Investment Strategy in Heating and CHP : Mathematical Models

This book provides a methodology for developing an optimum investment strategy in the heating and combined heat and power (CHP) industry. It demonstrates how to apply mathematical models to the analysis of heat and electricity source operation from technical and economic perspectives. It also allows readers to ascertain the economic effectiveness of modernizing an existing CHP plant. The mathematical models presented are designed to recognize identity profits in continuous time so that they can be better predicted.

The authors examine the operational costs of a CHP plant and the impact of factors, such as environmental costs, associated with investment in the heating and CHP sector to enable readers to select the most appropriate technologies. It presents a state-of-the-art technical and economic analysis to enhance readers’ understanding of investment in and optimization of heating and CHP, and provides practical guidance for investors’ decision-making.

The book is a valuable source of information, making it ideal for financial analysts and power engineers. Thanks to its in-depth analysis of mathematical methods, it is also suitable for students and researchers with an interest in investment strategy.

Professor Ryszard Bartnik is a power engineering researcher and scientist very well known in the academic and industrial sectors, thanks to his international publications and books. His fields of specialization are heat and power generating technologies, and power management. Further, his work explores the technical and economical problems of coal fired and natural gas fired heat and power generating plants. He worked at the Silesian University of Technology as academic teacher, then in design offices making some projects, and a few years ago he became a professor at the Opole University of Technology. He is the author or co-author of seven books, including Conversion of Coal-Fired Power Plants to Cogeneration and Combined-Cycle; Thermal and Economic Effectiveness, Springer, London 2011; The Modernization Potential of Gas Turbines in the Coal-Fired Power Industry. Thermal and Economic Effectiveness, Springer, London 2013; Combined cycle power plants. Thermal and economic effectiveness, WNT, Warszawa 2009, 2012, (in Polish); Economic Account in the Power Industry, Wydawnictwo WNT, Warszawa 2014 (in Polish); and Optimum Investment Strategy in the Power Industry. Mathematical Models, Springer-Verlag, New York 2016.

Dr eng. Zbigniew Buryn holds a Ph.D. degree from Opole University of Technology Faculty of Mechanical Engineering and an M.Sc. degree in Electrical Engineering from Opole University of Technology. He is currently an assistant professor in the Faculty of Production Engineering and Logistics there and also works as a power analysis specialist at a power plant. He is the author of several dozen articles on the power industry and co-author of two books: Conversion of Coal-Fired Power Plants to Cogeneration and Combined-Cycle: Thermal and Economic Effectiveness, Springer, London 2011 and Quasi-unsteady CHP Operation of Power Plants: Thermal and Economic Effectiveness, Springer, London 2016. He is also a member of the Energy Commission at the Katowice Branch of the Polish Academy of Sciences (PAN). 

Dr eng. Anna Hnydiuk-Stefan is a lecturer at Opole University of Technology. She has extensive experience in cooperation with the major Polish power groups in the field of carbon emissions trading schemes. She has an MBA in Finance and Insurance from Illinois State University and the Technical University of Lodz. She is a licensed commodity broker in Poland and a member of the Energy Commission at the Katowice Branch of the Polish Academy of Sciences (PAN). She is the author of several articles on oxy-fuel combustion technology and environmental charge impact on a power plant operation, including “Thermodynamic analysis of annual operation of a 370 MW power unit operating in CHP-mode” Applied Thermal Engineering, Elsevier, 2016, “Analysis of supercritical coal fired oxy combustion power plant with cryogenic oxygen unit and turbo-compressor”, Energy, Elsevier, 2017, and the book Optimum Investment Strategy in the Power Industry. Mathematical Models, Springer-Verlag, New York 2016.