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PEACES: A Program for the Economic Analysis of Combined Energy Systems

[+] Author Affiliations
Joseph Roy-Aikins

University of Durban-Westville, Durban, South Africa

Paper No. 2000-GT-0302, pp. V003T03A004; 11 pages
doi:10.1115/2000-GT-0302
From:
  • ASME Turbo Expo 2000: Power for Land, Sea, and Air
  • Volume 3: Heat Transfer; Electric Power; Industrial and Cogeneration
  • Munich, Germany, May 8–11, 2000
  • Conference Sponsors: International Gas Turbine Institute
  • ISBN: 978-0-7918-7856-9
  • Copyright © 2000 by ASME

abstract

Industrial concerns, the world over, are embracing gas/steam turbine combined cycles and combined heat and power as means of meeting energy needs. The main reason is that the potential for energy savings is huge, due to the utilisation of waste heat as useful energy — the key to the excellent thermodynamic performance exhibited by combined energy systems. Excellent thermodynamic performance may not be matched by excellent economic performance, and in certain cases it may not be economical to choose a combined energy system over a mix of supply from conventional plants. The factors governing the economics of combined energy are numerous, though a few are decisive. In choosing a plant for a given duty, an economic assessment of life-cycle costs should be carried out for candidate plants, to arrive at the most economically viable investment proposal, among alternatives.

With this in mind, a computer program PEACES was developed to aid the appraisal of energy investment proposals based on combined energy systems. The economic model on which the program was structured is described in this paper. A case study is carried out, where the software was used at arriving at the most economically viable solution for meeting the energy needs at an industrial site.

Copyright © 2000 by ASME

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