Chapter 4 - Combined thermal, economic, and environmental models

Abstract

A comprehensive analysis, assessment, and optimization of the energy system need to consider various and even conflicting criteria. Besides the energy criterion, other critical criteria are economical and environmental issues that must be considered simultaneously in order to achieve a more comprehensive model for energy systems. Such an analysis that considers these three criteria, including Energy, Economic, and Environmental issues are called 3E analysis in the literature (Moghadam et al., 2013; Balyani et al., 2015; Abbasi et al., 2018 [1–3]). In the previous chapters (Chapters 2 and 323), thermal models are discussed. These models can be used to assess, modify, or optimize the thermal characteristics of energy systems. It is known that a system with a high thermal performance may have an unacceptable cost that has negative economic justification on the usage of this type of system. This is due to the fact that energy systems with higher thermal performance usually need higher technology for manufacturing. Therefore, it imposes a high cost that sometimes has no justification. On the other hand, models that consider only economic fact might be unsatisfactory if energy depletion criteria and consumption of energy resources are considered. In this regard, a combined model that considers thermal and economic issues is required. This kind of model that combines thermal and economic criteria is called the thermoeconomic model. Another terminology that is used for this type of model is called exergoeconomics that is come from the combination of exergy and economic analyzes. In most reference, thermoeconomics and exergoeconomics are considered as equivalent terms. In analogy with the thermoeconomics (exergoeconomics), a new combined model called thermoenvironmental (exergoenvironmental) analysis is invented. This type of model combines thermodynamic (exergy) principles with the environmental analysis.