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From Tables 7.5 and 7.6, it is seen that there is no fluid for which the minimum SIC and maximum net power coincide. For all fluids, increasing the evaporating pressure by about 3.5 bar from the point of maximum power, results in a loss in power and gain in specific cost reduction. The extent in the SIC reduction depends on the fluid. The economic optimization offers different results for different fluids. The SIC reduction is about 5.12% for n-Butane, 7.23% for R245fa, 11.70% for R123, 18.53% for n-Pentane and 20.25% for R113. Globally, power loss of 200-400 W generates cost reduction from 1500 up to 4500 €. Translating the reduction in SIC into net power output and TIC reduction; 18.33% reduction in power leads to 34.85% of gain in TIC for R113. Table 7.5 shows that the optimum pinch point values for both the evaporator and the condenser are comprised between 10 and 20 K, which could therefore be considered as reference values regarding the economical optimum for this kind of application. 7.8 Conclusion In this chapter, small ORCs in waste heat recovery application already proven from technical point of view have been evaluated from an economic viewpoint. The study shows that the Organic Rankine Cycle is a promising technology for small-scale waste heat recovery applications. The minimum cost at which electricity should be sold is about 13.27 c€/kWh for very small systems. This value could be significantly low, below 5 c€/kWh for medium and large size systems. Given the advantages of recycling the waste heat energy, in comparison with renewable energy technologies, it is believed there is good prospect for ORC-WHR systems. In the transition to the renewable energy era, efficiency through waste heat recovery has a role to play. ORC in waste heat recovery application better needs to be cost-effective than efficient. With a pre-design thermo-economic model the mismatch between the optimal technical point and the minimum specific cost was demonstrated. This mismatch is due to very different thermodynamic properties such as liquid/gas densities, which significantly influence system performance and components sizes. Seeking for profitable environmental solutions; economic optimization instead of thermodynamic optimization or a compromise is advisable. Page | 185PDF Image | Low-Grade Heat Conversion into Power Using Small Scale Organic Rankine Cycles
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