Thermodynamic optimization of an irreversible regenerative closed Brayton cycle based on thermoeconomic performance criterion

An irreversible regenerative closed Brayton cycle has been optimized using a thermoeconomic objective criterion which is defined as the ratio of net power output to the total cost rate. The total cost rate includes fuel, investment, environmental and operation & maintenance cost rates. In the considered model pressure drops, heat leakages, irreversibilities due to finite-rate heat transfer and internal dissipations have been included. The effects of design parameters, such as isentropic temperature ratio of compressor and turbine, regenerator effectiveness, pressure loss parameter of the cycle, on the general and optimal thermoeconomic performances have been investigated in detail. The results of the study will be helpful for the performance analysis and optimization of practical Brayton heat engine systems. (C) 2014 Elsevier Inc. All rights reserved.