IDEAS home Printed from https://ideas.repec.org/a/gam/jeners/v13y2020i16p4252-d400039.html
   My bibliography  Save this article

Impacts of Investment Cost, Energy Prices and Carbon Tax on Promoting the Combined Cooling, Heating and Power (CCHP) System of an Amusement Park Resort in Shanghai

Author

Listed:
  • Liting Zhang

    (Innovation Institute for Sustainable Maritime Architecture Research and Technology, Qingdao University of Technology, Qingdao 266033, China
    Faculty of Environmental Engineering, The University of Kitakyushu, Kitakyushu 808-0135, Japan)

  • Weijun Gao

    (Innovation Institute for Sustainable Maritime Architecture Research and Technology, Qingdao University of Technology, Qingdao 266033, China
    Faculty of Environmental Engineering, The University of Kitakyushu, Kitakyushu 808-0135, Japan)

  • Yongwen Yang

    (Energy and Environment Engineering Institute, Shanghai University of Electric Power, Shanghai 200090, China)

  • Fanyue Qian

    (Innovation Institute for Sustainable Maritime Architecture Research and Technology, Qingdao University of Technology, Qingdao 266033, China
    Faculty of Environmental Engineering, The University of Kitakyushu, Kitakyushu 808-0135, Japan)

Abstract

Poor economic performance has limited the diffusion of the combined cooling, heating, and power (CCHP) system. Various factors influence the economic performance of the CCHP system. To analyze the impacts of these different factors and promote the CCHP system, this study evaluated its comprehensive performance through a multi-criteria method, using an amusement park resort in Shanghai as a research case. First, three CCHP systems with different penetration rates were presented and simulated in a transient simulation model for comparison. The economic and environmental performance of these different penetration CCHP systems were evaluated based on the dynamic payback period and carbon dioxide emissions. The impacts of investment cost, energy prices, investment subsidy and a carbon tax on the economic performance of the three systems were discussed, and a sensitivity analysis was used to compare these factors. The results show that the current subsidy can reduce the economic gap between the CCHP system and the conventional system, but it still needs to be increased by 1.71 times to achieve market competitiveness of the CCHP system with 100% penetration under the current investment cost and energy prices. In addition, the introduction of a carbon tax could accelerate the promotion of the CCHP system. When the carbon tax reaches 25 $/ton, the CCHP system becomes the best choice of energy supply system.

