At a power plant that produces 1 GW (109 watts) of electricity, the steam turbines take in steam at a temperature of 500°C, and the waste heat is expelled into the environment at 20°C.
(a) What is the maximum possible efficiency of this plant?
(b) Suppose you develop a new material for making pipes and turbines, which allows the maximum steam temperature to be raised to 600°C. Roughly how much money can you make in a year by installing your improved hardware, if you sell the additional electricity for 5 cents per kilowatt-hour? (Assume that the amount of fuel consumed at the plant is unchanged.)