Standard GAX versus hybrid GAX absorption refrigeration cycle: From the view point of thermoeconomics

Highlights: • The SGAX cycle is found to be thermoeconomically efficient compared to HGAX cycle. • The HGAX cycle has higher COP and exergy efficiency compared to SGAX cycle. • Minimum product cost is found 180.5 $/GJ and 159.1 $/GJ for HGAX and SGAX, respectively. - Abstract: The main goal of this research is to compare thermoeconomic performance of a GAX absorption cycle and a hybrid GAX absorption cycle in which a compressor is employed to raise the absorber pressure. In order to do this, the ammonia–water standard GAX (SGAX) and hybrid GAX (HGAX) absorption refrigeration cycles are investigated and optimized from the viewpoints of thermodynamics and economics. Parametric studies are carried out and with the help of genetic algorithm (GA), the cycles' performance is optimized based on the COP and exergy efficiency as well as the cost of unit product. Results indicate that although, compared to the GAX cycle, the HGAX cycle demonstrates a better performance from the view points of both the first and second laws of thermodynamics, the unit product cost for the HGAX cycle is higher. At the optimum operating conditions, the cost of unit product for the HGAX cycle is calculated as 180.5 $/GJ while the corresponding value for the SGAX cycle is obtained as 159.1 $/GJ. Also, the exergoeconomic analyses unfold that the condenser has the lowest exergoeconomic factor, f, in both the systems. In addition, inspired from nature, a new graphical plot is proposed to illustrate the fuel cost, product cost, capital investment and operating and maintenance cost and cost rates associated with the exergy destruction and losses within the system's components