Economic framework for net power density and levelized cost of electricity in pressure-retarded osmosis
Economic analysis is necessary to ascertain the practical viability of a pressure-retarded osmosis (PRO) system for power production, but high complexity and the lack of large scale data has limited such work. In this study, a simple yet powerful economic framework is developed to relate the lower b...
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| Format: | Article |
| Language: | en_US |
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Elsevier
2018
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| Online Access: | http://hdl.handle.net/1721.1/118349 https://orcid.org/0000-0001-8375-2694 https://orcid.org/0000-0003-0402-8185 https://orcid.org/0000-0002-2901-0638 |
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| author | Chung, Hyung Won Swaminathan, Jaichander Banchik, Leonardo David Lienhard, John H |
| author2 | Massachusetts Institute of Technology. Department of Mechanical Engineering |
| author_facet | Massachusetts Institute of Technology. Department of Mechanical Engineering Chung, Hyung Won Swaminathan, Jaichander Banchik, Leonardo David Lienhard, John H |
| author_sort | Chung, Hyung Won |
| collection | MIT |
| description | Economic analysis is necessary to ascertain the practical viability of a pressure-retarded osmosis (PRO) system for power production, but high complexity and the lack of large scale data has limited such work. In this study, a simple yet powerful economic framework is developed to relate the lower bound of levelized cost of electricity (LCOE) to net power density. A set of simplifying assumptions are used to develop an inverse linear relationship between net power density and LCOE. While net power density can be inferred based on experimentally measured power density, LCOE can be used to judge the economic viability of the PRO system. The minimum required net power density for PRO system to achieve an LCOE of $0.074/kWh (the capacity-weighted average LCOE of solar PV in the U.S.) is found to be 56.4 W/m2. Using this framework, we revisit the commonly cited power density of 5 W/m[superscript 2] to conclude that it is not economically viable because net power density would be even lower. Finally, we demonstrate that fundamental difference exists between power density and net power density, and as a result we recommend using net power density as a performance metric for PRO system. Keywords: Pressure-retarded osmosis; Economic analysis; Levelized cost of electricity; net power density |
| first_indexed | 2024-09-23T15:11:36Z |
| format | Article |
| id | mit-1721.1/118349 |
| institution | Massachusetts Institute of Technology |
| language | en_US |
| last_indexed | 2024-09-23T15:11:36Z |
| publishDate | 2018 |
| publisher | Elsevier |
| record_format | dspace |
| spelling | mit-1721.1/1183492022-09-29T13:18:59Z Economic framework for net power density and levelized cost of electricity in pressure-retarded osmosis Chung, Hyung Won Swaminathan, Jaichander Banchik, Leonardo David Lienhard, John H Massachusetts Institute of Technology. Department of Mechanical Engineering Rohsenow Kendall Heat Transfer Laboratory (Massachusetts Institute of Technology) Chung, Hyung Won Swaminathan, Jaichander Banchik, Leonardo David Lienhard, John H. Economic analysis is necessary to ascertain the practical viability of a pressure-retarded osmosis (PRO) system for power production, but high complexity and the lack of large scale data has limited such work. In this study, a simple yet powerful economic framework is developed to relate the lower bound of levelized cost of electricity (LCOE) to net power density. A set of simplifying assumptions are used to develop an inverse linear relationship between net power density and LCOE. While net power density can be inferred based on experimentally measured power density, LCOE can be used to judge the economic viability of the PRO system. The minimum required net power density for PRO system to achieve an LCOE of $0.074/kWh (the capacity-weighted average LCOE of solar PV in the U.S.) is found to be 56.4 W/m2. Using this framework, we revisit the commonly cited power density of 5 W/m[superscript 2] to conclude that it is not economically viable because net power density would be even lower. Finally, we demonstrate that fundamental difference exists between power density and net power density, and as a result we recommend using net power density as a performance metric for PRO system. Keywords: Pressure-retarded osmosis; Economic analysis; Levelized cost of electricity; net power density Kuwait Foundation for the Advancement of Sciences (P31475EC01) Massachusetts Institute of Technology. Tata Center for Technology and Design 2018-10-04T14:08:12Z 2018-10-04T14:08:12Z 2018-12 2018-08 Article http://purl.org/eprint/type/JournalArticle 0011-9164 1873-4464 http://hdl.handle.net/1721.1/118349 Chung, Hyung Won, et al. “Economic Framework for Net Power Density and Levelized Cost of Electricity in Pressure-Retarded Osmosis.” Desalination, vol. 448, Dec. 2018, pp. 13–20. https://orcid.org/0000-0001-8375-2694 https://orcid.org/0000-0003-0402-8185 https://orcid.org/0000-0002-2901-0638 en_US https://doi.org/10.1016/j.desal.2018.09.007 Desalination Creative Commons Attribution-Noncommercial-Share Alike http://creativecommons.org/licenses/by-nc-sa/4.0/ application/pdf Elsevier Prof. Lienhard |
| spellingShingle | Chung, Hyung Won Swaminathan, Jaichander Banchik, Leonardo David Lienhard, John H Economic framework for net power density and levelized cost of electricity in pressure-retarded osmosis |
| title | Economic framework for net power density and levelized cost of electricity in pressure-retarded osmosis |
| title_full | Economic framework for net power density and levelized cost of electricity in pressure-retarded osmosis |
| title_fullStr | Economic framework for net power density and levelized cost of electricity in pressure-retarded osmosis |
| title_full_unstemmed | Economic framework for net power density and levelized cost of electricity in pressure-retarded osmosis |
| title_short | Economic framework for net power density and levelized cost of electricity in pressure-retarded osmosis |
| title_sort | economic framework for net power density and levelized cost of electricity in pressure retarded osmosis |
| url | http://hdl.handle.net/1721.1/118349 https://orcid.org/0000-0001-8375-2694 https://orcid.org/0000-0003-0402-8185 https://orcid.org/0000-0002-2901-0638 |
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