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The so-called Novikov power plant model has been widely used to represent some actual power plants, such as nuclear electric power generators. In the present work, a thermo-economic study of a Novikov power plant model is presented under three different regimes of performance: maximum power (MP), maximum ecological function (ME) and maximum efficient power (EP). In this study, different heat transfer laws are used: The Newton’s law of cooling, the Stefan–Boltzmann radiation law, the Dulong–Petit’s law and another phenomenological heat transfer law. For the thermoeconomic optimization of power plant models, a benefit function defined as the quotient of an objective function and the total economical costs is commonly employed. Usually, the total costs take into account two contributions: a cost related to the investment and another stemming from the fuel consumption. In this work, a new cost associated to the maintenance of the power plant is also considered. With these new total costs, it is shown that under the maximum ecological function regime the plant improves its economic and energetic performance in comparison with the other two regimes. The methodology used in this paper is within the context of finite-time thermodynamics

Thermoeconomic Optimization of an Irreversible Novikov Plant Model under Different Regimes of Performance