This paper deals with integrated conventional and advanced exergetic, exergoeconomic and exergoenvironmental analyses. Such an advanced analysis evaluates the interactions among components of the overall system, and the real potential for improving a system component. Splitting the exergy destruction, the capital investment cost and the component-related environmental impact associated with each single component of an energy conversion system into endogenous/exogenous and avoidable/unavoidable parts enhances these analyses and improves the quality of the conclusions obtained from them. The paper consists of two parts. In the first one, the theoretical development is presented, whereas in the second part an application to a gas-turbine-based cogeneration system is discussed.

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