Thermoeconomic analysis of a gas turbine and cascaded CO2 combined cycle using thermal oil as an intermediate heat-transfer fluid

This paper reports an investigation of a gas turbine (GT) and two-stage cascaded supercritical and transcritical CO2 (s-CO2/t-CO2) combined power cycle using liquefied natural gas (LNG) as a low temperature heat sink. This cycle may be well-suited for installation near LNG import terminals. GT exhaust supplies input heat to an intermediate s-CO2 cycle through a thermal oil loop. Waste heat from the s-CO2 cycle and residual heat from the GT cycle drives a lower temperature t-CO2 cycle. The t-CO2 cycle is LNG-cooled. A solution procedure is performed to perform a coupled analysis of the thermodynamic and economic performance of this combined cycle. Results show that the GT-cascade CO2 combined cycle has an optimal operating point determined by the s-CO2 compressor inlet conditions. Genetic algorithm (GA) optimization indicates that a Taurus 60 GT-cascaded CO2 combined cycle could reach 51.44% efficiency. For 20-year lifetime and 5% rate of interest, thermoeconomic optimization (after-tax profit, ATP as objective) results show ATP, levelized cost of electricity (LCOE) and net power are $2.935 x 10(6), $0.0420 kWh(-1) and 8.886 MW, respectively. Findings suggest that the GT-cascaded CO2 combined cycle is an efficient and commercially viable technology for power generation. (C) 2018 Elsevier Ltd. All rights reserved.