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Economic analysis of a heat pump system for university facilities in Korea.

Author(s) : CHEONG S. I., KIM G. T., SHENG N. L., et al.

Summary

This study presents an economic analysis through actual operation of an electric heat pump (EHP) and an gas engine driven heat pump (GHP) which are installed at the same building of an university. Cost items, such as initial costs, annual energy cost and maintenance cost of each system are considered to analyze life cycle cost (LCC) and economical efficiency is compared. The initial costs are considered on the basis of actual costs, and annual energy cost is converted into the cost after measuring electricity and gas consumption a day. LCC applied present value method is used to assess economical efficiency of both them. Variables used to LCC analysis are electricity charge escalation rate, natural gas cost escalation rate, interest rate, and service lives and when each of them are 4, 2, 8 and 20 years, results of analysis show that EHP (148 257 306 won) is 8.05% (12 981 990 won) more profitable than GHP (161 239 296 won).

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Pages: ICR07-E2-1263

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Details

  • Original title: Economic analysis of a heat pump system for university facilities in Korea.
  • Record ID : 2008-1001
  • Languages: English
  • Subject: Figures, economy
  • Source: ICR 2007. Refrigeration Creates the Future. Proceedings of the 22nd IIR International Congress of Refrigeration.
  • Publication date: 2007/08/21

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