Process / pipelineEconomic Analysis
Exergoeconomic Analysis
Exergoeconomic analysis combines thermodynamics and economics by assigning monetary costs to exergy streams. It reveals how thermodynamic irreversibilities translate into economic losses within industrial systems. This approach enables engineers to identify the most economically significant inefficiencies and make informed decisions about component improvements and system optimization.
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Sources
- Tsatsaronis, G. (1993). Thermoeconomic analysis and optimization of energy conversion processes. Progress in Energy and Combustion Science, 19(4), 323-356. DOI: 10.1016/0360-1285(93)90016-8 ↗
- Lozano, M. A., & Valero, A. (1994). Theory of exergetic cost. Energy Policy, 21(12), 1109-1140. DOI: 10.1016/0301-4215(93)90084-J ↗