Beruflich Dokumente
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Version 1.4 removes CREST's password protection. The authors strongly recommend that you save a copy of the model in its original
Update Notice: form. Once altered, modeling results cannot be warranted by NREL or SEA. For model customization support, please contact
Sustainable Energy Advantage, LLC.
Introduction:
The CREST model is a cost-of-energy analysis tool intended to assist policy makers evaluating the appropriate payment rate for a cost-based renewable energy
incentive policy. The model aims to determine the cost-of-energy, or minimum revenue per unit of production needed for a sample (modeled) renewable
energy project to meet its investors' assumed minimum required after-tax rate of return. This model was developed in conjunction with a report entitled
Renewable Energy Cost Modeling: A Toolkit for Establishing Cost-Based Incentives in the United States, developed under contract to the National Renewable
Energy Laboratory. For more information about the factors, issues and policy decisions involved in establishing cost-based rates and incentives, please refer to
the report.
The report, user manual and CREST models are free and available for download at:
http://financere.nrel.gov/finance/content/crest-model
User Manual:
The CREST model comes with a User Manual which describes its design, features, inputs and outputs. The manual is intended to provide an easy to follow
road map to users who might not typically work with financial analyses, to ensure successful utilization of this Cost of Energy tool. The User Manual gives a
"guided tour" of the model architecture, provides an explanation of how to operate the model, compare multiple analyses, and understand the results. The
User Manual is available to download at:
http://financere.nrel.gov/finance/content/crest-model
The remainder of this Introduction worksheet provides an abridged version of the User Manual.
Model Architecture: The CREST model consists of six worksheets: (1) Introduction: An overview of the CREST model, (2) Inputs: The interface for nearly all user-defined
assumptions, (3) Summary Results: A framework for storing the output (results) and associated key inputs of multiple model runs, (4) Annual Cash Flows &
Returns: Provides a summary of the modeled project's annual cash flows, (5) Cash Flow: The formula calculations, or "guts", of the model; derives all project
cash and tax benefits, and (6) Complex Inputs: This worksheet is only used if the user elects to include a detailed breakdown of project costs; this choice is
selected by the user on the Inputs tab. Users should expect to work primarily with the "Inputs" and the "Summary Results" worksheets, although the other
tabs and summaries are also expected to be useful during the policy-making process.
Examples:
Entering Inputs: Model
Conventions Blue Bold Text denotes user-defined inputs. The user is responsible for modifying these cells to be consistent with the project being evaluated.
Input Format
Black Text is strictly reserved for cells that are calculated automatically . These cells should not be modified. Calculated Value
Format
In the "Check" column, green cells are used to indicate that the user has entered an acceptable value in a required field.
Conversely, red cells appearing in the "Check" column indicate that a required cell is blank or contains an invalid argument which requires the user's attention.
Yellow boxes are used to highlight input choices the model user must make via a dropdown menu.
Drop-Down Menu
The "Notes" column, populated with boxes showing a "?", contains a combination of definitions, explanations and ranges of typical values for most inputs. To
read a note, the users need only move the cursor onto the applicable cell. The user is strongly encouraged to review all of these comments in order to ?
understand key features of the CREST model.
Once a user has finished entering the characteristics of the project under review on the "Inputs" tab, the model will automatically calculate both the "Year
One" and equivalent "Levelized Cost of Energy" -- as defined and discussed in the User Manual. MS Excel's "Calculation Options" MUST be set to "Automatic"
in order for these results to be generated automatically. If "Calculation Options" are not set to "Automatic," then the user will need to press "F9" after any
input is changed, in order to calculate accurate results. Even when the Calculations Options are set to Automatic, there are circumstances in which F9 will
need to be pressed one or more times in order to complete the calculation. This is described in more detail in the note towards the top of the Summary
Results worksheet.
Results appear on the "Summary Results" worksheet. In an effort to allow the user to perform a side-by-side review of multiple cases, the "Summary Results"
tab has columns for multiple results. The user is encouraged to copy and paste results from column D into columns F-O as multiple scenarios are run. This is
accomplished by using the "copy" and then "paste special -- values" features in Excel.
