Economic Assessment of Micro-CHP System for Residential Application in Shanghai, China. (June 2016)

• Record Type: Journal Article
• Authors: Wu, Qiong; Ren, Hongbo; Gao, Weijun
• Is Part Of: Energy procedia. Volume 88(2016)
• Page Start: 732
• Page End: 737
• Publication Date: 2016-06
• Subjects: micro-CHP -- economic performances -- optimization model -- sensitivity analysis -- China; Power resources -- Congresses; Power resources -- Periodicals; Power resources; Conference proceedings; Periodicals; 333.7905
• DOI: 10.1016/j.egypro.2016.06.054
• Languages: English
• ISSNs: 1876-6102

Abstract

Abstract: The aim of this study is to investigate the economic performances of the micro combined heat and power (micro-CHP) systems for residential application. An optimization model of the micro-CHP units coupled with thermal storage tanks and auxiliary boilers has been developed minimizing the annualized investment cost and operation cost. In addition, sensitivity analysis of some economic and policy conditions on the micro-CHP systems have been implemented. The results indicate that it is not feasible to introduce the micro-CHP systems in China from the economic viewpoint currently only if the suggested three promotion measures are implemented simultaneously.