1MW electricity generation from waste heat port of Rotterdam

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1MW electricity generation from waste heat port of Rotterdam ( 1mw-electricity-generation-from-waste-heat-port-rotterdam )

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Analysis of possibilities for 1MW electricity generation from waste heat in the port of Rotterdam Page 27 The downside of this ratio is that it compares energies of different quality: electric energy is first-grade energy while heat is second-grade energy. Plus, there is no way of knowing how useful is the available heat. This is why we will also use a second efficiency ratio. 2) Second law efficiency The second law efficiency is also called exergetic efficiency because it compares the useful exergy with the gross exergy input (Eq. 2.2) (Eq. 2.2) We should remember that the value of the exergy of electric power is equal to the value of the electric power because electricity is the highest quality of power. And when calculating the exergy of the hot source, we will be taking into account the temperature of the hot source in relation to the temperature of the environment. 3) IRR, NPV and payback We will also look into the financial aspects because this is an investment: Internal Rate of Return (IRR), Net Present Value (NPV) and the payback time. The criteria used to evaluate the profitability are: positive NPV, an IRR higher than the interest rate and the lowest payback time. 4) Safety of working fluids There are several aspects to take into account regarding safety: flammability, toxicity (for humans and for the environment), explosiveness, etc. In the end it is difficult to say whether one fluid is safer than another so we will just characterize them. The summary of the above-mentioned criteria can be found in Table 2.4: Criteria Target First law efficiency (ηI) Second law efficiency (ηII) NPV IRR As high as possible As high as possible Positive Higher than the interest rate As low as possible Payback WF safety As safe as possible Table 2.4 – Summary of evaluation criteria

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