Exergoeconomic analysis of high concentration photovoltaic thermal co-generation system for space cooling

The valuation method presented here for the HCPVT multi-energy carrier plant comprises both the technical and economic perspectives. The proposed model determines how the cost structure is evolving in four different scenarios by quantifying the potential thermal energy demand in Hammam Bou Hadjar. The model pins down the influence of technical details such as the exergetic efficiency to the economic value of the otherwise wasted heat. The thermal energy reuse boosts the power station׳s overall yield, reduces total average costs and optimizes power supply as fixed capital is deployed more efficiently. It is observed that even though potential cooling demand can be substantial (19,490 MWh per household), prices for cooling should be 3 times lower than those of electricity in Algeria (18 USD/MWh) to be competitive. This implies a need to reach economies of scale in the production of individual key components of the HCPVT system. The net present value (NPV) is calculated taking growth rates and the system׳s modular efficiencies into account, discounted over 25 years. Scenario 1 shows that even though Algeria currently has no market for thermal energy, a break-even quantity (49,728 MWh) can be deduced by taking into account the relation between fixed costs and the marginal profit. Scenario 2 focuses on the national growth rate needed to break even, i.e. +10.92%. Scenario 3 illustrates thermal price variations given an increase in the Coefficient of Performance (COP) of a thermally driven adsorption chiller after year 10. In this case, the price for cooling will decrease from 18 USD/MWh to 14 USD/MWh. Finally, scenario 4 depicts Hammam Bou Hadjar׳s potential cooling demand per household and the growth rate needed to break even if a market for heat would exist.