Advanced Exergoeconomic Analysis of Organic Rankine Cycle Waste Heat Recovery System of a Marine Power Plant

Abstract

In this paper, superheated and saturated vapor ORCs commonly utilized as waste heat recovery systems of a marine power plant are investigated. First, a parametric study with different organic fluids has been carried out by applying conventional exergy and exergoeconomic analyses to the system considered in order to identify the best possible operating conditions and also to evaluate the findings of conventional exergy-based analyses. Then, advanced exergy and exergoeconomic analyses have been performed on ORCs by splitting exergy destruction rates, exergy destruction costs and investment costs of components and overall system to identify avoidable parts of costs and exergy destructions. Finally, decision criteria were suggested on the selection of more appropriate system depending on the results of the analysis.