4E analysis and optimization of novel ejector-enhanced organic Rankine cycles by introducing new economic models

Abstract

The need for organic Rankine cycle modification by various means can be realized for low-medium grade heat recovery. Hence, two new ejector-enhanced organic Rankine cycles (EEORC-1 and EEORC-2) are presented in this study. Three new economic models (M1, M2 and M3) are chosen to study the feasibility in the real world and ensure market entry of the technology for commercialization, leading to mutual benefit to both industries and consumers. Energy, exergy, economic and environmental performances are evaluated for various working fluids and waste heat inlet temperatures by optimizing cycle parameters to maximize net work output. Economic simulation is performed to judge the best model suitable for the minimum possible selling price along with the maximum possible profit to the industry. Results show that EEORC-1 with R123 performs best and renders a maximum 18% increment in net work output at 70 °C heat source temperature. The basic cycle has maximum thermal and exergy efficiencies of 3.8% and 40.0%, respectively at 70 °C heat source temperature. M2 model is suitable for consumers as well as government and private-owned power plants. The proposed M2 economic model gives a maximum of 7.32% increment in profit by EEORC-1. Extra profit can be generated by earning more carbon credit. © 2023 Elsevier Ltd