Suggested Citation

  • Liting Zhang & Weijun Gao & Yongwen Yang & Fanyue Qian, 2020. "Impacts of Investment Cost, Energy Prices and Carbon Tax on Promoting the Combined Cooling, Heating and Power (CCHP) System of an Amusement Park Resort in Shanghai," Energies, MDPI, vol. 13(16), pages 1-22, August.
    • Handle: RePEc:gam:jeners:v:13:y:2020:i:16:p:4252-:d:400039
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/1996-1073/13/16/4252/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/1996-1073/13/16/4252/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Liu, Mingxi & Shi, Yang & Fang, Fang, 2014. "Combined cooling, heating and power systems: A survey," Renewable and Sustainable Energy Reviews, Elsevier, vol. 35(C), pages 1-22.
    2. Aikaterini Papadimitriou & Vassilios Vassiliou & Kalliopi Tataraki & Eugenia Giannini & Zacharias Maroulis, 2020. "Economic Assessment of Cogeneration Systems in Operation," Energies, MDPI, vol. 13(9), pages 1-15, May.
    3. Kalliopi Tataraki & Eugenia Giannini & Konstantinos Kavvadias & Zacharias Maroulis, 2020. "Cogeneration Economics for Greenhouses in Europe," Energies, MDPI, vol. 13(13), pages 1-27, July.
    4. Lin, Boqiang & Jia, Zhijie, 2018. "The energy, environmental and economic impacts of carbon tax rate and taxation industry: A CGE based study in China," Energy, Elsevier, vol. 159(C), pages 558-568.
    5. Hossein Nami & Amjad Anvari-Moghaddam & Ahmad Arabkoohsar, 2020. "Thermodynamic, Economic, and Environmental Analyses of a Waste-Fired Trigeneration Plant," Energies, MDPI, vol. 13(10), pages 1-18, May.
    6. Wang, Jiang-Jiang & Jing, You-Yin & Zhang, Chun-Fa, 2010. "Optimization of capacity and operation for CCHP system by genetic algorithm," Applied Energy, Elsevier, vol. 87(4), pages 1325-1335, April.
    7. Xiao Gong & Fan Li & Bo Sun & Dong Liu, 2020. "Collaborative Optimization of Multi-Energy Complementary Combined Cooling, Heating, and Power Systems Considering Schedulable Loads," Energies, MDPI, vol. 13(4), pages 1-17, February.
    8. Zhu, Xingyi & Zhan, Xiangyan & Liang, Hao & Zheng, Xuyue & Qiu, Yuwei & Lin, Jian & Chen, Jincan & Meng, Chao & Zhao, Yingru, 2020. "The optimal design and operation strategy of renewable energy-CCHP coupled system applied in five building objects," Renewable Energy, Elsevier, vol. 146(C), pages 2700-2715.
    9. Zheng, C.Y. & Wu, J.Y. & Zhai, X.Q. & Wang, R.Z., 2016. "Impacts of feed-in tariff policies on design and performance of CCHP system in different climate zones," Applied Energy, Elsevier, vol. 175(C), pages 168-179.
    10. Tichi, S.G. & Ardehali, M.M. & Nazari, M.E., 2010. "Examination of energy price policies in Iran for optimal configuration of CHP and CCHP systems based on particle swarm optimization algorithm," Energy Policy, Elsevier, vol. 38(10), pages 6240-6250, October.
    11. Fragaki, Aikaterini & Andersen, Anders N., 2011. "Conditions for aggregation of CHP plants in the UK electricity market and exploration of plant size," Applied Energy, Elsevier, vol. 88(11), pages 3930-3940.
    12. Jradi, M. & Riffat, S., 2014. "Tri-generation systems: Energy policies, prime movers, cooling technologies, configurations and operation strategies," Renewable and Sustainable Energy Reviews, Elsevier, vol. 32(C), pages 396-415.
    13. Wei, Dajun & Chen, Alian & Sun, Bo & Zhang, Chenghui, 2016. "Multi-objective optimal operation and energy coupling analysis of combined cooling and heating system," Energy, Elsevier, vol. 98(C), pages 296-307.
    14. Li, Longxi & Yu, Shiwei & Mu, Hailin & Li, Huanan, 2018. "Optimization and evaluation of CCHP systems considering incentive policies under different operation strategies," Energy, Elsevier, vol. 162(C), pages 825-840.
    15. Xiaolin Chu & Dong Yang & Jia Li, 2019. "Sustainability Assessment of Combined Cooling, Heating, and Power Systems under Carbon Emission Regulations," Sustainability, MDPI, vol. 11(21), pages 1-17, October.
    16. Pina, Eduardo A. & Lozano, Miguel A. & Serra, Luis M., 2017. "Optimal operation and marginal costs in simple trigeneration systems including thermal energy storage," Energy, Elsevier, vol. 135(C), pages 788-798.
    17. Wu, Jing-yi & Wang, Jia-long & Li, Sheng, 2012. "Multi-objective optimal operation strategy study of micro-CCHP system," Energy, Elsevier, vol. 48(1), pages 472-483.
    18. Wang, Lang & Lu, Jianfeng & Wang, Weilong & Ding, Jing, 2016. "Energy, environmental and economic evaluation of the CCHP systems for a remote island in south of China," Applied Energy, Elsevier, vol. 183(C), pages 874-883.
    19. Dong, Jun & Feng, Tian-tian & Sun, Hong-xing & Cai, Hong-xin & Li, Rong & Yang, Yisheng, 2016. "Clean distributed generation in China: Policy options and international experience," Renewable and Sustainable Energy Reviews, Elsevier, vol. 57(C), pages 753-764.
    20. Yang, G. & Zhai, X.Q., 2019. "Optimal design and performance analysis of solar hybrid CCHP system considering influence of building type and climate condition," Energy, Elsevier, vol. 174(C), pages 647-663.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Ardvin Kester S. Ong & Jerald C. Antonio & Dioseph Andre F. Anduyo & Shandon Marion L. Oabel & Jade Francis N. San Miguel & Emil Renfred A. Rendon & Christelle Joy M. Rosete, 2024. "Analysis of Actual Visitation to Amusement Parks and Recreational Facilities," Societies, MDPI, vol. 14(9), pages 1-21, August.
