TECHNO-ECONOMIC ASSESSMENT OF GREEN FUEL PRODUCTION USING RENEWABLE ENERGY
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2024
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A multi-generation system, driven by photovoltaic panels, is proposed for production of methanol as the green fuel, and CO2 capture at the same time. Using MATLAB software program, the system is analyzed from technical, energy, economic, and environmental points of view to be applied for a residential building complex in Honolulu, Hawaii, the USA. The impact of the fraction of produced H2 from the whole production used for green fuel production (XH2) is studied, and the optimal value of XH2 has been found. After that, the optimal condition is compared with the base case, where no green fuel happens. According to the results, for the whole investigated range for XH2, which covers from 0.20 to 0.50, payback period is in a very good range, increasing from 3.477 to 4.599 years. In addition, according to the conducted parametric study, the best value of XH2 is found 0.40. Using the multi-generation system in the optimal condition is accompanied by a trade-off. One the one hand, as an unfavorable impact, size of system components increases, where payback period goes up from 3.034 to 4.123 years compared to the base case. On the other hand, as benefits, 11.80 tons methanol is produced and 23.19 tons CO2 has been captured in a year. The benefits are accompanied by almost 1 year increase in the payback period, which makes the trade-off with the favor of application of the optimized proposed system. Therefore, the optimized proposed system could be introduced as a totally justifiable system from both economic and environmental aspects.
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Mechanical engineering
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66 pages
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