Meysam Amini - Research Institute of Petroleum Industry (RIPI), Tehran, Iran
Mohammad R Habibi - Research Institute of Petroleum Industry (RIPI), Tehran, Iran
Porya Raissi - Research Institute of Petroleum Industry (RIPI), Tehran, Iran,
Esmaeil Ghasemi - Research Institute of Petroleum Industry (RIPI), Tehran, Iran

In the present study, the importance of exergoeconomic analysis in a steam thermal power plant has been investigated. Exergoeconomics are methodologies which combine economic and thermodynamic analysis by conducting the cost concept to exergy which accounts for the quality of energy. The major concept of exergoeconomics is the exergetic cost and it deals with cost accounting methods. This paper is a review on the exergoeconomic analysis of thermal plants, and also commercial energy systems in industry. An application of relevant formulation is given using a practical test case in one of the Iran’s power plants (120 MW nonreheat cycle) as an example. Main exergoeconomic methodologies in recentresearches are described and their advantages and disadvantages have been compared. Important studies on exergoeconomic analysis and optimization of steam power plant mentioned based on the methodology used and the type of system considered. Results of the presented analysis show the difference in thermodynamic and economic operational parameters of the plant for the cases with and without the efficiency measures. The results show that, like the exergy analysis, boiler possesses the highest exergy destruction cost.

Exergoeconomics, Exergy analysis, Power plant, Energy efficiency