Understanding the Results: The output of this model is the all-in payment required to cover all expenses and meet the project investors' after-tax return requirements over the specified
number of years. This payment can be used to inform the feed-in tariff rate-setting process. The payment can either be expressed as a Year One value of
which all, or a designated portion, escalates each year during the tariff's duration at a defined rate, or as a "nominal levelized" value (where zero annual
escalation is assumed). The model output is always expressed in cents/kWh. It is important to note that this calculated tariff rate is net of other assumed
incentives, such as federal tax credits and state grants.
Performance,
Check
Selected Technology
Tax Units
Is owner a taxable entity?
### Federal Income Tax Rate %
Federal Tax Benefits used as generated or carried forward?
### State Income Tax Rate %
State Tax Benefits used as generated or carried forward?
Effective Income Tax Rate %
Depreciation Allocation
Unit Definitions
(kW) kilowatt a standard measure of electrical capacity, equal to 1000 Watts.
(kWh) kilowatt hour a standard measure of electrical output. A 1 kW generator operating at ra
(DC) direct current the unidirectional flow of electric charge
(AC) alternating current the multidirectional flow of electric charge
($/kW-yr) an annual expense (or revenue) based on generator capacity
($) All CREST model values are in nominal dollars
(/kWh) cents per kilowatt hour
(%) an input with units expressed as a percentage
(years or year) an input applicable to a specified duration or project year
($/yr) inputs measured in dollars and applied annually
(months) designates the number of months to which an input applies
Pass/Fail denotes whether the two debt service coverage ratio tests have passed or failed.
Performance, Cost, Operating, Tax & Financing Inputs
Notes Check
Photovoltaic ?
Input Value
2,000 ? ###
State Average ?
CO ?
15.0% ?
17.7% ?
3,101,354 ?
0.5% ? ###
25 ? ###
Input Value
Intermediate ?
$3.60 ?
$3,500,000 ?
$2,000,000 ? ###
$500,000 ? ###
$1,000,000 ?
$389,914 ?
?
$7,389,914 ? ###
$3.69 ? ###
Input Value
Intermediate ?
$6.50 ?
0.00 ?
1.6% ?
10 ? ###
1.6% ? ###
0.4% ? ###
$28,000 ?
$0 ?
$50,000 ?
-10.0% ?
$5,000 ?
3.0% ? ###
$29,820 ? ###
Input Value
6 ?
5.0% ?
$87,500 ?
$3,150,000 ?
$4,239,914 ?
$0 ?
$7,389,914 ?
Input Value
Yes ? ### ###
35.0% ? ### ###
As Generated ? ### ###
8.5% ? ### ###
As Generated ? ### ###
40.53% ? ### ###
see table ==> ? ###
qual to 1000 Watts.
ut. A 1 kW generator operating at rated capacity for one hour will produce 1 kWh of electricity.
rator capacity
or project year
put applies
ratio tests have passed or failed.
, Operating, Tax & Financing Inputs
Technology Options
Solar Thermal
Photovoltaic
Electric
Input Value
25 ?
0.0% ?
0.0% ?
Expiration ?
Year One ? 0
5.00 ? 0
3.0% ? 0
? 0
Input Value
Neither ### ?
Cash Grant ?
30% ?
100% ###
$1,548,000 ?
Tax Credit ?
2.30 ?
100.0%
10 ?
2.0% ?
$0 ?
Yes ?
Input Value
Neither ?
30%
### ?
100%
5 ?
$0 ?
Cash ### ?
$0 ?
Yes ### ?
1.50 ? 1
100.0%
10 ?
2.0% ?
$0.00 ?
$500,000 ?
Yes ?
Input Value
10 ?
$0.235 ?
20 ?
$0.235 ?
Input Value
Operations ?
$0 ?
Input Value
6 ?
$156,575 ?
6 ?
$51,339 ?
2.0% ?
?
?
7-year MACRS 15-year MACRS 20-year MACRS 5-year SL
0.0% 1.5% 1.0% 0.0%
0.0% 2.0% 0.0% 0.0%
0.0% 0.0% 0.0% 0.0%
0.0% 100.0% 0.0% 0.0%
0.0% 0.0% 0.0% 0.0%
0.0% 0.0% 0.0% 0.0%
15-year SL 20-year SL 39-year SL Non-Depreciable
0.0% 1.0% 0.0% 2.5% ?
