Benefit Analysis of Emergency Standby System Promoted to Cogeneration System

Authors

  • Shyi-Wen Wang Department of Electrical Engineering, Chienkuo Technology University, Changhua, Taiwan

Keywords:

emergency standby system, cogeneration system, time-of-use rate structure, mixed-integer programming, nonlinear optimization

Abstract

Benefit analysis of emergency standby system combined with absorption chiller promoted to cogeneration system is introduced. Economic evaluations of such upgraded projects play a major part in the decisions made by investors. Time-of-use rate structure, fuel cost and system constraints are taken into account in the evaluation. Therefore, the problem is formulated as a mixed-integer programming problem. Using two-stage methodology and modified mixed-integer programming technique, a novel algorithm is developed and introduced here to solve the nonlinear optimization problem. The net present value (NPV) method is used to evaluate the annual benefits and years of payback for the cogeneration system. The results indicate that upgrading standby generators to cogeneration systems is profitable and should be encouraged, especially for those utilities with insufficient spinning reserves, and moreover, for those having difficulty constructing new power plants.

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Published

2016-07-01

How to Cite

[1]
S.-W. Wang, “Benefit Analysis of Emergency Standby System Promoted to Cogeneration System”, Adv. technol. innov., vol. 1, no. 1, pp. 7–12, Jul. 2016.

Issue

Vol. 1 No. 1 (2016): July

Section

Articles

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