A new thermoeconomic methodology for energy systems

Thermoeconomics, or exergoeconomics, can be classified into the three fields: cost allocation, cost optimization, and cost analysis. In this study, a new thermoeconomic methodology for energy systems is proposed in the three fields. The proposed methodology is very simple and clear. That is, the number of the proposed equation is only one in each field, and it is developed with a wonergy newly introduced in this paper. The wonergy is defined as an energy that can equally evaluate the worth of each product. Any energy, including enthalpy or exergy, can be applied to the wonergy and be evaluated by this equation. In order to confirm its validity, the CGAM problem and various cogenerations were analyzed. Seven sorts of energy, including enthalpy and exergy, were applied for cost allocation. Enthalpy, exergy, and profit were applied for cost optimization. Enthalpy and exergy were applied for cost analysis. Exergy is generally recognized as the most reasonable criterion in exergoeconomics. By the proposed methodology, however, exergy is the most reasonable in cost allocation and cost analysis, and all of exergy, enthalpy, and profit are reasonable in cost optimization. Therefore, we conclude that various forms of wonergy should be applied to the analysis of thermoeconomics. (C) 2009 Elsevier Ltd. All rights reserved.