Advanced exergo-economic analysis of an advanced adiabatic compressed air energy storage system with the modified productive structure analysis method and multi-objective optimization study

In this study, conventional and advanced exergy/exergo economic analyses of an advanced adiabatic compressed air energy storage system (AA-CAES) system with a power output of 6 MW were performed. In addition, sensitivity analysis and multi-objective optimization study of the proposed system were also carried out. For the first time in the literature, advanced exergo-economic analysis was applied to the AA-CAES system with the Modified Productive Structure Analysis (MOPSA) method, and a new parameter was introduced as a performance criterion for this method. As a result of the study, the system's exergy efficiencies were found to be 54.51 % and 77 %, respectively, according to the conventional and advanced exergy analyses of the system. According to the conventional exergy analysis, the first three system components that should be given priority are the wind turbine (WT), the regulator (REG), and the heat exchangers-3 (HE-3), respectively. According to the advanced exergy analysis, this order changes as WT, the compressor-1 (C-1), and the compressor-2 (C-2). 40 % of the system's exergy destruction and exergy destruction cost rates are avoidable endogenous. This value shows the improvement potential of the system. As a result of the multi-objective optimization study, the modified exergy efficiency was found to be 94.58 %. The average unit product-exergy destruction cost was 59.51 $/GJ; these values were 22.83 % and 1.6 % improvement, respectively, compared to the base case.