Thermodynamic and economic analysis of performance evaluation of all the thermal power plants: A review

Surging in energy demand makes it necessary to improve performance of plant equipment and optimize operation of thermal power plants. Inasmuch as thermal power plants depend on fossil fuels, their optimization can be challenging due to the environmental issues which must be considered. Nowadays, the vast majority of power plants are designed based on energetic performance obtained from first law of thermodynamic. In some cases, energy balance of a system is not appropriate tool to diagnose malfunctions of the system. Exergy analysis is a powerful method for determining the losses existing in a system. Since exergy analysis can evaluate quality of the energy, it enables designers to make intricate thermodynamic systems operates more efficiently. These days, power plant optimization based on economic criteria is a critical problem because of their complex structure. In this study, a comprehensive analysis including energy, exergy, economic (3-E) analyses, and their applications related to various thermal power plants are reviewed and scrutinized.