Economic Analysis and Multi-Objective Optimization of a Solar Adsorption-Absorption Cooling System under Different Australian Weather Conditions

An economic analysis and multi-objective optimization of a novel solar integrated adsorption-absorption cooling system is conducted. This system integrates the absorption cycle into the adsorption cycle so that the generation/adsorption pressure can be adjusted to improve the system energy performance at low-grade thermal renewable energy. The feasibility of the solar cooling system is examined in seven Australian cities. For each city, the optimization of the major design parameters is performed to obtain the optimum design conditions leading to the maximum energy saving. Some financial indexes are applied to evaluate the economic viability of the solar energy application in the system for a 25-year project. Adelaide city is seen as the most suitable location with the highest net present value ($34,024) and the lowest payback period of 9.2 years. In contrast, Melbourne with the lowest net present value ($13,648) and the highest payback period of 12 years is observed as the less suitable place for installing the solar system. The economic comparison reveals that the power consumption can be saved by 65% on average via installing the solar system in different locations. Moreover, the optimal financial results indicate the great superiority of the solar integrated system over the conventional adsorption system.