Advanced exergy analysis has gained great importance as a comprehensive evaluation tool for energy conversion systems in recent years. In this regard, splitting the exergy destruction into avoidable/unavoidable parts has enabled us to identify the improvement potential of component while endogenous/exogenous parts of the exergy destruction have been detailed studied to get more information about interactions among the components. An ice rink refrigeration system was investigated using both conventional and advanced exergoeconomic analyses in this paper. The ice rink refrigeration system has a cooling load of 300 kW and ammonia was chosen as refrigerant. Exergy destruction, investment cost rates and exergy destruction cost rates based on these two analyses were calculated first. Endogenous/exogenous and avoidable/unavoidable parts of the exergy destruction, investment cost rates and exergy destruction cost rate for each system component were then presented. Finally, possible solutions to reducing inefficiencies were discussed. It was determined that 47.15% of the total exergy destruction of the system was avoidable while 22.89% of the total exergy destruction of the system was exogenous. The evaporator with 18% endogenous available investment cost rate and the condenser with 64.3% endogenous available exergy destruction cost rate were the two most important components in the ice rink refrigeration system. (C) 2016 Elsevier B.V. All rights reserved.