In many high temperature applications or energy intensive processes, energy utilization becomes inadequate and significant energy losses do occur due to faulty design, faulty maintenance, faulty operation, and lack of efficient energy recovery. This work deals with design and analysis of regenerative heat exchangers that employ refractory checker work and that are popularly recommended for use in industrial practices to improve the efficiency of energy recovery. Development of multiparameter software has been attempted to establish the relationship between the design and systems parameters and to predict reliably the useful heat wasted due to heat exchanger nonideality. In regenerators of this kind, both forced convection and radiation heat transfer occur. The developed software package discusses estimation of heat transfer (to cooling fluid such as air) by both of these mechanisms. The tortuous nature of flow geometry has been adequately taken care of. Radiation heat transfer has been estimated based on well-developed databases, including an additional database developed in this work (for the computation of spectral overlap correction factor). Attempts have also been made to compare the performance data predicted by the developed computer aided design package with industrial data compiled from power plants, steel plants, and others.