Thermo-economic optimization on a combined heat and power system with supercritical Rankine cycle for power-to-heat batteries

Abstract

The global energy structure is transforming to low-carbon, and it is urgent to construct a sustainable energy system mainly based on renewables. The power-to-heat batteries (P2HBs) show great potential for large-scale energy storage by converting low-cost renewable power to heat. This paper aims to study the thermodynamic and economic advantages of the P2HB integrated with a supercritical steam Rankine cycle (RC) to achieve combined heat and power (CHP) generation. Firstly, a system model of P2HB-CHP consuming grid valley power is developed. The system includes three sub-systems: P2HB, steam generator, and CHP. Thermodynamic and economic analysis models are developed, and the average exergy efficiency (ηav) and net present value (NPV) are formulated as performance evaluation targets, respectively. The genetic algorithm is used to perform multi-parameter optimization of the system. The thermodynamic optimization results show that the maximum ηav of supercritical P2HB-CHP is 0.47 %, 1.16 %, and 1.44 % higher than that of subcritical P2HB-CHP when the high working temperature of the molten salt reaches 505 °C, 570 °C, and 640 °C, respectively. The largest proportion of anergy is generated by electric heaters, over 72 %. The next largest proportion is heat exchangers, which is related to the heat transfer temperature differences. The results of the economic analysis show that the maximum NPV of supercritical P2HB-CHP is lower by 158 M$, lower by 74 M$, and higher by 55 M$ than that of subcritical P2HB-CHP when the high working temperature of the molten salt is reached 505 °C, 570 °C, and 640 °C, respectively. The high efficiency of supercritical RC reduces the costs of electric heaters and molten salts, but sets high demands on the heat exchangers. Although high-temperature molten salt results in high energy efficiency, the increased cost of molten salt reduces the profitability of the system.