Thermodynamic and Thermoeconomic Optimization of Combined Cycle Gas Turbine Power Plants for Enhanced Efficiency

In this research, we evaluate the use of CCGT power plants with reference to the improvement of the thermodynamic efficiency as well as the economic cost. The primary objective of the research is to undertake thermoeconomic analysis of CCGT systems to establish the ideal operating conditions for these systems, with the goal of obtaining a simultaneous increase in efficiency and reduction of costs. In this work, we employed both thermodynamic and thermoeconomic analysis, as well as optimization methods. In particular, GA was employed to acquire the multi-objective optimization of the TIT and the PR, as well as the cost of the system. The analysis suggests that TIT, PR, and HRSG have to be modified to boost the thermodynamics and minimize the LCOE. This was the most efficient scenario, with TIT growing by 4%, PR by 3%, and the efficiency of the HRSG by 2%, which delivered an overall efficiency of 8% and LCOE reduction of 4%. A sensitivity study found that TIT has the biggest influence on system performance and so has to be regulated precisely. The findings of the research have major implications for increasing the performance and cost effectiveness of CCGT systems, which will be valuable for engineers and policymakers in the energy sector.