Exergoeconomic Analysis of a Combined Heat and Power System with the Micro Gas Turbine (MGTCHP)

This paper presents the results of exergy and exergoeconomic analyses applied to a combined heat and power system with micro-gas turbine (MGTCHP). Quantative balances of the exergy and exergy cost for each component and for the whole system are carefully considered, while exergy consumption and cost generation within the system are determined. The exergy analysis indicates that the exergetic efficiency of the MGTCHP system is 35.80% with 123 kW (as 99.15 kW-electrical power and 24.46 kW-hot water@363.15 K). On the other hand, the exergoeconomic analysis results show that the unit exergy cost of electrical power and hot water produced by the MGTCHP system are accounted as 26.808 €(GW)⁻¹ and 7.737 €(GW)⁻¹, respectively.