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An Assessment of Economic Analysis Methods for Cogeneration Systems
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Cogeneration feasibility studies were conducted for eleven state agencies of Texas. A net present value (NPV) analysis was used to evaluate candidate cogeneration systems and select the optimum system. CELCAP, an hour-by-hour cogeneration analysis computer program was used to determine the costs used in the NPV analysis. The results of the studies showed that the state could save over $6,000,000 per year in reduced utility bills. Different methods of analyzing the economic performance of a cogeneration system are presented for comparison. Other implications of the study are also discussed.
Bolander, J. N.; Murphy, W. E.; Turner, W. D. (1985). An Assessment of Economic Analysis Methods for Cogeneration Systems. Energy Systems Laboratory (http://esl.tamu.edu); Texas A&M University (http://www.tamu.edu). Available electronically from