Thermodynamic and techno-economic evaluation of a CAES based cogeneration system integrated with high-temperature thermal energy storage and ammonia absorption refrigeration

The development of compressed air energy storage (CAES) technology can ensure the safe and stable operation of the power system, promote the consumption of renewable energy and reduce carbon emissions. In order to improve the comprehensive performance of the CAES system and meet the diversified demand of energy, a cooling, heating and power cogeneration system based on compressed air energy storage with high temperature thermal energy storage and ammonia absorption refrigeration are developed in this study. The compression heat of the energy storage process and the exhaust waste heat of the energy release process are fully utilized in this system. Thermodynamic analysis, techno-economic evaluation and parametric analysis are conducted. The thermodynamic analysis results show that the proposed system achieve an ENE of 81.51 %, an EXE of 53.51% and an ESD of 7.08 kWh/m3 under the design condition. The economic analysis results indicate that the NPV, IRR and LCOE for a system life of 25 years are 489497 $, 32.1 % and 0.0953 $/kWh, with a DPP of 3.91 years. Sensitivity analysis results conclude that the outlet temperature of HTTES, and the maximum and minimum operating pressures are the key parameters affecting the system performance.