Economics of Gas Turbine Inlet Air Cooling System for Power Enhancement
A cost estimate method is presented, which enables to compare inlet air cooling system for power enhancement of combustion turbine with other power generation system. A new energy conversion index is developed which arranges system design parameters in a dimensionless form and also exhibits running cost. It is suggested that the inlet air cooling system is equivalent to simple cycle or pumped storage in view of the dimensionless running cost. Next, a cost diagram relating capital cost to power generation cost is presented also in non-dimensional form, which could provide a measure to examine investment worth for a power producer. Moreover, cooling effectiveness as function of cooled inlet air temperature is investigated using specific thermal energy. It is revealed that cooling beyond dew point requires a larger thermal energy per electric energy produced and thus less economical unless the price of electricity depends on electricity demand.