Techno-economic assessment of micro-CHP systems

Abstract

Developing efficient energy generation technologies has become essential due to scarcity and high prices of fossil fuels and environmental concerns. The purpose of the present study is to develop a conceptual model based on a cost-benefit analysis applied to a cogeneration system for a micro-scale application, considering the Portuguese framework. The economic viability assessment of a micro-CHP system is of utmost importance in the decision making process when considering a new investment. The micro-CHP systems offers some benefits that underlie their economic viability: the capacity of producing heat and power at consumption place; allows the reduction of transmission and distribution losses; maximizes the utilization of primary energy by reducing waste heat; and finally offers significant contribution to pollutant emissions reduction. The development of optimization models has proven to be a valuable tool for the design and techno-economic assessment of micro-CHP systems.