeration cycle with an ejector. After modeling thermodynamic equations of elements and considering optimization parameters of emerging temperature of gas of cooler (Tgc) , emerging pressure of cooler's gas (Pgc) , and eva...

In this paper, a multi-objective method is used to optimize a heat recovery steam generator (HRSG). Two objective functions have been used in the optimization, which are irreversibility and HRSG equivalent volume. The former expresses the exergetic efficiency and the latter demonstrates the cost of the HRSG. Decision variables are geometric and operational parameters of the HRSG. The results of...

This paper presents a theoretical and practical analysis of the application of the thermoeconomic method. A furnace for heating air is evaluated using the methodology. The furnace works with solar energy, received from a parabolic trough collector and with electricity supplied by an electric power utility. The methodology evaluates the process by the first and second law of thermodynamics as th...