Economic feasibility of combined cooling, heating and power systems

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Abstract

Combined cooling heating, and power (CCHP) systems can provide significant economic value due to the simultaneous energy production of a single The objective of this investigation is to examine the economic feasibility of CCHP systems of differently sized for a large office building in three locations: San Francisco, CA, Boston, MA, and Miami, FL. The economic value is evaluated with respect to annual operation costs and simple payback periods compared to a conventional, separate heat and power system wherein electricity is supplied by a grid and heat is provided by a boiler. Regional utility rates are used to examine regional impacts on the CCHP economic viability. The results show that annual operation costs can be reduced by 0.11 — 0.42 million S/j for San Francisco and Boston whereas increase by 0.16 - 0.29 million f/j for Miami. A larger system can achieve greater cost savings, but an oversized system may lead to undesirable part load utilisation of system components. For San Francisco and Boston, the annual cost savings are mainly attributed to the reduction of the grid electricity use. As a result, simple payback years of 7.5 — 10 years are noted for San Fr and Boston. However, for Miami with relatively expensive natural gas and low grid electricity cost compared to Boston and San Francisco, the annual operation cost increases compared to the conventional system regardless of system sizes, indicating that CCHP systems may not be economically via.

Original languageEnglish (US)
Title of host publicationASHRAE Transactions - 2019 ASHRAE Winter Conference
PublisherASHRAE
Pages29-36
Number of pages8
ISBN (Electronic)9781947192256
StatePublished - 2019
Event2019 ASHRAE Winter Conference - Atlanta, United States
Duration: Jan 12 2019Jan 16 2019

Publication series

NameASHRAE Transactions
Volume125
ISSN (Print)0001-2505

Conference

Conference2019 ASHRAE Winter Conference
CountryUnited States
CityAtlanta
Period1/12/191/16/19

All Science Journal Classification (ASJC) codes

  • Building and Construction
  • Mechanical Engineering

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