Modeling and thermoeconomic analysis of a 60 MW combined heat and power cycle via feedwater heating compared to a solar power tower

Considering the critical role of electricity in the industrial and economic infrastructures and the large investments in this sector, it is necessary to correctly utilize and maintain this great industry. Further, due to the increasing prices of energy, environmental damages, and the limitation of non-renewable energy sources, it is increasingly important to maximize the performance of energy production and transformation systems. This study aims to model and analyze the economic exergy of the 60 MW heat and power generation power plant in the Esfahan steel company, as the installation has never been modeled or optimized. After 50 years of operation, the results of modeling the steam power plant and exergoeconomic analysis can lead to optimal operating conditions and be of benefit to the stakeholders. The findings indicate that the condenser, or rather cooling tower is where the maximum loss of energy occurs, whereas the boiler has the most exergy loss while the turbine ranks next in exergy loss. Increasing the load ratio increases the cycle efficiency, whereas maximum efficiency and the least heat rate occur at full load. However, increased load also increases energy/exergy loss. Increasing the temperature of the feedwater plus decreasing the condenser pressure can reduce energy/exergy loss.