The cost-to-quality ratio-based optimization of the energy production

The paper is presenting a method of energy production optimization using the numerical value of cost-to quality ratio. It is emphasized the benefit of combined application of the both first and second thermodynamics laws. Firstly we start with first law-based energy analysis and then we proceed to exergy analysis, which is taking into consideration the thermal energy quality. Further on, using also the economic analysis we reach to exergy-economic analysis, which is giving us the facility to work with exergy rates and consequently with cost rates. Finally, using the energy quality concept expressed numerically, it is possible to optimise the energy production by means of cost-to quality ratio. (author)