Finite-time exergoeconomic performance optimization for a universal steady-flow endoreversible heat pump model

The exergoeconomic performance of a class of universal steady-flow endoreversible heat pump cycle model consisting of one heat-absorbing branch, two heat-releasing branches and two adiabatic branches is optimized by using the theory of finite-time thermodynamics. The analytical formulae about the profit rate versus the working fluid temperature ratio as well as the coefficient of performance (COP) versus the working fluid temperature ratio are derived. The effects of price ratio on the profit rate versus COP as well as on the finite-time exergoeconomic performance bound of the universal heat pump cycle are discussed by numerical examples. The results obtained herein include the performance characteristics of endoreversible Otto, Atkinson, Diesel, Dual, Brayton and Carnot heat pump cycles.