0.0% 2.0% 0.0% 0.0% ?
50.0% 0.0% 0.0% 0.0% ?
0.0% 0.0% 0.0% 0.0% ?
5.0% 5.0% 0.0% 10.0% ?
0.0% 50.0% 0.0% 50.0% ?
?
Lookup for State Average Capacity
Factor
AK 9.0%
AL 15.1%
AR 15.1%
AZ 19.4%
CA 18.0%
CO 17.7%
CT 13.7%
DE 14.5%
FL 16.0%
GA 15.3%
HI 16.9%
IA 13.8%
ID 16.2%
IL 14.0%
IN 13.7%
KS 16.4%
KY 14.0%
LA 15.1%
MA 13.3%
MD 14.6%
ME 13.1%
MI 13.2%
MN 13.5%
MO 14.9%
MS 15.3%
MT 15.0%
NC 15.3%
ND 14.2%
NE 15.8%
NH 13.2%
NJ 14.5%
NM 19.5%
NV 18.6%
NY 13.3%
OH 13.2%
OK 16.5%
OR 14.6%
PA 13.5%
RI 13.8%
SC 15.8%
SD 14.8%
TN 14.9%
TX 16.2%
UT 17.9%
VA 14.9%
VT 12.9%
WA 13.2%
WI 13.7%
WV 13.1%
WY 17.1%
Summary Results
Press F9 each time inputs are changed to ensure completion of the COE calculation.
When "#N/A" appears, press "F9" in the upper row on your keyboard to complete the
calculation. It may be necessary to press F9 more than once. See note for details.
Outputs Summary units Current Model Run
Yes
Does modeled project meet minimum DSCR requirements?
Yes
Does modeled project meet average DSCR requirements?
Did you confirm that all minimum required inputs have green check cells?
Inputs Summary
Selected Technology Photovoltaic
Generator Nameplate Capacity kW dc 2,000
Net Capacity Factor, Yr 1 0 17.7%
Production, Yr 1 kWh 3,101,354
Project Useful Life Years 25
Payment Duration for Cost-Based Tariff Years 25
% of Year 1 Tariff Rate Escalated % 0%
Notes: User-Defined
ere by using the "copy" and "paste special - values" feature to transfer values from column D to columns F through O
$6,000,000
$4,000,000
Flow ($)
$8,000,000
$6,000,000
$4,000,000
Cumulative Cash Flow ($)
$2,000,000
$0
0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
($2,000,000)
($4,000,000)
($6,000,000)
Project Year
Federal Federal Tax State Tax
Taxable State Taxable Benefit/ Benefit/ After Tax Cash Cumulative
Income Income (Liability) (Liability) Flow Cash Flow
$ $ $ $ $ $
($4,239,914) ($4,239,914)
($3,594,282) ($3,594,282) $1,151,069 $305,514 $1,964,056 ($2,275,859)
($236,248) ($236,248) $75,659 $20,081 $603,700 ($1,672,158)
$103,639 $103,639 ($33,190) ($8,809) $465,961 ($1,206,197)
$311,192 $311,192 ($99,659) ($26,451) $381,412 ($824,785)
$320,500 $320,500 ($102,640) ($27,243) $376,808 ($447,977)
$478,420 $478,420 ($153,214) ($40,666) $311,627 ($136,350)
$635,563 $635,563 ($203,539) ($54,023) $246,443 $110,094
$643,510 $643,510 ($206,084) ($54,698) $241,437 $351,530
$651,855 $651,855 ($208,757) ($55,408) $236,014 $587,545
$561,534 $561,534 ($179,831) ($47,730) $317,346 $904,891
$509,331 $509,331 ($163,113) ($43,293) $278,582 $1,183,472
$579,670 $579,670 ($185,639) ($49,272) $247,417 $1,430,889
$626,564 $626,564 ($200,657) ($53,258) $225,588 $1,656,477
$638,225 $638,225 ($204,392) ($54,249) $217,889 $1,874,366
$677,792 $677,792 ($217,063) ($57,612) $198,749 $2,073,115
$744,281 $744,281 ($238,356) ($63,264) $168,579 $2,241,694
$784,733 $784,733 ($251,311) ($66,702) $148,854 $2,390,548
$800,452 $800,452 ($256,345) ($68,038) $139,057 $2,529,605
$815,860 $815,860 ($261,279) ($69,348) $597,459 $3,127,064
$711,482 $711,482 ($227,852) ($60,476) $525,028 $3,652,092
$649,617 $649,617 ($208,040) ($55,217) $540,696 $4,192,789
$708,949 $708,949 ($227,041) ($60,261) $511,888 $4,704,676
$740,226 $740,226 ($237,057) ($62,919) $494,394 $5,199,070
$735,358 $735,358 ($235,498) ($62,505) $491,498 $5,690,568
$757,003 $757,003 ($242,430) ($64,345) $528,639 $6,219,207
$6,219,207
