Methodology of determination of the optimal investment strategy in single-fuel CHP plants

Bartnik, Ryszard; Hnydiuk-Stefan, Anna; Buryn, Zbigniew; Skomudek, W.; Otawa, Aleksandra

doi:10.1016/j.esr.2020.100572

Cited by 3 publications

(1 citation statement)

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“…They make it possible to easily and quickly analyze variations in, for example, the value of NPV (net present value) in order to find its optimal value [11]. In addition, these notations provide means for the analysis of variations in this value depending on changes in time, among others in energy prices and environmental charges [12].…”

Section: Mathematical Models Applying Continuous Time Notation In Tec...mentioning

confidence: 99%

Technical and Economic Analysis of Low-Emissions Modernization of Existing Heating Plants in Poland

et al. 2021

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An analysis is performed with regards to technologically outdated heating plants operating in many areas where fossil fuels such as coal and gas are utilized, in order to consider the alternatives of their modernization. By application of a chart using a variety of alternatives, the economic feasibility of executing two types of modernization of heating plants are explored: a single-fuel gas–steam CHP plant and a coal-fired heating plant to a coal-fired CHP plant with a condensing turbine. This study demonstrates how the selection of modernization technology is affected, in terms of profitability, by the value and variability in time of the price relationships between energy carriers, rapidly growing charges related to CO2 emission allowances, and costs depending on other pollutant emissions that originate from the operation of electricity and heat sources powered by fossil fuels. In both technical cases of modernization, lower prices of energy carriers coupled with CO2 emissions allowances lead to higher prices of electricity that can be sold as additional products following this modernization, and consequently, the specific cost of heat production in the repowered heat sources is lowered. The calculations were performed by the application of models of heating plant modernization applying continuous time notations, which offer the determination of the most suitable time of initiation of this modernization. Such relationships would be difficult to describe in the case of the use of traditional discrete models. In the case of a simultaneous increase in the prices of all main factors affecting the cost of heat generation, such as the price of gas, electricity and CO2 emissions, the fastest modernization of the heating plant to single-fuel gas–steam CHP provides the possibility of the best economic performance.

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Section: Mathematical Models Applying Continuous Time Notation In Tec...mentioning

confidence: 99%

Technical and Economic Analysis of Low-Emissions Modernization of Existing Heating Plants in Poland

et al. 2021

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Modeling and simulation of cogeneration and trigeneration applications of natural gas

Behbahani

2024

Advances Natural Gas: Formation, Processing, and Applications. Volume 8: Natural Gas Process Modelling and Simulation

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Opportunity Analysis of Cogeneration and Trigeneration Solutions: An Application in the Case of a Drug Factory

2022

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Increasing the energy efficiency of a drug factory is the main purpose of this paper. Different configurations of cogeneration systems are analyzed to meet most of the heat demand and to flatten the heat load duration curve. Due to the variable nature of heat demand, there is a need for heat storage, but there is also a need for the fragmentation of power into two units of cogeneration to increase the operational flexibility in these plants. When the heat produced by the combined heat and power (CHP) unit is insufficient to meet the heat load, the heat stored can then be used to meet that demand. Heat storage plays a significant role in managing the heat supply and demand profiles in the CHP system, and in reducing its capacity and size. Trigeneration and heat storage are used as options to increase the operating time of cogeneration units and, implicitly, the amounts of heat and electricity generated in cogeneration. The results of this study demonstrate the economic and technical viability of the cogeneration and trigeneration solutions proposed. For the values of electricity and natural gas prices at the time of the analysis (2021), Scenario 4 is characterized as the optimal economical and technical option for the current rate of consumption, as it ensures the highest values of heat and electricity production and the shortest investment payback period (5.06 years). Compared with separate heat and power generation, we highlight a primary energy saving of 25.35% and a reduction in CO2 emissions of 241,138 kg CO2/year.

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Methodology of determination of the optimal investment strategy in single-fuel CHP plants

Cited by 3 publications

References 35 publications

Technical and Economic Analysis of Low-Emissions Modernization of Existing Heating Plants in Poland

Technical and Economic Analysis of Low-Emissions Modernization of Existing Heating Plants in Poland

Modeling and simulation of cogeneration and trigeneration applications of natural gas

Opportunity Analysis of Cogeneration and Trigeneration Solutions: An Application in the Case of a Drug Factory

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