Economic analysis of coal-based polygeneration system for methanol and power production

Polygeneration system for chemical and power co-production has been regarded as one of promising technologies to use fossil fuel more efficiently and cleanly. In this paper the thermodynamic and economic performances of three types of coal-based polygeneration system were investigated and the influence of energy saving of oxygenation systems on system economic performance was revealed. The primary cost saving ratio (PCS) is presented as a criterion, which represents the cost saving of polygeneration system compared with the single-product systems with the same products outputs, to evaluate economic advantages of polygeneration system. As a result, the system, adopting un-reacted syngas partly recycled to the methanol synthesis reactor and without the shift process, can get the optimal PCS of 11.8%, which results from the trade-off between the installed capital cost saving and the energy saving effects on the cost saving, and represents the optimal coupling relationship among chemical conversion, energy utilization and economic performance. And both of fuel price and the level of equipment capital cost affect on PCS faintly. This paper provides an evaluation method for polygeneration systems based on both technical and economic viewpoints.