Electricity Production Cost Analysis of a Combined Cycle Power Plant

Energy Sources Part B Economics Planning and Policy

Abstract

Abstract In this study, thermoeconomic analysis of a combined cycle power plant (CCPP) is investigated. The aim of this study is to find the minimum electricity production cost (EPC). The variable parameters selected for the optimization are the compressor pressure ratio, turbine inlet temperature, isentropic efficiencies, discount rate, etc. In the analysis, all thermodynamic and thermoeconomic expressions are formulated as a function of these decision variables. Consequently, the developed model is solved and the conditions giving minimum unit EPC for each value of variable parameters are determined. Keywords: combined cycleelectricity production costthermoeconomic analysis Acknowledgments The authors would like to thank Bahri Sahin and Ismail Teke for the support granted for this study.

Keywords

Gas compressor Isentropic process Cost of electricity by source Production (economics) Electricity Variable (mathematics) Power station Electricity generation Turbine Environmental science Process engineering Overall pressure ratio Power (physics) Mathematics Economics Thermodynamics Engineering Physics Microeconomics

Subject Areas

Thermodynamic and Exergetic Analyses of Power and Cooling Systems ·Mechanical Engineering ·Physical Sciences

Refrigeration and Air Conditioning Technologies ·Mechanical Engineering ·Physical Sciences

Advanced Thermodynamic Systems and Engines ·Mechanical Engineering ·Physical Sciences

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Electricity Production Cost Analysis of a Combined Cycle Power Plant

Abstract

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