Thermo-economic analysis of a trigeneration HCPVT power plant

Abstract

The increasing need for electricity and heat in a growing global economy must be combined with CO2 emissions reduction, in order to limit the human influence on the environment. This calls for energy-efficient and cost-competitive renewable energy systems that are able to satisfy both pressing needs. A High-Concentration Photovoltaic Thermal (HCPVT) system is a cogeneration concept that shows promising potential in delivering electricity and heat in an efficient and cost-competitive manner. This study investigates the transient behavior of the HCPVT system and presents a thermo-economic analysis of a MW-scale trigeneration (electricity, heating and cooling) power plant. Transient simulations show a fast dynamic response of the system which results in short heat-up intervals, maximizing heat recuperation throughout the day. Despite suboptimal coupling between demand and supply, partial heat utilization throughout the year and low COP of commercially available devices for the conversion of heat into cooling, the thermo-economic analysis shows promising economic behavior, with a levelized cost of electricity close to current retail prices.