Thermoeconomic Analysis with Regression Modelling and Optimization of Steam Coal Power Plant

In this study, exergy and economic analyses with regression of a 50MWunit of Lakhra steam power plant, situated near Jamshoro Pakistan is presented. Firstly, a thermodynamic model is developed using Engineering Equation Solver (EES) software and validated, followed by an economic assessment parametric analysis to show the impacts of various operating parameters on the levelized cost and finally regression along with optimization is carried out. The condenser pressure, main steam pressure, temperature and interest rate are selected as operating parameters while levelized cost, net power output, energy and exergy efficiencies are selected as performance parameters. Furthermore, in order to know about the effects of predictor and response variables with each other and to correlate the performance parameters with the operating parameters the multiple polynomial regression analysis has been prepared.  In economic analysis, levelized cost of electricity is estimated under various operating and economic conditions. Under designed parameters, the plant is simulated yielding 53.5 MW power output with 31.02% and 26.24% energy and exergy efficiencies, respectively with levelized cost of US$0.0654/kWh. According to the optimization results, maximum power, energy and exergy efficiencies are obtained as 53.786 MW, 31.25% and 26.43%, respectively, whereas minimum levelized cost is obtained as US$0.04856/kWh under given optimal conditions.