$6,219,207
$6,219,207
$6,219,207
$6,219,207
$2,500,000
$2,000,000
Expenses + Cash Obligations
$3,000,000
$2,500,000
$2,000,000
25 26 27 28 29 30 $1,000,000
$500,000
$0
0 2 4 6 8 10 12 14 16 18 20 22 24 26 28 30
-$500,000
Project Year
Graph Data
) v.
Expenses + Cash Obligations
Revenue + Tax Benefit/(Liability)
Project/Contract Year
Project Expenses
Operating Expense Inflation Factor
Depreciation Expense
Taxable Income (operating loss used as generated)
Supporting Calculations
Debt Service:
Debt Sizing (Defined Capital Structure Method)
Installed Cost (excluding cost of financing)
Defined Debt-to-Total-Capital
Size of Debt
Loan Repayment
Structured Debt Service Payment
Interest
Principal
Loan Amortization
Beginning Balance
Drawdowns
Principal Repayments
Ending Balance
Federal Carry-Forward
Operating Loss Carry-Forward, Beginning Balance
Additional Operating Loss Carried-Forward
Utilization of Operating Loss Carry-Forward
Operating Loss Carry-Forward, Ending Balance
State Carry-Forward
Operating Loss Carry-Forward, Beginning Balance
Additional Operating Loss Carried-Forward
Utilization of Operating Loss Carry-Forward
Operating Loss Carry-Forward, Ending Balance
Carry-Forward Scenario:
Federal Income Taxes Saved / (Paid), before ITC/PTC
Carry-Forward Scenario:
State Income Taxes Saved / (Paid), before ITC/PTC
Reserve Accounts:
Beginning Balance
Debt Service Reserve
O&M/Working Capital Reserve
Major Equipment Replacement Reserves
Decommissioning Reserve
Ending Balance
Interest on Reserves
Annual Contributions to/(Liquidations of) Reserves
($4,239,914) $0 $0 $0
$507,473 $507,961 $507,961
($4,239,914) $507,473 $507,961 $507,961
NA NA NA
11.64% Yr 1 COE
11.98% (cents/kWh)
($3,081) 32.05
7,000,000
45%
3,150,000
check
$2,580,000 $516,000 $825,600 $495,360
$0 $0 $0 $0
$285,000 $14,250 $27,075 $24,368
$0 $0 $0 $0
$0 $0 $0 $0
$525,000 $17,483 $35,018 $35,018
$157,479 $3,937 $7,874 $7,874
$0 $0 $0 $0
$3,694,957 $3,694,957 $0 $0
$147,479
$7,389,914 OK
$470,000 $0 $0 $0
0 0 0
$0 $0 $0
$470,000 $0 $0 $0
0 0 0
$0 $0 $0
$4,246,627 $895,566 $562,619
$0 $3,594,282 $3,830,530
$3,594,282 $236,248 $0
$0 $0 ($103,639)
$3,594,282 $3,830,530 $3,726,892
$0 $0 $0
$0 $3,594,282 $3,830,530
$3,594,282 $236,248 $0
$0 $0 ($103,639)
$3,594,282 $3,830,530 $3,726,892
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0 $0
NPV
($3,081)
0
10
20
30
40
50
60
70
80
90
100
4 5 6 7 8 9
$0 $0 $0 $0 $0 $0
$507,523 $506,691 $505,507 $504,005 $502,220 $500,178
$507,523 $506,691 $505,507 $504,005 $502,220 $500,178
-24.1% -15.0% -8.7% -4.3% -1.0% 1.4%
4 5 6 7 8 9
$0 $0 $0 $0 $0 $0
0 0 0 0 0 0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
0 0 0 0 0 0
$0 $0 $0 $0 $0 $0
$362,052 $359,858 $209,255 $59,706 $59,706 $59,735
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
NPV NPV
($3,081) ($3,081)
30.0 32.0
31.0 32.1
32.0 32.2
33.0 32.3
34.0 32.4
35.0 32.5
36.0 32.6
37.0 32.7
38.0 32.8
39.0 32.9
40.0 33.0
10 11 12 13 14 15
$0 $0 $0 $0 $0 $0
$544,908 $484,988 $482,328 $479,503 $476,530 $473,424
$544,908 $484,988 $482,328 $479,503 $476,530 $473,424
3.5% 4.9% 6.0% 6.9% 7.6% 8.2%
10 11 12 13 14 15
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$16,815 $16,844 $16,815 $16,844 $16,815 $16,844
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$35,018 $35,018 $34,965 $34,965 $34,965 $34,965
$7,874 $7,874 $7,874 $7,874 $7,874 $7,874
