A critical review on energy, exergy, exergoeconomic and economic (4-E) analysis of thermal power plants

The growing energy supply, demand has created an interest towards the plant equipment efficiency and the optimization of existing thermal power plants. Also, a thermal power plant dependency on fossil fuel makes it a little bit difficult, because of environmental impacts has been always taken into consideration. At present, most of the power plants are going to be designed by the energetic performance criterion which is based on the first law of thermodynamics. Sometimes, the system energy balance is not sufficient for the possible finding of the system imperfections. Energy losses taking place in a system can be easily determined by using exergy analysis. Hence, it is a powerful tool for the measurement of energy quality, thereby helps to make complex thermodynamic systems more efficient. Nowadays, economic optimization of plant is also a big problem for researchers because of the complex nature. At a viewpoint of this, a comprehensive literature review over the years of energy, exergy, exergoeconomic and economic (4-E) analysis and their applications in thermal power plants stimulated by coal, gas, combined cycle and cogeneration system have been done thoroughly. This paper is addressed to those researchers who are doing their research work on 4-E analysis in various thermal power plants. If anyone extracts an idea for the development of the concept of 4-E analysis using this article, we will achieve our goal. This review also indicates the scope of future research in thermal power plants.