Comparison between thermoelectric generator and organic Rankine cycle for low to medium temperature heat source: A Techno-economic analysis

With the fast development of thermoelectric materials, the thermoelectric generator is on the edge of broader commercial application. The objective of this work is to investigate the tech-economic feasibility of the thermoelectric generator (TEG) for power generation from low to medium temperature heat sources in contrast to organic Rankine cycle (ORC). Off-the-shelf TEG and ORC products' specification are reviewed and two typical models are chosen for analysis. In the techno-economic analysis, technical constraints such as output power and efficiency; the economic metrics, such as net present value, internal rate of return and payback period are considered as evaluation indicators. The comparison results in this study can provide insights of today and outlook of the future for the waste heat recovery and geothermal industry.

Automated summary

With the rapid development of thermoelectric materials, the thermoelectric generator (TEG) is on the verge of wider commercial application. This study compares the techno-economic feasibility of TEG and organic Rankine cycle (ORC) for power generation from low to medium temperature heat sources. Technical constraints such as output power and efficiency, as well as economic metrics including net present value, internal rate of return, and payback period, are considered as evaluation indicators. The comparison results provide insights into the current and future prospects of waste heat recovery and geothermal industry.