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$470,000 $0 $0 $0 $0 $0
1 2 3 4 5 6
$94,000 $150,400 $90,240 $54,144 $54,144 $27,072
$0 $0 $0 $0 $0 $0
0 0 0 0 0 0
$0 $0 $0 $0 $0 $0
$153,706 $210,135 $149,894 $113,826 $113,798 $86,754
$685,850 $124,315 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
($561,534) ($124,315) $0 $0 $0 $0
$124,315 $0 $0 $0 $0 $0
$685,850 $124,315 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
($561,534) ($124,315) $0 $0 $0 $0
$124,315 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$2,965
16 17 18 19 20 21
$0 $0 $0 $0 $0 $0
$470,199 $466,867 $463,440 $928,086 $813,356 $803,954
$470,199 $466,867 $463,440 $928,086 $813,356 $803,954
8.7% 9.1% 9.5% 10.1% 10.5% 10.8%
16 17 18 19 20 21
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$8,408 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$17,483 $0 $0 $0 $0 $0
$7,874 $7,874 $7,874 $7,874 $7,874 $3,937
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
7 8 9 10 11 12
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $470,000 $0
0 0 0 0 1 2
$0 $0 $0 $0 $94,000 $150,400
$33,764 $7,874 $7,874 $7,874 $101,874 $154,337
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$799,189 $794,370 $789,502 $784,075 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $51,339 $0 $0
$0 $0 $0 $0 $0 $0
$799,189 $794,370 $789,502 $835,415 $0 $0
$0 $0 $0 $0 $0 $0
$799,189 $794,370 $789,502 $835,415 $0 $0
$799,189 $794,370 $789,502 $835,415 $0 $0
11.1% 11.3% 11.5% 11.6% 11.6% 11.6%
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
- - - - - -
- - - - - -
$0 $0 $0 $0 $0 $0
- - - - - -
22 23 24 25 26 27
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
13 14 15 16 17 18
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
3 4 5 6 7 8
$90,240 $54,144 $54,144 $27,072 $0 $0
$90,240 $54,144 $54,144 $27,072 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
0.00 0.00 0.00
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
11.6% 11.6% 11.6%
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
12.0% 12.0% 12.0%
$0 $0 $0
$0 $0 $0
$0 $0 $0
- - -
- - -
$0 $0 $0
- - -
28 29 30
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
19 20 21
$0 $0 $0
$0 $0 $0
9 10 11
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
Complex Inputs for Deriving Total Project Capital Cost, if applicable
Sample inputs provided on this tab are illustrative only, all inputs must be pro
Generation Equipment $
Solar Panels $3,500,000
Transportation/Delivery $500,000
Mounting Hardware $800,000
Installation Labor $200,000
Inverters $1,000,000
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Total Generation Equipment Cost $6,000,000
Balance of Plant $
Site Survey & Preparation $175,000
Balance of Facility / Electrical Collection System $2,150,000
Maintenance Building $0
Access Roads $100,000
Spare Parts $25,000
Commissioning $50,000
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Total Balance of Plant Cost $2,500,000
Interconnection $
Substation $200,000
Transformer $50,000
Metering $25,000
Utility System Improvements $0
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Total Interconnection Cost $275,000
Click Here to Return to Inputs Worksheet
Cost Category $
Taxable Entity? (turns on/off ITC and depreciation input cells) Yes
Project Year
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
* Includes energy, capacity &
RECs
pplicable
inputs must be provided and validated by the user.
