Browse > Article
http://dx.doi.org/10.14248/JKOSSE.2018.14.1.001

Design of Economic Analysis Module for Waste Heat Recovery based on Systems Engineering Approach  

Kim, Joon Young (Plant Systems Engineering Team, Institute for Advanced Engineering (IAE))
Cha, Jae Min (Plant Systems Engineering Team, Institute for Advanced Engineering (IAE))
Park, Sung Ho (Plant Systems Engineering Team, Institute for Advanced Engineering (IAE))
Shin, Jung Uk (Plant Systems Engineering Team, Institute for Advanced Engineering (IAE))
Lee, Tae Kyong (Plant Systems Engineering Team, Institute for Advanced Engineering (IAE))
Publication Information
Journal of the Korean Society of Systems Engineering / v.14, no.1, 2018 , pp. 1-12 More about this Journal
Abstract
In the energy-guzzling industries such as steel making and cement, power plants utilizing waste heat have been attracting attention to increase energy efficiency. However, the existing economic analysis system doesn't consider the special working fluids and the cost models of the main equipment used in the waste heat recovery power plant. So it is difficult to estimate the plant economics accurately. Therefore, It is required to develop a economic analysis module that can more accurately evaluate for the power plant. In this study, the systems engineering approach was used to design and develop the module that systematically reflects the characteristics of the power plant and various requirements. Specifically, first, the special working fluids and main equipment applied to the power plant were investigated. Next, the cost models for each equipment were developed. Finally, the economic analysis module based on this was developed.
Keywords
Waste Heat Recovery; Economic Analysis; Systems Engineering;
Citations & Related Records
Times Cited By KSCI : 1  (Citation Analysis)
연도 인용수 순위
1 AACE International, Cost Estimate Classification System - As Applied in Engineering, Procurement, and Construction for the Process Industries, AACE International Recommended Practice No. 18R-97, 2011.
2 Baek, Y. J., Study on the power optimization of transcritical and subcritical rankine power cycles for a low-grade heat source, Doctoral Dissertation, KAIST, 2011.
3 Bejan, A., Tsatsaronis, G., Moran, M., Thermal Design & Optimization, John Wiley & Sons, Inc., Canada, 1996.
4 Couper, J. R., Process Engineering Economics, Marcel Dekker, 2003.
5 Incropera, F.P. and DeWitt, D. P. Bergman,, T., and Lavine, A. S., Fundamentals of Heat and Mass Transfer 6th Edition, Wiley, 2010.
6 Korea Institute of Energy Research (KIER) Technology Transfer and Commercialization Division, Heat Recovery Technology, Energy Saving Technology Trend, 30, KIER, 2003.
7 Kim, J. G., A Study on Analysis Methods for Feasibility Study of Demonstration Plant Establishment Projects: Final Report, Korea Institute of Science and Technology Evaluation and Planning (KISTEP), 2014.
8 Kim, J-Y., Hong, D. G., Suh, S.-H., and Sur, H. W., A Systems Engineering Approach to the Design of Steam Reforming H2 Generation System based on Natural Gas: Case of Iron and Steel making Plant, Journal of the Korean Society of Systems Engineering, 11(1), 81-93, 2015.   DOI
9 Lee, Y. S. and Lee, G. Introduction to KIER Thermal Energy Network and Research Activities, Journal of the KSME, 56(8), 32-36, 2016.
10 Loh, H. P., Process Equipment Cost Estimation Final Report, DOE/NETL-2002/1169, U.S. DOE Department of Energy/National Energy Technology Laboratory, 2002.
11 Short, W. Packey, D. J., and Holt, T., A Manual for The Economic Evaluation of Energy Efficiency and Renewable Energy Technologies, NREL/TP-162-5173, National Re-newable Energy Laboratory (NREL) 47-50, 1995.
12 Yang, Michael, 2015 Market Research Report on Waste Heat Recovery System Industry, 9 Dimen Research Waste Heat Recovery System Research Center, 2015.
13 Yang, N. S., Status and Prospects of Industrial Waste Heat Usage, Energy Management, Korea Energy Agency, 50-56, 2001.
14 Black, J. B., Cost and Performance Baseline for Fossil Energy Plants, Volume 3c: Natural Gas Combined Cycle at Elevation, DOE/NETL-2010/1396, 2011.