The case study of binary power plant based on thermoeconomics in Sichuan, China

In China, renewable energy power plant will be built from the year 2016 to 2020, because of CO₂ emission assignment and energy company demand. A geothermal power plant will be designed in Sichuan province. The wet temperature 15 °C is selected for cooling temperature. Thermoeconomics of geothermal power system are analyzed using the engineering equation solver. The results show that the capacity of binary power system is 3506 kW and optimum vaporizing pressure is 28 bar, the thermal and exergy efficiency is 13% and 45%. The turbine shaft work of flash power system is 2301 kW and the parasitic load is 71 kW, the optimum flash pressures is 0.95 bar, the thermal and exergy efficiency is 7.9% and 34.7%. the total capital investment of binary system is about 9,767,000 US$, the average annual profit is 1,308,000 $/year; the average rate of return is 13.39%; the payback period is less than 6 years. Condenser destruction and loss exergy is more than other components in the power system. The geothermal power production cost is 0.04 US$/kWh in Sichuan province.