A new perspective of thermoeconomic analysis on a gas-steam combined cycle power plant

In this study, we have applied the H&S model to a gas-steam combined cycle power plant (CCPP) and further explore its advantages for thermoeconomic evaluation. We introduce how E&S model irrationally assesses the performance of both productive and dissipative components from the viewpoint of fuel-product model. Then, we build the thermoeconomic model of a typical gas-steam CCPP based on H&S theory and show the potential of improvement for each component. For a CCPP, the results indicate that reducing non-energy cost of the steam turbine (ST) and the irreversibility of the combustion chamber (CC) can significantly lower the thermoeconomic cost of electrical power. For the condenser (CND) and stack (STA), the dissipative cost is responsible for the most of their thermoeconomic cost. It is concluded that thermoeconomic performance evaluation based H&S model gives a more reasonable result and can support the research on thermoeconomic optimisation.