Thermoeconomic Optimization of a Ventilation Air Heater in a Backpressure Combined Heat and Power Plant
In this paper a method of optimization of plant components is demonstrated for the case of a ventilation air heater in a backpressure combined heat and power (CHP) plant. The method, known as thermoeconomic optimization, combines the concepts of exergy analysis with those of economic analysis. The optimization is carried out in two stages. First the heat-exchanger geometry is optimized for a range of different fixed heat-transfer areas using the trade-off between irreversibility due to pressure losses and that due to heat transfer over a finite temperature difference. In the second stage the economically justified cost of the heat-exchanger is determined using a version of thermoeconomic optimization known as the structural method. The concept of the coefficient of structural bonds is discussed and its use in structural investigation and thermoeconomic optimization is explained. Potential for further improvement in the plant efficiency through optimization is discussed with reference to a diagram of exergy flows and irreversibility rates known as the Grass-mann diagram.