Abstract
The purpose of the present work is to apply thermo-economic concepts to a Steam Injected Gas Turbine (STIG) electricity generation system and optimise it to indicate its economical advantages over a simple gas turbine. The system incorporates a combustion chamber, gas turbine, a compressor and a Heat Recovery Steam Generator (HRSG). A detailed sensitivity analysis was also performed to examine the impacts of the variation of the operating parameters. Genetic algorithm and direct search methods were used to find optimum values. The system is optimised, using thermo-economic concepts. The results demonstrate that the steam injected system shows a better thermodynamic and thermo-economic performance.
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