Electrical Engineering ⇒ Topic : Introduction of Power Generation

INTRODUCTION

In all fields of industry economics plays an important role. In power plant engineering economics of power system use certain well established techniques for choosing the most suitable system. The power plant design must be made on the basis of most economical condition and not on the most efficient condition as the profit is the main basis in the design of the plant and its effectiveness is measured financially. The main purpose of design and operation of the plant is to bring out the cost of energy produced to minimum. Among many factors, the efficiency of the plant is one of the factors that determines the energy cost. In majority of cases, unfortunately the most thermally efficient plant is not economic one