This paper focuses on the effective dielectric constant of water-based plasmonic nanofluid containing SiO2/Ag core/shell nanoparticles (NPs). Two effective models, based on S-parameter retrieval method and Maxwell-Garnett effective medium theory, are employed. The effective dielectric constants predicted by the two effective models are compared and the applicability is evaluated by comparing the reflectance and absorptance. Three influence factors, including volume fraction, core-shell ratio, and size of NPs, are considered. Results show both of the two effective models can predict reliable effective dielectric constants when the volume fraction, size, and core-shell ratio of nanoparticles are 5%, 25 nm, and 4:1 respectively. Only small deviations appear in the resonant region under this condition. With the increase of volume fraction, shell proportion, or size, deviations in the resonant region become larger for both of the two effective models. Therefore, the predicted effective dielectric constants are not suitable for the prediction of optical properties, because the resonant region is the key region of the solar conversion for plasmonic nanofluids. Hence, the parameters of NPs need to be changed to make the effective models applicable. Moreover, the effective model based on S-parameter retrieval can predict more reliable dielectric constant than the effective model based on Maxwell-Garnett theory.
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