Keywords: exergy analysis, exergoeconomics, environmental impact, cost effectiveness, iterative optimisation, exergy destruction, energy conversion, investment costs, exergoenvironmental analysis
Recent developments in exergy analysis and exergoeconomics
In advanced exergy analysis, the exergy destruction within a component of an energy conversion system can be split into avoidable/unavoidable exergy destruction and endogenous/exogenous exergy destruction. A combination of these two concepts provides accurate information with respect to improving the overall system efficiency. Extended to exergoeconomics, the approach provides the costs associated with the avoidable endogenous and the avoidable exogenous exergy destruction and compares these costs with the respective investment costs. An exergoenvironmental analysis reveals the extent to which each component of a system is responsible for the overall environmental impact and identifies the real sources of the impact.