% Eligible for
Depreciation Classification
ITC
100% 5-year MACRS
100% 5-year MACRS
100% 5-year MACRS
100% 15-year SL
100% 5-year MACRS
100% 5-year MACRS
100% 5-year MACRS
100% 5-year MACRS
100% 5-year MACRS
100% 5-year MACRS
100% 5-year MACRS
100% 5-year MACRS
100% 5-year MACRS
100% 5-year MACRS
100% 5-year MACRS
100% 5-year MACRS
100% 5-year MACRS
100% 5-year MACRS
100% 5-year MACRS
100% 5-year MACRS
100%
% Eligible for
Depreciation Classification
ITC
100% 20-year SL
100% 5-year MACRS
0% 20-year SL
100% 20-year SL
100% 5-year MACRS
100% 5-year MACRS
100% 5-year MACRS
100% 5-year MACRS
100% 5-year MACRS
100% 5-year MACRS
100% 5-year MACRS
100% 5-year MACRS
100% 5-year MACRS
100% 5-year MACRS
100% 5-year MACRS
100% 5-year MACRS
100% 5-year MACRS
100% 5-year MACRS
100% 5-year MACRS
100% 5-year MACRS
100%
% Eligible for
Depreciation Classification
ITC
50% 20-year SL
50% 20-year SL
50% 20-year SL
50% 20-year SL
50% 20-year SL
50% 20-year SL
50% 20-year SL
50% 20-year SL
50% 20-year SL
50% 20-year SL
50% 20-year SL
50% 20-year SL
50% 20-year SL
50% 20-year SL
50% 20-year SL
50% 20-year SL
50% 20-year SL
50% 20-year SL
50% 20-year SL
50% 20-year SL
50%
% Eligible for
Depreciation Classification
ITC
100% 15-year SL
100% 20-year SL
100% 5-year MACRS
100% 5-year MACRS
100% 20-year SL
100% 5-year MACRS
100% 5-year MACRS
100% 5-year MACRS
100% 5-year MACRS
100% 5-year MACRS
100% 5-year MACRS
100% 5-year MACRS
100% 5-year MACRS
100% 5-year MACRS
100% 5-year MACRS
100% 5-year MACRS
100% 5-year MACRS
100% 5-year MACRS
100% 5-year MACRS
100% 5-year MACRS
100%
% Eligible for
Depreciation Classification
ITC
0% Non-Depreciable
0% 20-year SL
0% 20-year SL
0% Non-Depreciable
0%
Depreciation Allocation
$ Eligible for 5-year 7-year
Cost Category
ITC MACRS MACRS
Bundled*
Market Value of
Production
(/kWh)
5.00
5.10
5.20
5.31
5.41
5.52
5.63
5.74
5.86
5.98
6.09
6.22
6.34
6.47
6.60
6.73
6.86
7.00
7.14
7.28
7.43
7.58
7.73
7.88
8.04
8.20
8.37
8.53
8.71
8.88
des energy, capacity &
15-year MACRS 20-year MACRS 5-year SL
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
$0 $0 $0
Non-
15-year SL 20-year SL 39-year SL
Depreciable
$200,000 $0 $0 $0
$0 $275,000 $0 $0
$0 $275,000 $0 $0
$100,000 $30,000 $0 $0
$0 $125,688 $0 $343,657
$300,000 $705,688 $0 $343,657