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

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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.

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  • 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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    Citations

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    Cited by:

    1. Zhen Tian & Yingying Yue & Yuan Zhang & Bo Gu & Wenzhong Gao, 2020. "Multi-Objective Thermo-Economic Optimization of a Combined Organic Rankine Cycle (ORC) System Based on Waste Heat of Dual Fuel Marine Engine and LNG Cold Energy Recovery," Energies, MDPI, vol. 13(6), pages 1-23, March.
    2. Compernolle, Tine & Welkenhuysen, Kris & Petitclerc, Estelle & Maes, Dries & Piessens, Kris, 2019. "The impact of policy measures on profitability and risk in geothermal energy investments," Energy Economics, Elsevier, vol. 84(C).
    3. Yu, Haoshui & Eason, John & Biegler, Lorenz T. & Feng, Xiao, 2017. "Simultaneous heat integration and techno-economic optimization of Organic Rankine Cycle (ORC) for multiple waste heat stream recovery," Energy, Elsevier, vol. 119(C), pages 322-333.
    4. Shiqi Wang & Zhongyuan Yuan, 2020. "A Hot Water Split-Flow Dual-Pressure Strategy to Improve System Performance for Organic Rankine Cycle," Energies, MDPI, vol. 13(13), pages 1-21, June.
    5. Leveni, Martina & Manfrida, Giampaolo & Cozzolino, Raffaello & Mendecka, Barbara, 2019. "Energy and exergy analysis of cold and power production from the geothermal reservoir of Torre Alfina," Energy, Elsevier, vol. 180(C), pages 807-818.
    6. Van Erdeweghe, Sarah & Van Bael, Johan & Laenen, Ben & D'haeseleer, William, 2018. "Feasibility study of a low-temperature geothermal power plant for multiple economic scenarios," Energy, Elsevier, vol. 155(C), pages 1004-1012.
    7. Manente, Giovanni & Da Lio, Luca & Lazzaretto, Andrea, 2016. "Influence of axial turbine efficiency maps on the performance of subcritical and supercritical Organic Rankine Cycle systems," Energy, Elsevier, vol. 107(C), pages 761-772.
    8. Usman, Muhammad & Imran, Muhammad & Yang, Youngmin & Lee, Dong Hyun & Park, Byung-Sik, 2017. "Thermo-economic comparison of air-cooled and cooling tower based Organic Rankine Cycle (ORC) with R245fa and R1233zde as candidate working fluids for different geographical climate conditions," Energy, Elsevier, vol. 123(C), pages 353-366.
    9. Xia, Jiaxi & Wang, Jiangfeng & Zhou, Kehan & Zhao, Pan & Dai, Yiping, 2018. "Thermodynamic and economic analysis and multi-objective optimization of a novel transcritical CO2 Rankine cycle with an ejector driven by low grade heat source," Energy, Elsevier, vol. 161(C), pages 337-351.
    10. Zhang, Cheng & Liu, Chao & Wang, Shukun & Xu, Xiaoxiao & Li, Qibin, 2017. "Thermo-economic comparison of subcritical organic Rankine cycle based on different heat exchanger configurations," Energy, Elsevier, vol. 123(C), pages 728-741.
    11. Yu, Haoshui & Kim, Donghoi & Gundersen, Truls, 2019. "A study of working fluids for Organic Rankine Cycles (ORCs) operating across and below ambient temperature to utilize Liquefied Natural Gas (LNG) cold energy," Energy, Elsevier, vol. 167(C), pages 730-739.
    12. Fuhaid Alshammari & Apostolos Karvountzis-Kontakiotis & Apostolos Pesyridis & Muhammad Usman, 2018. "Expander Technologies for Automotive Engine Organic Rankine Cycle Applications," Energies, MDPI, vol. 11(7), pages 1-36, July.
    13. O’Donovan, Alan & Grimes, Ronan & Sikora, Paul, 2019. "Enhanced performance of air-cooled thermal power plants using low temperature thermal storage," Applied Energy, Elsevier, vol. 250(C), pages 1673-1685.
    14. Yang, Fubin & Zhang, Hongguang & Bei, Chen & Song, Songsong & Wang, Enhua, 2015. "Parametric optimization and performance analysis of ORC (organic Rankine cycle) for diesel engine waste heat recovery with a fin-and-tube evaporator," Energy, Elsevier, vol. 91(C), pages 128-141.
    15. Martelli, Emanuele & Capra, Federico & Consonni, Stefano, 2015. "Numerical optimization of Combined Heat and Power Organic Rankine Cycles – Part A: Design optimization," Energy, Elsevier, vol. 90(P1), pages 310-328.
    16. Van Erdeweghe, Sarah & Van Bael, Johan & Laenen, Ben & D’haeseleer, William, 2019. "Design and off-design optimization procedure for low-temperature geothermal organic Rankine cycles," Applied Energy, Elsevier, vol. 242(C), pages 716-731.
    17. Luo, Junwei & Lu, Pei & Chen, Kaihuang & Luo, Xianglong & Chen, Jianyong & Liang, Yingzong & Yang, Zhi & Chen, Ying, 2023. "Experimental and simulation investigation on the heat exchangers in an ORC under various heat source/sink conditions," Energy, Elsevier, vol. 264(C).
    18. Yu, Haoshui & Feng, Xiao & Wang, Yufei, 2015. "A new pinch based method for simultaneous selection of working fluid and operating conditions in an ORC (Organic Rankine Cycle) recovering waste heat," Energy, Elsevier, vol. 90(P1), pages 36-46.
    19. Deng, Qianli & Jiang, Xianglin & Zhang, Limao & Cui, Qingbin, 2015. "Making optimal investment decisions for energy service companies under uncertainty: A case study," Energy, Elsevier, vol. 88(C), pages 234-243.
    20. Patrick Linke & Athanasios I. Papadopoulos & Panos Seferlis, 2015. "Systematic Methods for Working Fluid Selection and the Design, Integration and Control of Organic Rankine Cycles—A Review," Energies, MDPI, vol. 8(6), pages 1-47, May.
    21. Sanne Lemmens, 2016. "Cost Engineering Techniques and Their Applicability for Cost Estimation of Organic Rankine Cycle Systems," Energies, MDPI, vol. 9(7), pages 1-18, June.
    22. Syed Safeer Mehdi Shamsi & Assmelash A. Negash & Gyu Baek Cho & Young Min Kim, 2019. "Waste Heat and Water Recovery System Optimization for Flue Gas in Thermal Power Plants," Sustainability, MDPI, vol. 11(7), pages 1-20, March.
    23. Serafino, Aldo & Obert, Benoit & Vergé, Léa & Cinnella, Paola, 2020. "Robust optimization of an organic Rankine cycle for geothermal application," Renewable Energy, Elsevier, vol. 161(C), pages 1120-1129.

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