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∑ + × + =∑ + × (5.40) For this system a costing analysis is done to estimate the initial capital costs (ICC) and the operating and maintenance costs (OM). An amortization factor is used to amortize the cost of the sum of ICC and OM over 20 years at 5% interest rate. This is given in the equation below (Nafey et al., 2010). = () (5.41) () Total costs for each of the components in the system are needed in $/h in order to use them in cost rate balance equations. The initial capital cost and the operating and maintenance costs are added and amortized. The total costs are then divided by the number of hours in a year to get a cost in $/h. Operating and maintenance costs are assumed to be a percentage of the initial capital costs. The general equations are given in below where OMx is given below: = ( + ) (5.42) = × % (5.43) Here OM% is the percentage of operating and maintenance costs associated with initial capital cost. = (5.44) Table 5.3 outlines the costs for each of the components and the equations used to get the final capital and operating rate (). 53PDF Image | Exergoeconomic Analysis and Optimization of ORC
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