Life Cycle Cost for a Solar Heating and Cooling System

Solar absorption cooling has been an intriguing research subject since 1970. However, it is not widely applied because the first cost of the system is high, the commercial hot water absorption chiller is not mature, the site demonstration and evaluation are not adequate and the price of conventional fossil energy sources is relatively low. This paper investigates the commercialization potentials of solar absorption cooling and solar heating system by comparing the life cycle cost between it and the conventional electrical chiller cooling and gas-fired boiler heating system. A computational model has been programmed in the Engineering Equation Solver (EES) to analyze the economical performances of the two systems applied to a dedicated building. The model considers the cost of capital, installation, operation and maintenance, the discount rate, the fuel prices, and the inflation rates. The result of the model indicated that given the present fuel cost, the solar absorption cooling and heating system is not as economic as the conventional system especially when its size is small. However, according to the sensitivity analysis carried, the solar absorption cooling and heating system could compete with the conventional cooling and heating system when the electricity price and fuel inflation increase.