    2. Xin Zhao & Yanqi Chen & Gang Xu & Heng Chen, 2022. "Economic Assessment of Operation Strategies on Park-Level Integrated Energy System Coupled with Biogas: A Case Study in a Sewage Treatment Plant," Energies, MDPI, vol. 16(1), pages 1-21, December.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Das, Barun K. & Al-Abdeli, Yasir M. & Kothapalli, Ganesh, 2018. "Effect of load following strategies, hardware, and thermal load distribution on stand-alone hybrid CCHP systems," Applied Energy, Elsevier, vol. 220(C), pages 735-753.
    2. Li, Longxi & Yu, Shiwei & Mu, Hailin & Li, Huanan, 2018. "Optimization and evaluation of CCHP systems considering incentive policies under different operation strategies," Energy, Elsevier, vol. 162(C), pages 825-840.
    3. Guozheng Li & Rui Wang & Tao Zhang & Mengjun Ming, 2018. "Multi-Objective Optimal Design of Renewable Energy Integrated CCHP System Using PICEA-g," Energies, MDPI, vol. 11(4), pages 1-26, March.
    4. Kang, Ligai & Wu, Xiaojing & Yuan, Xiaoxue & Ma, Kunru & Wang, Yongzhen & Zhao, Jun & An, Qingsong, 2021. "Influence analysis of energy policies on comprehensive performance of CCHP system in different buildings," Energy, Elsevier, vol. 233(C).
    5. Zhang, Chong & Xue, Xue & Du, Qianzhou & Luo, Yimo & Gang, Wenjie, 2019. "Study on the performance of distributed energy systems based on historical loads considering parameter uncertainties for decision making," Energy, Elsevier, vol. 176(C), pages 778-791.
    6. Yang, Yiping & Huang, Yulei & Jiang, Peixue & Zhu, Yinhai, 2020. "Multi-objective optimization of combined cooling, heating, and power systems with supercritical CO2 recompression Brayton cycle," Applied Energy, Elsevier, vol. 271(C).
    7. Kang, Ligai & Yuan, Xiaoxue & Sun, Kangjie & Zhang, Xu & Zhao, Jun & Deng, Shuai & Liu, Wei & Wang, Yongzhen, 2022. "Feed-forward active operation optimization for CCHP system considering thermal load forecasting," Energy, Elsevier, vol. 254(PB).
    8. Pina, Eduardo A. & Lozano, Miguel A. & Serra, Luis M., 2021. "Assessing the influence of legal constraints on the integration of renewable energy technologies in polygeneration systems for buildings," Renewable and Sustainable Energy Reviews, Elsevier, vol. 149(C).
    9. Chen, Ke & Pan, Ming, 2021. "Operation optimization of combined cooling, heating, and power superstructure system for satisfying demand fluctuation," Energy, Elsevier, vol. 237(C).
    10. Lu, Shuai & Gu, Wei & Zhou, Jinhui & Zhang, Xuesong & Wu, Chenyu, 2018. "Coordinated dispatch of multi-energy system with district heating network: Modeling and solution strategy," Energy, Elsevier, vol. 152(C), pages 358-370.
    11. Han, Jie & Ouyang, Leixin & Xu, Yuzhen & Zeng, Rong & Kang, Shushuo & Zhang, Guoqiang, 2016. "Current status of distributed energy system in China," Renewable and Sustainable Energy Reviews, Elsevier, vol. 55(C), pages 288-297.
    12. Zhao, Xin & Zheng, Wenyu & Hou, Zhihua & Chen, Heng & Xu, Gang & Liu, Wenyi & Chen, Honggang, 2022. "Economic dispatch of multi-energy system considering seasonal variation based on hybrid operation strategy," Energy, Elsevier, vol. 238(PA).
    13. Das, Barun K. & Al-Abdeli, Yasir M. & Kothapalli, Ganesh, 2021. "Integrating renewables into stand-alone hybrid systems meeting electric, heating, and cooling loads: A case study," Renewable Energy, Elsevier, vol. 180(C), pages 1222-1236.
    14. Jradi, M. & Riffat, S., 2014. "Tri-generation systems: Energy policies, prime movers, cooling technologies, configurations and operation strategies," Renewable and Sustainable Energy Reviews, Elsevier, vol. 32(C), pages 396-415.
    15. Wei, Dajun & Chen, Alian & Sun, Bo & Zhang, Chenghui, 2016. "Multi-objective optimal operation and energy coupling analysis of combined cooling and heating system," Energy, Elsevier, vol. 98(C), pages 296-307.
    16. Li, Fan & Sun, Bo & Zhang, Chenghui & Zhang, Lizhi, 2018. "Operation optimization for combined cooling, heating, and power system with condensation heat recovery," Applied Energy, Elsevier, vol. 230(C), pages 305-316.
    17. Yunshou Mao & Jiekang Wu & Wenjie Zhang, 2020. "An Effective Operation Strategy for CCHP System Integrated with Photovoltaic/Thermal Panels and Thermal Energy Storage," Energies, MDPI, vol. 13(23), pages 1-20, December.
    18. Zhao, Xinyu & Yang, Sheng & Liu, Zhanjun & Wang, Deqiang & Du, Zengzhi & Ren, Jingzheng, 2024. "Optimization and exergoeconomic analysis of a solar-powered ORC-VCR-CCHP system based on a ternary refrigerant selection model," Energy, Elsevier, vol. 290(C).
    19. Pina, Eduardo A. & Lozano, Miguel A. & Ramos, José C. & Serra, Luis M., 2020. "Tackling thermal integration in the synthesis of polygeneration systems for buildings," Applied Energy, Elsevier, vol. 269(C).
    20. Ren, Fukang & Wei, Ziqing & Zhai, Xiaoqiang, 2022. "A review on the integration and optimization of distributed energy systems," Renewable and Sustainable Energy Reviews, Elsevier, vol. 162(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jeners:v:13:y:2020:i:16:p:4252-:d:400039. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.