Techno-economic assessment of small and micro combined heat and power (CHP) systems
A.D. Hawkes, Imperial College London, UK
This chapter introduces the economics of small-scale CHP systems. Beginning with a review of how decentralised energy resources can achieve economic value, it then discusses the sometimes ill-defined concept of techno-economics, and the variety of modelling techniques that underpin it. An optimisation method that pinpoints the key characteristics of commercially successful CHP is presented and applied to the case of micro-CHP in the UK, demonstrating that the heat-to-power ratio prime mover is the key driver of economic and environmental performance. Finally, the emerging tension between CHP and heat ...