Thermoeconomic analysis of shrouded wind turbines

•The wind turbine performance improved as the shroud area ratio increased.•The cost of the power produced became low for the case of high area ratio (1.5) and vice-versa (1.1).•The cost rate of exergy loss was the lowest for the highest area ratio value considered (1.9–0.9 $/kW h).•The exergetic improvement potential increased as the shroud area ratio increased.

In this study, thermoeconomic analysis of shrouded wind turbines is conduced incorporating different area ratios of the shroud. Key thermoeconomic parameters are examined which include, cost of the power produced, cost of the exergy lost, exergy efficiency, exergetic improvement potential, air mass flow rate through the wind turbine, and power produced. It was concluded that the wind turbine performance improved as the shroud area ratio increased. Consequently, the cost of the power produced became low for the case of high area ratio and vice-versa. It was demonstrated that the cost was significantly high under low wind speed. The same finding was observed for the cost rate of the exergy loss in which the cost was the lowest for the highest area ratio value considered in the present study. The findings also showed that the exergetic improvement potential increased as the wind speed increased and exergetic improvement potential enhanced further at high shroud area ratio.