A new correlation for estimating the gas turbine cost

The recent changes in energy scenario with rising attention to decarbonization, introduction of new technology and renewable source have led to design power plant with the lowest values of cost of energy, investment payback period, CO2 emission, especially in cogeneration and combined cycle plants. The cost of a gas turbine, an industrial key intellectual property value, represents a large portion of total plant capital cost. In fact, the correlations used to determine this cost, represent an important part in the optimization of power plant studied. In this work, a new cost correlation has been determined using gas turbine data presents into GTW handbook. The overall correlation, dependently only on gas turbine output power, used in a lot of scientific studies is here actualized, calculating new split-power and new coefficients for Heavy Duty and Aeroderivative gas turbine. Therefore, a more complete and detailed correlation is developed, introducing additional parameters, such as thermodynamic efficiency, pressure ratio, exhaust temperature and exhaust mass flow rate, whose values are available on gas turbine datasheet. The new correlation here proposed reflects better real gas turbine configurations and costs.