Exergetic, economic and exergy-based sustainability analysis of a power generation system with CO2 capture and methanol production

This study proposes a new biomass-based Combined Heat and Power (CHP)/renewable methanol production through captured carbon dioxide. A liquid organic hydrogen carrier (LOHC) stores and releases hydrogen. Literature review shows that LOHC has been integrated into such a system for the first time. The exergetic, exergoeconomic, and economic performance are researched. On average, results show that the exergetic efficiency of the system is 6.6 %. Depletion ratio (DR) is the depletion rate of the exergy source given to the system, which is desired to have low values. The sustainability index (SI) is the DR's reverse, representing the required exergy source per exergy destruction (exergy depletion). High values of this index indicate less exergy source consumed in the system. Exergetic ecological index (EECI) compares the useful products or depleted exergy per consumed exergy source destruction. The negative value of EECI means that the depletion of the exergy source is more significant than the product exergy and vice versa. The exergy-based sustainability indices, including DR, SI, and EECI, are found as 0.934, 1.071, and -0.868, respectively. Exergoeconomic analysis reveals that the exergy destruction rate at the system's capital cost (REX) value is 0.087x102. Heat Recovery Steam Generator (HRSG), gasifier, and Heat Exchanger 1 (HE1) are obtained as 5.153x10-2 (kW/<euro>), 1.707x10-2 (kW/<euro>), 3.094x10-2 (kW/<euro>) respectively. The payback period and the REX are 14.56 years and 0.087x10-2 (kW/<euro>), respectively; it seems long for an engineering application, but these technologies are relatively new, and their costs might decrease soon. Exergy destruction or lost power per capita, which means depleted investment, costs much less than 1. Although the thermodynamic values of the system seem low because irreversibilities occurred in chemical reactions, CO2 saved and produced methanol and cannot be ignored in terms of its environmental and economic benefits, considering CO2 taxes and the methanol economy.