Thermoeconomics is a discipline that combines both thermodynamic and economic analysis for thermal systems. One of the objectives of thermoeconomics is to minimize the product cost of a thermal system for a given capacity or to maximize the product capacity for a given total cost. In this paper, application of thermoeconomics is directed to single-, double-, and triple-effect absorption chillers with a given cooling capacity in order to investigate both initial capital and total operating costs of the chillers and their auxiliary equipment and to evaluate the specific life-cycle costs of the cooling systems. The life cycle cost of an electric vapor-compression chiller is also evaluated for comparison purposes. The results provide guidelines for designing and selecting cost-efficient absorption chillers.

Units: SI