Thermo-economic optimization of irreversible Novikov power plant models including a proposal of dissipation cost

The main component of the cost-benefit ratio of the electricity generation market relates to the finite energy capacity of macroscopic systems to perform conversion processes. Within the context of Finite-Time Thermodynamics (FTT), we aim to introduce an economic feature analysis of a non-endoreversible power plant model, the so-called Chambadal-Novikov model. We emulate the irreversible energy conversion processes of real-world power plants via the non-endoreversibility parameter (R) and heat transfer laws such as the Newtonian, Dulong-Petit and Stefan-Boltzmann. We find a connection between two maximum economic-energetic optimization criteria: The power output and the generalized ecological one with the economic pi function. Furthermore, we show that the maximum power output regime can be considered as a short-term recovery regime; however, it produces considerably more dissipated energy towards the atmosphere. With the help of these economic regimes, we introduce a proposal of "dissipation cost"through the total running cost function, and it can lead us to propose an ecological tariff expressed as the difference between the ratio of the capitalization of fuel consumption cost and incomes. (c) 2023 Elsevier B.V. All rights reserved.