Energy, Exergy, and Economic Investigation of Thermodynamics in Combined Heat and Power Plants Using Multi-Objective Henry Gas Solubility Optimization

Abstract

This research study proposes a technique for the multi-objective optimization (MOO) of the energy, exergy, and economy (3E) factors in the context of a combined heat and power plant (CHPP) system. The rapidly increasing demand for energy necessitates improvements in plant equipment performance standards to operate the CHPP at optimal levels. Nowadays, most power plants' design has its basis in performance requirements that apply the first law of thermodynamics, and the best method for determining the extent of losses that arise within such a system is exergy analysis. Exergy analysis also offers a means of determining energy quality, and therefore designers can use this information to develop thermodynamic systems that can be operated with greater efficiency. CHPP optimization on an economic basis has become a significant issue due to the complexity of the structure. Accordingly, a novel Henry Gas Solubility Optimization (HGSO) model is employed to achieve MOO in this CHPP-based case. The principal aim is to establish the decision variables that will bring about a globally optimum solution. The process involves four scenarios, at which point a heat exchanger network (HEN) is designed to save energy and optimize the economic outcome. This paper also analyzes the profit from electricity and steam produced. It found that a payback period is approximately 2 to 3 years. The findings confirmed that the approach tested may have practical applications in improving CHPP outcomes in the based case context.