Energy efficiency and cost analysis with economizer in industrial systems

This thesis comprehensively examines the effects of economizer usage on energy efficiency and cost analysis in industrial systems. The main objective of the study is to determine the effects of different optimization methods on the financial payback periods and operational performances of economizer investments. In this context, a mathematical model has been developed to determine the optimal sizes of an economizer in a business, calculate the necessary pump and fan power, conduct cost analyses, and identify the payback period of the investment. As a result of the analyses conducted, it was determined that the OPTY2 optimization method exhibited high initial investment costs and long total payback periods (4.82 months for initial payback, 13.58 months for total payback) under all criteria (PEC1, PEC2, PEC3, PEC4). This finding indicates that the OPTY2 method is less cost-effective compared to other optimization approaches. Return on investment analysis emerges as a critical factor in determining the financial attractiveness of industrial economizer systems. If the primary goal is to recover the investment in the shortest time possible, the OPTY3 optimization method under the PEC1 or PEC4 criteria has been determined to be the most suitable approach. Conversely, in cases where achieving a specific level of performance or efficiency is more prioritized (for example, under the PEC2 criterion), the long-term benefits of the investment and strategic goals should be taken into account. This thesis provides valuable insights that will contribute to informed decision-making processes for industrial economizer investments. The findings emphasize the importance of balancing cost-effectiveness and strategic priorities during the planning and implementation phases of energy efficiency projects. Keywords: Economizer, Energy Efficiency, Cost Analysis, Payback Period, Optimization, Industrial Systems.