Splitting costs of a marine diesel engine waste heat recovery system into avoidable and unavoidable parts

Cost is a key parameter to decide and design new system investments in ship owner’s perspective. Exergoconomic analysis is to evaluate costs of energy conversion system and components from exergetic point of view. However, it lacks insight about the saving potential of the system. On the other hand, advanced exergoeconomic analysis could reveal the avoidable and unavoidable parts of costs. In this paper, economic investigation of a steam cycle waste heat recovery system linked to a marine diesel engine of a very large crude carrier has been carried out. A parametric analysis is conducted due to system pressure. Exergy destruction costs and investment costs of components and overall system are split to identify avoidable parts of costs. It is concluded with providing detailed information, suggestions of cost reductions and the most favorable system conditions.