Abstract
With the increasing application of CHP and an industry transition to distributed energy, it is necessary to make a comprehensive economic analysis and comparison of the entire lifetime of CHP from the net present value (NPV), payback period, and cost-saving ratio (CSR). Five systems, including micro-CHP, gas boiler (GB), air-source heat pump (ASHP), domestic gas-fired heater and domestic electric hot water-heater, are simulated. First, this paper takes annual heat use efficiency (AHUE) into account to compare the economy of each domestic hot water (DHW) system. The results show that a domestic gas-fired heater system is the most economical option in the AHUE of 31.28%. The economic influence of CHP and gas-fired heater under different AHUE are then analyzed. The results show that the DHW system based on CHP is the best when the AHUE is more than 55.35%. Finally, three different operation strategies of CHP are considered in this paper. From the perspective of annual energy cost and payback, the internal combustion-based CHP with thermal energy system (TES) is superior to the other two strategies being studied. Considering the optimal economic benefits, the CSR of the three different operation strategies is 41.3%, 69.69% and 69.77%, respectively.
Highlights
In 2021, China pointed out that it is necessary to make a good commitment to the peak of carbon emission around 2030 and carbon neutrality by 2060
The simulation results of five systems with different configurations are presented and compared
The economic performances of the five systems are compared from net present value (NPV), payback, and cost-saving ratio (CSR) by formulating the evaluation model for different domestic hot water (DHW) systems’ configuration, including gas boiler (GB), air-source heat pump (ASHP), domestic gas-fired heater, domestic electric heater, and CHP systems
Summary
In 2021, China pointed out that it is necessary to make a good commitment to the peak of carbon emission around 2030 and carbon neutrality by 2060. This means that China’s energy mix will change in the future, with 68% thermal power generation and 38% of its total carbon emissions. Finding a way to generate electricity and heat to limit the development of thermal power generation has become the goal of decarburization in. Owing to the following characteristics of distributed CHP systems, the government attaches great importance to it: iations.
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