Lost work and exergy: two views of the same concept

We present the fundamental equation for a system and for a process, and by considering irreversibility within the system, we show that the lost work concept emerges naturally from the formalism. We then argue that if irreversibility is considered within the surroundings the lost work becomes what is known as exergy. Therefore, lost work and exergy are two views of the same concept, which in turn integrates a broader and more fundamental concept: entropy generation. It is our opinion that the clarification of the meanings of lost work and exergy, as well as the discussion that leads to an understanding of their differences and similarities, has not received the attention in the literature that it deserves. This paper fills that gap, and it is hoped that the discussion of these two concepts here will be useful for both students and teachers.