Sahu, M., Choudhary, T., and Sanjay, Y., "Thermoeconomic Investigation of Different Gas Turbine Cycle Configurations for Marine Application," SAE Technical Paper 2016-01-2228, 2016, doi:10.4271/2016-01-2228.
Global energy scenario requires thermal systems with higher efficiency and lower capital and operating cost. The paper deals with the thermoeconomic analysis of the gas turbine cycles with possible application as marine gas turbines. Thermoeconomic analysis of an energy conversion cycle is a combined study of thermodynamics and economics. Different configurations of gas turbine cycles have been analyzed using thermo-economic methodology keeping the gas turbine operating parameters (compressor pressure ratio, turbine inlet temperature, isentropic efficiencies of compressor & turbine etc fixed. Study has been carried out by considering appropriate objective function in a form of decision variables. This objective function combines both fuel cost and investment cost. Correlation functions having variables such as pressure ratio, isentropic efficiencies of compressor & turbine and turbine inlet temperature have been presented for obtaining capital cost for all equipments of the cycle. The results obtained shows the plant cost (including equipment purchase cost, fuel cost, maintenance and investment cost) for proposed configurations of gas turbine cycles which may be useful to designers. The total cost flow rate for basic gas turbine (BGT), intercooled gas turbine (IcGT) and recuperated gas turbine (RcGT) has been found to be 0.37646 $/s, 0.40791$/s and 0.3518 $/s respectively.