Thermo-economic optimization of synthesis, design and operation of a marine organic Rankine cycle system

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Thermo-economic optimization of synthesis, design and operation of a marine organic Rankine cycle system

Kalikatzarakis, Miltiadis

The recovery of high temperature thermal energy released by propulsion engines in order to cover thermal loads is commonplace in contemporary ships. However, the medium- and low-temperature thermal energy is only partially exploited or not exploited at all. In the present work, an organic Rankine cycle system driving an electric generator is considered, in addition to the exhaust gas boiler, in order to recover available heat and produce electrical energy. The specifications of the system are determined by an optimization procedure taking economic criteria into consideration, apart from the technical criteria usually used in this kind of studies. More specifically, with the net present value as the objective function and by application of optimization algorithms, the optimal synthesis, design and operation of the organic Rankine cycle system are determined. For the particular vessel considered, the installation of the organic Rankine cycle is technically feasible and economically profitable, with a dynamic payback period of 4 years. The solution of the optimization problem is supplemented with a sensitivity analysis with respect to important parameters.