Optimal Allocation of Heat Exchanger Investment

Abstract

The optimal allocation of a given investment capital to the heat exchanging inventory is studied for heat engines, refrigerators and heat pumps. The study is based on an endoreversible model operating between two constant temperature heat reservoirs at optimal thermodynamic performance, which is either minimal entropy production or maximum power production. The analysis accounts for the fact that the actual costs of heat exchangers equipment is subject to the material, design and operating conditions of the heat exchangers so that the dependence between the costs and heat transfer coefficients generally needs to be considered as nonlinear and different for the hot and cold side of the system. Contrary to existing results showing no difference between cyclic and stationary operation for Newtonian heat transfer we find one. This result also pertains to non-Newtonian heat transfer.