Comparison between the Distributed Entropy Method and Average Cost ‎Theory Method in Exergoeconomic Analysis of Energy Systems

Abstract

<span style="font-family: 'Times New Roman','serif'; font-size: 10pt; mso-bidi-language: AR-SA; mso-fareast-font-family: BatangChe; mso-ansi-language: EN-US; mso-fareast-language: KO; mso-font-kerning: 1.0pt;">Residues are disposal remaining flows of matter or energy that are produced by energy systems. Residues cost allocation is a complex problem. One of the most important criteria for residues cost allocation is distributed entropy method. In this method, the fuel-product (FP) table (a mathematical representation of the thermoeconomic model) is used as input data. Average cost theory (ACT) method is one of the most important conventional exergoeconomic methods that can be applied to energy systems. In this paper, distributed entropy method and ACT method are applied to a combined cycle and a cogeneration system. Fuel and product costs for each component are obtained and compared with each other. Specific cost of product for each component is calculated, too.</span>