in the area of exergoeconomics the cost related data and related equations are generally taken from literature some of which are dated to be from 1996 at which time the basic equations were developed. Most of the researchers are directly citing and adopting these equipment purchase cost equations directly without any correction factor to take into account the cost rise/fall from 1996 to 2016.
Query
The publication dates for the references [26, 27, 28] quoted as the sources for the cost equations vary from 1996 to 2016. Where costs are concerned it is important that a common basis should be given (e.g. 2017 US$). Even that gives rise to a range of possible figures as the $ varies through the year. Please discuss.
[26] Bejan A, Tsatsaronis G, Moran M. Thermal design and optimization. New York, Wiley, 1996.
[27] Mohammad Ameri, Pouria Ahmadi and Armita Hamidi. Energy, exergy and exergoeconomic analysis of a steam power plant: A case study. Int. J. Energy Res. 2009;33:499–512.
[28] Amin Mohammadi Khoshkar Vandani, Fatemeh Joda, Ramin Bozorgmehry Boozarjomehry. Exergic, economic and environmental impacts of natural gas and diesel in operation of combined cycle power plants. Energy Convers Mgmt. 2016;109 :103–112.
May I request you all to suggest a response to this query which is very fundamental to area of thermoeconomic/exergoeconomic research?
Dear Mithilesh
You can use different cost indexes for different years (like Marshal and swift index for example). In fact it is an inflation indicator. Using cost indexes, it is easy to bring all cost data to the same reference year. I mean:
Cost at the reference year = Original cost *(cost index for the reference year / cost index for the year when the original cost was obtained)
In your case the original cost refers to the cost of 1996.
More information is available at :
Bejan A, Tsatsaronis G. Thermal design and optimization. John Wiley & Sons; 1996.
Thank you very much Hossein Nami your suggestion is valuable for me. Where can i find the Marshal and swift index?? Is there any link from which i can download the Marshal and swift index file without registration and all??
Dear Mithilesh
Marshal and swift index is available at different papers. Just I think it is hard to find the indexes refer to the last years. Up to 2013 is outlined at the:
Khaljani M, Saray RK, Bahlouli K. Comprehensive analysis of energy, exergy and exergo-economic of cogeneration of heat and power in a combined gas turbine and organic Rankine cycle. Energy Conversion and Management. 2015 Jun 30;97:154-65.
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