Techno-Economic Analysis of Organic Rankine Cycles for a Boiler Station : Energy system modeling and simulation optimization

Abstract: The Organic Rankine Cycle (ORC) may be the superior cycle for power generation using low temperature and low power heat sources due to the utilization of high molecular mass fluids with low boiling points. They are flexible, simple, easy to operate and maintain, and offer many possible areas of applications including waste heat recovery and power generation from biomass, geothermal and even solar energy. Therefore, they may prove to be of significant importance in reducing global greenhouse gas emission and in the mitigation of climate change. In this thesis the technical feasibility and economic profitability of implementing an ORC in a district heating boiler station is investigated. A model of ORC connected to the hot water circuit of one of the biomass boilers of the boiler station is simulated. The achieved evaporation temperature is estimated to 135 degrees C and the condensation temperature is found to vary in the range of about 70-100 degrees C. The results show that it is both possible and profitable to implement an ORC in the studied boiler station. A maximum net present value of 2.3 MSEK is achieved for a 400 kW system and a maximum internal rate of return of 8.5%, equivalent to a payback period of 9.5 years, is achieved for a 300 kW system. Furthermore, the investment is found to be most sensitive to changes in the electricity price, net electric efficiency and capital expenditure cost.