Impact of Energy Price Consideration on Economic Analysis of a Solid Oxide Fuel Cell Hybrid Power Plant

In this study, an economic analysis of a hybrid system, a pressurized solid oxide fuel cell-gas turbine (SOFC-GT) with a capacity of 1.7 MW, which includes several sub-units, is conducted. Using the formulation, a cost-oriented economic survey including the equipment and the system costs, is also analyzed based on a sensitivity analysis. The presented model consists of some distinctions and the following considerations: First, considering the field equipment, the formulations is updated; Second, considering the variable cost, a range of variations for parameters’ prices is selected; Third, the objective function in non-linear mathematical optimization format is prioritized. The results indicate that based on current energy prices and economic conditions, Europe is the most economically justifiable by having internal rate of return (IRR) and a payback period equal to 15.5% and the 6.7 years respectively. It has also been compared with the results of the previous economic studies.