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Economic system optimization of air-cooled organic Rankine cycles powered by low-temperature geothermal heat sources

Author

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  • Walraven, Daniël
  • Laenen, Ben
  • D'haeseleer, William

Abstract

In this paper, an economic system optimization of an air-cooled organic Rankine cycle, powered by geothermal heat, is performed. The goal is to find the configuration of the ORC (organic Rankine cycle) which gives the highest possible net present value for the project. The cycle parameters, heat exchanger geometry and air-cooled condenser geometry are optimized together. The developed method is applied to a case study, based on a Belgian geothermal project, after which the most important parameters are varied. It is shown that the air-cooled condenser is a crucial component from both a thermodynamic and economic point of view. The discount rate, electricity price, brine inlet temperature and annual electricity price evolution have a strong influence on the configuration and efficiency of the ORC and on the economics of the project.

Suggested Citation

  • Walraven, Daniël & Laenen, Ben & D'haeseleer, William, 2015. "Economic system optimization of air-cooled organic Rankine cycles powered by low-temperature geothermal heat sources," Energy, Elsevier, vol. 80(C), pages 104-113.
    • Handle: RePEc:eee:energy:v:80:y:2015:i:c:p:104-113
    DOI: 10.1016/j.energy.2014.11.048
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    References listed on IDEAS

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    1. Astolfi, Marco & Romano, Matteo C. & Bombarda, Paola & Macchi, Ennio, 2014. "Binary ORC (Organic Rankine Cycles) power plants for the exploitation of medium–low temperature geothermal sources – Part B: Techno-economic optimization," Energy, Elsevier, vol. 66(C), pages 435-446.
    2. Saleh, Bahaa & Koglbauer, Gerald & Wendland, Martin & Fischer, Johann, 2007. "Working fluids for low-temperature organic Rankine cycles," Energy, Elsevier, vol. 32(7), pages 1210-1221.
    3. Astolfi, Marco & Romano, Matteo C. & Bombarda, Paola & Macchi, Ennio, 2014. "Binary ORC (organic Rankine cycles) power plants for the exploitation of medium–low temperature geothermal sources – Part A: Thermodynamic optimization," Energy, Elsevier, vol. 66(C), pages 423-434.
    4. Madhawa Hettiarachchi, H.D. & Golubovic, Mihajlo & Worek, William M. & Ikegami, Yasuyuki, 2007. "Optimum design criteria for an Organic Rankine cycle using low-temperature geothermal heat sources," Energy, Elsevier, vol. 32(9), pages 1698-1706.
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