Techno-economic evaluation of multiple energy piles for a ground-coupled heat pump system

•A GCHP system with multiple EPs for a domestic building application is investigated.•The annual average COP of 3.63 and EER of 4.62 are achieved.•The cumulative SEC saving of £9166 exceeds the capital investment of £9033 in the fourth year.•The cumulative EPS of £9531.53 surpasses the remaining pri...

Full description

Saved in:
Bibliographic Details
Published in:Energy conversion and management 2018-12, Vol.178, p.200-216
Main Authors: Cui, Yuanlong, Zhu, Jie, Meng, Fanran
Format: Article
Language:English
Subjects:
Electricity pricing
Energy
Energy output
Energy pile
Evaluation
Feasibility
Feasibility studies
Fossil fuels
Ground-coupled heat pump
Heat exchangers
Heat pumps
Life cycle assessment
Life cycle costs
Life-cycle cost
Markets
Net present value
Parameter sensitivity
Payback period
Payback periods
Residential buildings
Residential energy
System performance
Technology assessment
Citations: Items that this one cites
Items that cite this one
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:•A GCHP system with multiple EPs for a domestic building application is investigated.•The annual average COP of 3.63 and EER of 4.62 are achieved.•The cumulative SEC saving of £9166 exceeds the capital investment of £9033 in the fourth year.•The cumulative EPS of £9531.53 surpasses the remaining principal balance of £7106.28 by the end of the fifth year.•The GCHP system has a payback period of approximately 4.31 years. A technical and economic feasibility study of multiple energy piles (EPs) for a ground-coupled heat pump (GCHP) system is presented in this paper. The GCHP system energy performance and life-cycle cost (LCC) are evaluated, it is found that the system energy output (heating and cooling) could meet a domestic building comfortable environment requirement with the annual average COP of 3.63 and EER of 4.62. The LCC evaluation indicates that the system net present value (NPV) is approximately £26,095 at the market discount rate of 8.75% for a 20-year operating period. Moreover, the payback period of the GCHP system is approximately 4.31 years, which is sensitive to the main parameters including electricity price, capital investment and energy generation. Furthermore, the low discount rate and high energy generation are beneficial to the GCHP system with the high NPV and cash flows. The capital price of the system should be regulated to a lower level for the larger market potential.
ISSN:0196-8904
1879-2227
DOI:10.1016/j.enconman.2018.10.042