Finite time thermoeconomic optimization for endoreversible refrigerators and heat pumps

Abstract

This paper reports a new kind of finite time thermoeconomic optimization for an endoreversible refrigerator and a heat pump. The cooling load for the refrigerator and the heating load for the heat pump per unit total cost are proposed as objective functions for the optimization. The optimum performance parameters which maximize the objective functions are investigated. Since the optimization technique consists of both investment and energy consumption costs, the obtained results are more general and realistic.