Comparison of thermoeconomic cost calculation for a binary geothermal power plant

Abstract

This paper presents a comparison of the three thermoeconomic methodologies, SPECO (Specific exergy costing), MOPSA (Modified productive structure analysis) and Moran for an existing binary geothermal power plant in western Turkey. Exergy and exergoeconomic analyses of the Dora II binary geothermal power plant with 9543 kW net power output is carried out by using actual plant data to evaluate plant performances and thermoeconomic costs. The objective of the study is to perform the advantages and disadvantages of the presented thermoeconomic methods with respect to the one other using a binary geothermal plant data. The presented thermoeconomic methodologies are used to reveal and compare the cost flows and products interactions between the system components. The overall energy and exergy efficiencies of the plant are calculated to be 47.3% and 13.5%. The unit exergetic costs of electricity are calculated to be 0.0436 $/kWh for MOPSA method, 0.0367 $/kWh for SPECO method and 0.0355 $/kWh for MORAN method, respectively.