Qian, Xiaoyan and Dai, Jie and Jiang, Weimin and Cai, Helen and Ye, Xixi and Vafadaran, Mohammad Shahab (2024) Economic viability and investment returns of innovative geothermal tri-generation systems: A comparative study. Renewable Energy, 226. p. 120396. ISSN 0960-1481, DOI https://doi.org/10.1016/j.renene.2024.120396.
Full text not available from this repository.Abstract
In a world grappling with escalating energy needs, environmental concerns, and economic constraints, the transition to renewable energy becomes critical. This study delves into geothermal energy, a promising renewable source, to develop four distinctive tri-generation systems (producing power, heat, and freshwater) optimized for economic efficiency and investment returns. The primary focus is on assessing these systems through an innovative lens of economic viability, including net present value (NPV) and payback periods, alongside their thermodynamic performance. Notably, System B emerges as the most economically advantageous, boasting the shortest payback period of 3.65 years and the highest NPV of $2.38 million, while System C trails with the lowest NPV of $0.32 million. Additionally, System D, identified as optimally complementary, undergoes comprehensive optimization using advanced algorithms and machine learning, achieving notable efficiencies and cost-effectiveness in power output, exergy, and freshwater production. This study not only underscores the potential of geothermal tri-generation systems in meeting energy, heat, and water needs but also highlights their significant economic benefits and investment attractiveness, offering a compelling case for their adoption in sustainable energy strategies.
| Item Type: | Article |
|---|---|
| Funders: | University Philosophy and Social Science Fund Project in Jiangsu Province (2022SJYB0563), University Philosophy and Social Science Major Fund Project in Jiangsu (2023SJZD061), Start-up Fund for Talented Researchers of Nanjing Vocational University of Industry Technology (2022SKYJ03), Research project of vocational education and teaching reform in Jiangsu Province (ZYB549), Natural Science Foundation of Zhejiang Province of China: Economic Consequences of Nonfinancial Information Disclosure and Its Supervision: From the Pivotal Function of Capital Market (LY20G030018) |
| Uncontrolled Keywords: | Geothermal; Techno-economic analysis; Humidification and dehumidification; Multi -criteria optimization; Machine learning |
| Subjects: | H Social Sciences > HB Economic Theory |
| Divisions: | Institute of Advanced Studies |
| Depositing User: | Ms. Juhaida Abd Rahim |
| Date Deposited: | 30 Sep 2024 07:25 |
| Last Modified: | 30 Sep 2024 07:25 |
| URI: | http://eprints.um.edu.my/id/eprint/45271 |
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