Utilize your model of Rankine-cycle with re-heat to maximizing the 20-year Rate of Return on the...

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Utilize your model of Rankine-cycle with re-heat to maximizing the 20-year Rate of Return on the plant by determining the best turbine option for the cycle. Assume the following: i) The power plant produces 400MW of net electric power ii) The maximum allowable steam temperature is 600C iii) The maximum pressure the boiler, superheater, and turbines can tolerate is 10.0 MPa iv) The intermediate re-heat boiler operates at 1.5 MPa v) The pump efficiency is 70% vi) The condenser operates at 25C vii) The wholesale market rate for electric energy is $45 per MWhr. Assume a 3% annual increase. viii) Wholesale natural gas costs for 2023 are listed below. Assume the cost increases 6% per year. ix) Both the high pressure and low pressure turbines have the same isentropic efficiency Table 1 specifies the turbines capital cost and efficiencies. Table 2 specifies the monthly gas costs in 2023. Table 1. Turbine efficiency and capital cost Turbine Isentropic Efficiency 80% 85% 90% 95% Two Turbines with Reheat Cost $200,000,000 $350,000,000 $500,000,000 $650,000,000 Table 2. Natural gas monthly cost in 2023 Jan Feb Mar Apr Natural Gas $/1000ft 3.66 3.54 3.34 2.96 Jul Aug Sep Oct Nov Dec 2.91 3.16 3.25 3.93 4.07 May Jun 2.86 2.72 2.55 1) Show time series plots of revenue and costs for each of the four configurations. 2) Quantify the rate of return for each configuration. 3) Visualize the trade-off in plant efficiency and rate of return. 4) Plot the best option, highest rate of return, on a Ts Diagram and Pv Diagram. Utilize your model of Rankine-cycle with re-heat to maximizing the 20-year Rate of Return on the plant by determining the best turbine option for the cycle. Assume the following: i) The power plant produces 400MW of net electric power ii) The maximum allowable steam temperature is 600C iii) The maximum pressure the boiler, superheater, and turbines can tolerate is 10.0 MPa iv) The intermediate re-heat boiler operates at 1.5 MPa v) The pump efficiency is 70% vi) The condenser operates at 25C vii) The wholesale market rate for electric energy is $45 per MWhr. Assume a 3% annual increase. viii) Wholesale natural gas costs for 2023 are listed below. Assume the cost increases 6% per year. ix) Both the high pressure and low pressure turbines have the same isentropic efficiency Table 1 specifies the turbines capital cost and efficiencies. Table 2 specifies the monthly gas costs in 2023. Table 1. Turbine efficiency and capital cost Turbine Isentropic Efficiency 80% 85% 90% 95% Two Turbines with Reheat Cost $200,000,000 $350,000,000 $500,000,000 $650,000,000 Table 2. Natural gas monthly cost in 2023 Jan Feb Mar Apr Natural Gas $/1000ft 3.66 3.54 3.34 2.96 Jul Aug Sep Oct Nov Dec 2.91 3.16 3.25 3.93 4.07 May Jun 2.86 2.72 2.55 1) Show time series plots of revenue and costs for each of the four configurations. 2) Quantify the rate of return for each configuration. 3) Visualize the trade-off in plant efficiency and rate of return. 4) Plot the best option, highest rate of return, on a Ts Diagram and Pv Diagram.