Exploration of economical sizing of gas engine and thermal store for combined heat and power plants in the UK

Abstract

There has been discussion about the extent to which combined heat and power (CHP) plants with thermal stores are suitable for sustainable energy production. At the moment, in the UK the development of this type of plant is limited. This paper analyses the economics and optimum size of CHP operating with gas engines and thermal stores in British market conditions. This is achieved using energyPRO software. It is shown that, due to the big differences in electricity prices between day and night, the use of thermal stores could be profitable in the UK. The economical size of CHP plant for a district or community heating load of 20,000 MWh per year is found to be a 3 MWe gas engine with a 7.8 MWh thermal store. In this case the analysis reveals that the use of a thermal store more than doubles the return on investments (as measured in net present value) compared with the same size of a plant without a thermal store. It is concluded that thermal stores can improve the overall economics of CHP plants in present British circumstances.