I have the coste of differents type of components (reformer, anaerobic digester, fuel cell, electrolyser, and gas boiler) in diffenrents years, I need to adjust them, in order to use them in one objective function in an economic optimization of multi-energy systems , I need to know how to do it and the necessary data.
Thank you
best regards
It could use each factor (different type of energy production) and apply a PB (Plackt Burmman) statistic or a DCCR (Central Compound Rotational Design) so it would have which would be more meaningful and would have the surfaces of response graphs.
One way is to use the gross domestic product (GDP) real growth rate to update the values. You need the historical series of real growth rate of GDP to calculate the GDP at market exchange rate (MER) in certain year to update your prices with the same rate, considering a certain base year.
To adjust the cost indexes, please use the formula provided in the textbook:
Peters, Timmerhaus, and West, Plant Design and Economics for Chemical Engineers. Fifth Edition, McGraw Hill publisher.
The cost indexes include: Marshall & Swift, Eng. News-Records, Nelson-Farrar, and chemical engineering plant cost index.
Hope this helps answer your question.
Professor Yehia Khalil, Yale University, USA
Fellow of the University of Oxford, UK
That's called deflation. You have nominal values and need real values, and for that, a price index is required. Here is an explanation.
https://www.dallasfed.org/research/basics/nominal.aspx
In this case, you need to identify the products and their category, to use the appropriate price index for each category of products in the deflation process. Good luck!
https://www.dallasfed.org/research/basics/nominal.aspx
thank you for your responses
Can I use the CE plant cost index for an electrolyser , fuel cell, anaerobic digester and hydrogen storage facility
thank you
Yes you can use CE plant cost index for the equipment that you cited.
Professor Yehia Khalil
Yale University, USA
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