A comprehensive assessment of the methodologies of thermodynamic optimization, exergy analysis and thermoeconomics, and their application to the design of efficient and environmentally sound energy systems. The chapters are organized in a sequence that begins with pure thermodynamics and progresses towards the blending of thermodynamics with other disciplines, such as heat transfer and cost accounting. Three methods of analysis stand out: entropy generation minimization, exergy (or availability) analysis, and thermoeconomics. The book reviews current directions in a field that is both extremely important and intellectually alive. Additionally, new directions for research on thermodynamics and optimization are revealed.