Dynamic exergy analysis - Modelica-based tool development: A case study of CHP district heating in Bottrop, Germany

•A Modelica®‐based tool to perform a fully‐dynamic exergy analysis has been developed.•A Modelica®‐based tool to automatically generate a “Hydraulic network” has been developed.•Dynamic exergy analysis of a model of a city district in Bottrop, Germany has been performed.•The case study has been optimized with respect to the overall exergy efficiency by means of a parameter study.