Comprehensive economic analysis and multi-objective optimization of an integrated gasification power generation cycle

A novel power generation plant was devised based on the biomass integrated fired combined cycle as the central unit and supercritical CO2 cycle, regenerative organic Rankine cycle, and steam Rankine cycle as the waste heat recovery subsystems. Exergoeconomic and economic criteria were defined to evaluate the feasibility of the system for investment and construction. Thus, net present value, payback period, and sum unit cost of products were considered as the system's evaluation criteria from the economic viewpoint. The system was firstly analyzed by developing a precise model in the Engineering Equation Solver. Then, optimal conditions were obtained by coupling the outputs of modeling procedure with artificial neural network, multi-objective particle swarm optimization, and the technique for order of preference by similarity to ideal solution (TOPSIS) approaches. It was concluded that the system has an exergy efficiency of 42.7 % with a power generation capacity of 7.768 MW, a total cost rate of 34.79 $/GJ, and a total profit and payback period of 23.3 $M and 5.7 years. For the optimization results in the s-NPVSUCP scenario, the optimum values of 58.99 %, 30.6 $M, 35.61 $/GJ were obtained for exergy efficiency, NPV, and SUCP, respectively. (c) 2021 Institution of Chemical Engineers. Published by Elsevier B.V. All rights reserved.