Performance analysis of an endoreversible heat engine based on a new thermoeconomic optimization criterion

A new kind of finite time thermoeconomic optimization analysis for an endor eversible heat engine has been performed. The objective function has been t aken as the power output per unit total cost. The optimum performance param eters that maximize the objective function are investigated. In this perspe ctive, some analytical equations for the optimum working fluid temperatures , optimum thermal efficiency, optimal distributions of heat exchanger areas and optimum specific power output were found in terms of economical and te chnical parameters. The effects of the design parameters on the optimal con ditions have been discussed. (C) 2001 Elsevier Science Ltd. All rights rese rved.