In recent decades, there has been an increasing trend toward the technical development of efficient energy system assessment tools owing to the growing energy demand and subsequent greenhouse gas emissions. Accordingly, in this paper, a comprehensive emergy-based exergoeconomic (emergoeconomic) method has been developed to study the biomass combustion waste heat recovery organic Rankine cycle (BCWHR-ORC), taking into account thermodynamics, economics, and sustainability aspects. To this end, the system was formulated in Engineering Equation Solver (EES) software, and then the exergy, exergoeconomic, and emergoeconomic analyses were conducted accordingly. The exergy analysis results revealed that the evaporator unit with 55.05 kilowatts and the turbine with 89.57% had the highest exergy destruction rate and exergy efficiency, respectively. Based on the exergoeconomic analysis, the cost per exergy unit (c), and the cost rate (C˙) of the output power of the system were calculated to be 24.13 USD/GJ and 14.19 USD/h, respectively. Next, by applying the emergoeconomic approach, the monetary emergy content of the system components and the flows were calculated to evaluate the system's sustainability. Accordingly, the turbine was found to have the highest monetary emergy rate of capital investment, equal to 5.43×1012 sej/h, and an output power monetary emergy of 4.77×104 sej/J. Finally, a sensitivity analysis was performed to investigate the system's overall performance characteristics from an exergoeconomic perspective, regarding the changes in the transformation coefficients (specific monetary emergy).
Keywords: emergoeconomic; exergoeconomic; organic Rankine cycle (ORC); sustainability; waste heat recovery (WHR).