Splitting the exergy destruction within each component of an energy conversion system into endogenous/exogenous and unavoidable/avoidable parts enhances an exergy analysis and improves the quality of the conclusions obtained from the analysis. The potential for improving each system component is identified and priorities, according to which the design of components should be modified, are established. We call this detailed exergy analysis advanced exergy analysis. For improving the cost effectiveness of an energy conversion system, splitting the investment cost into endogenous/exogenous and unavoidable/avoidable parts is also helpful. The designer should focus on the avoidable thermodynamic inefficiencies (exergy destruction), their costs and the avoidable investment costs. The paper discusses the calculation of these costs in general and the resulting advanced exergoeconomic evaluation that is based on the avoidable endogenous and the avoidable exogenous values for exergy destruction, cost of exergy destruction and investment cost. An application of this methodology to a compression refrigeration machine is presented.

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