• Proceedings of the KSME Conference
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• 2000.11b
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• pp.222-227
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• 2000

At representative thermoeconomic theory to determine the unit cost of multiple products, there are the $\ulcorner$SPECO$\lrcorner$ method of Tsatsaronis's study group and the $\ulcorner$MOPSA$\lrcorner$ method of chung-ang university phase laboratory. Against this theory, we propose new theory called $\ulcorner$Thermoeconomics to divide the exergetic cost into each working fluid$\lrcorner$ in this study. Also, we apply new thermoeconomic theory to CGAM problem (30MW-grade imaginary gas turbine cogeneration power plant) that it is representative power system in thermoeconomics theory, and we fixed to interpreted the unit cost of electricity on the part of gas turbine and the unit cost of steam exergy(enthalpy) on the part of HRSG.

• Proceedings of the KSME Conference
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• 2000.04b
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• pp.962-969
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• 2000

Quality that character of energy is the same at every state in case of equal working fluid and net concept of material flow was applied to thermoeconomics about energy system, and we could naturally explain the suitable degree about this concept, also thermoecomic equations about general power plant was easily deduced. And deduced equations exactly corresponded with principle of thermoeconomics that overall input cost flow rate equal overall output cost flow rate. This equations is applied to gas turbine cogeneration power plant as one example and found the product unit cost. Also this product cost comparison could been naturally explained.

• Plant Journal
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• v.12 no.2
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• pp.36-40
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• 2016

At the contract for power plant construction, the penalty appropriation on performance decrease is signed between ordering organization and construction firm. In this, the penalty cost signed must be reasonable value that both of ordering organization and construction firm can accept, therefore the methodology for penalty appropriation is very important. Cogeneration is a system that produces electricity and heat at the same time, therefore the penalty appropriation for cogeneration should be uncertain. Thermoeconomics analyzes various energy costs, however the relation of thermoeconomics and penalty cost may not be analyzed up to now. The aim of this study demonstrates that thermoeconomics can be applied to the penalty appropriation at the performance acceptance test. As the result of CGAM system, if the construction cost is $10,000,000, the value of $6,665,688 was appropriated to the electricity production performance and the value of $3,334,312 was appropriated to the heat production performance. Therefore if one percentage at the electricity production performance decreases, the penalty is $6,666, and one percentage at the heat production performance decrease, we can understand that the penalty is $3,334.

• Proceedings of the SAREK Conference
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• 2009.06a
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• pp.315-320
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• 2009

Thermoeconomics or exergoeconomics can be classified into the three fields of cost estimating, cost optimization, and internal cost analysis. The objective of cost estimating is to estimate each unit cost of product and allocate each cost flow of product such as electricity or hot water. The objective of optimization is to minimize the input costs of capital and energy resource or maximize the output costs of products under the given constraints. The objective of internal cost analysis is to find out the cost formation process and calculate the amount of cost flow at each state, each component, and overall system. In this study, a new thermoeconomic methodology was proposed in the three fields. The proposed methodology is very simple and obvious. That is, the equation is only each one, and there are no auxiliary equations. Any energy including enthalpy and exergy can be applied and evaluated by this equation. As a new field, the cost allocation methodology on cool air or hot air produced from an air-condition system was proposed. Extending this concept, the proposed methodology can be applied to any complex system.

• Journal of Energy Engineering
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• v.29 no.2
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• pp.40-60
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• 2020

When various kinds of products are produced from a single energy system, the methodology which allocates the common cost to each product cost is very important because it is directly related with the profit and loss of producer and purchaser. In the cost allocation methodology of electricity and heat for CHP, there are heat method, work method, benefit distribution method, exergy method, and so on. Benefit distribution method is the most widely known worldwide, and exergy method is widely recognized among thermal engineers. As a result of review, it is judged that the rationality of benefit distribution method is low because the result deviates from common sense, and the rationality of exergy method is high because the result consistent with common sense. In accounting, it is calculated as merit methodology and the result is used for negotiations between producer and buyer, but In thermal engineering, the rationality of exergy methodology is described only as a thesis. The purpose of this study is to compare and examine the rationality of merit methodology and exergy methodology, and the aim is to describe in detail in order that producer and buyer can understand the rationality of each methodology.

• Transactions of the Korean Society of Mechanical Engineers B
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• v.27 no.1
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• pp.76-83
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• 2003

Exergetic and thermoeconomic analyses were performed fer a 137-MW steam power plant. In these analyses, mass and energy conservation laws were applied to each component of the system. Quantitative balance of the exergy and exergetic cost for each component, and for the whole system was carefully considered. The exergo-economic model, which represented the productive structure of the system was used to visualize the cost formation process and the productive interaction between components. The computer program developed in this study can determine production costs of power plants, such as gas-and steam-turbines plants and gas-turbine cogeneration plants. The program can also be used to study plant characteristics, namely, thermodynamic performance and sensitivity to changes in process and/or component design variables.

• Proceedings of the KSME Conference
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• 2000.04b
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• pp.871-878
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• 2000

Exergetic and thermoeconomic analysis were performed for a 500-MW combined cycle plant and a 137-MW steam power plant without decomposition of exergy stream of matter into thermal and mechanical exergies. The calculated costs of electricity are almost same within 0.5% as those obtained by the thermoeconomic method with decomposition of exergy into thermal and mechanical exergies of the combined cycle plant. However for the gas-turbine cogeneration plant having different kinds of products. the difference in the unit costs of products, obtained from the two methodologies is about 2%. Such outcome indicates that the level at which the cost balances are formulated does not affect the result of thermoeconomic analysis, that is somewhat contradictory to that concluded previously.

• Plant Journal
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• v.12 no.4
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• pp.32-36
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• 2016

In this study, a penalty cost appropriation methodology for CGAM performance acceptance test was suggested. As the result of CGAM performance test, there were 0.31% decreases in electricity output, 0.39% decreases in heat rate on electricity output, 0.31% increases in heat output, and 0.23% increases in heat rate on heat output. As the result of penalty cost appropriation for above performance, the penalty cost was calculated as -$20,837 in electricity output, -$25,930 in heat rate on electricity output, +$10,340 in heat output, and +$7,715 in heat rate on heat output. Each penalty is appropriated as above fore kinds, however the total penalty should be determined as how to combine above fore kinds of penalty. In our calculation, the minimum total penalty was -$18,215 and the maximum total penalty was -$46,767. The methodology of total penalty appropriation should be determined in the contract between ordering organization and construction firm, and we can understand that it is very important.