Economic Assessment of Cogeneration Systems in Operation

Aikaterini Papadimitriou, Vassilios Vassiliou, Kalliopi Tataraki, Eugenia Giannini and Zacharias Maroulis
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Aikaterini Papadimitriou: Laboratory of Process Analysis and Design, National Technical University of Athens, 15780 Athens, Greece
Vassilios Vassiliou: Attiki Natural Gas Distribution Company SA, 14123 Likovrisi, Greece
Kalliopi Tataraki: Laboratory of Process Analysis and Design, National Technical University of Athens, 15780 Athens, Greece
Eugenia Giannini: Laboratory of Process Analysis and Design, National Technical University of Athens, 15780 Athens, Greece
Zacharias Maroulis: Laboratory of Process Analysis and Design, National Technical University of Athens, 15780 Athens, Greece

Energies, 2020, vol. 13, issue 9, 1-15

Abstract: A systematic method to evaluate the economic operating performance of existing combined heat and power (CHP) or combined cooling heat and power (CCHP) generation systems is applied. Two key performance indicators are selected to evaluate both the technical and the economic performance, based on operating recording data; the capacity factor and the capital recovery. The case study for eight projects in Athens is presented with the purpose to reveal the current situation of CHP in Greece and identify reasons that are hindering its penetration. Interesting conclusions were reached from the analysis. Only two out of the eight projects managed to achieve the break-even point in less than four years since the beginning of their operation, while oversizing phenomena were noticed in many cases leading in extremely low capacity factors.

Keywords: CHP; CCHP; capacity factor; capital recovery; performance evaluation; key performance indicators (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

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