Exergoeconomic performance optimisation for an endoreversible simple gas turbine cycle cogeneration plant

The exergoeconomic performance of an endoreversible simple gas turbine cycle cogeneration plant coupled to constant temperature heat reservoirs is investigated using finite time thermodynamics. The analytical formulae for profit rate and exergy efficiency of the cogeneration plant are deduced. By means of numerical calculations, the heat conductance allocation and pressure ratio are optimised by taking the maximum profit rate as the objective. The characteristic of optimal dimensionless profit rate versus exergy efficiency is investigated and the effects of design parameters on optimal performance of the cogeneration plant are also analysed. The results show that there exist a sole group of optimal heat conductance allocations among hot-, cold- and consumer-side heat exchangers and an optimal pressure ratio which lead to the maximum dimensionless profit rate, and there exists an optimal consumer-side temperature which leads to a double-maximum dimensionless profit rate.