Exergoeconomic multi objective optimization and sensitivity analysis of a regenerative Brayton cycle

In this study, the optimal performance of a regenerative Brayton cycle is sought through power maximization and then exergoeconomic optimization using finite-time thermodynamic concept and finite size components. Optimizations are performed using genetic algorithm. In order to take into account the finite-time and finite-size concepts in current problem, a dimensionless mass-flow parameter is used deploying time variations. The decision variables for the optimum state (of multi objective exergoeconomic optimization) are compared to the maximum power state. One can see that the multi objective exergoeconomic optimization results in a better performance than that obtained with the maximum power state. The results demonstrate that system performance at optimum point of multi objective optimization yields 71% of the maximum power, but only with exergy destruction as 24% of the amount that is produced at the maximum power state and 67% lower total cost rate than that of the maximum power state. In order to assess the impact of the variation of the decision variables on the objective functions, sensitivity analysis is conducted. Finally, the cycle performance curve drawing according to exergoeconomic multi objective optimization results and its utilization, are suggested. (c) 2016 Elsevier Ltd. All rights reserved.