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Energies 2020, 13, 6446 11 of 26 All the correlations shown in Table 5 are for the base year 2001, and hence, we need to update the economic cost by taking the inflation into account for the year of investment, which is 2017 in this study. The CEPCI (Chemical Engineering Plant Cost Index) [4] is responsible for updating the cost index yearly. The CEPCI is an important tool for chemical-process-industry (CPI) professionals when adjusting process plant costs from one period to another. Based on the cost indexes for two different years, the bare module cost for the year 2017 is estimated as follows: CEPCI2017 CBM,2017 = CBM,2001 × CEPCI2001 where CBM, 2017 and CBM, 2001 are the bare module cost for the year 2017 and 2001, respectively. CEPCI2017 and CEPCI2001 are the cost index in 2017 and 2001 which are 567.5 and 397, respectively. Total capital investment costs (CCI ) for investigated heat recovery options are calculated as follows: Air preheater with one oven (AP1): CCI,AP1 = CHE,BM, 2017 Air preheater with five ovens (AP5): CCI,AP5 = CHE,BM, 2017 CCI,AP5 = CHE,BM, 2017 CCI,APHW = CHE, BM, 2017 + CP, BM, 2017 Organic Rankine Cycle (ORC): CCI,ORC = CHE, BM, 2017 + CP, BM, 2017 + CT, BM, 2017 Vapour absorption refrigeration cycle (VARC): CCI,VARC = CHE, BM, 2017 + CP, BM, 2017 + CVe, BM, 2017 where CHE, BM, 2017, CP, BM, 2017, CT, BM, 2017 and CVe, BM, 2017 are the bare module cost for heat exchangers, pumps, turbines and process vessels in the year 2017, respectively. Total investment cost (Cn) for different waste heat recovery options is the summation of capital cost and operation and maintenance cost: Cn = CCI,n +CfOM ×CCI,n where CfOM. is the operation and maintenance cost factor, which was assumed to be 1.5% of the total investment cost [62], n is the different waste heat recovery options. The payback period is calculated by dividing the total cost by the fuel saving or cost avoided, CSn, with a different option for one year as follows: PBn = Cn CSn Water preheater (HW): Air preheater + hot water (APHW):PDF Image | Waste Heat Recovery Technologies for the Food Processing Industry
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