Академический Документы
Профессиональный Документы
Культура Документы
spreadsheet model
Financers
(also project
developers,
regulators,
researchers)
What it does:
Models cashflow
and return on
investment
HOMER
Engineers
(also project
developers,
regulators,
researchers)
Optimizes component
selection to minimize
levelized cost of
energy (LCOE) in
hybrid minigrids
500
68%
2,978
882
KW
Mwh
47%
21%
12%
19%
Outputs
Project Returns
Project IRR
Equity IRR
Project NPV
Equity NPV
Revenues
Tsh /kwh US c/kwh
Tanesco
87%
360.0
24.0
Business
11%
360.0
24.0
Households & Inst.
3%
100.0
6.7
Average Tariff
355.8
23.7
Carbon Revenues
9.0
0.6
Operating Costs USD 000s TSH Mn
US c /kwh
Salaries
30
$45
1.01
Maintenance
31
$47
1.05
Fuel Costs
0
$0
0.00
Other
0
$0
0.00
Total
61.4
92.1
2.1
21.1%
38.4%
$1,436
$501
6.28
2.1
5.96
15.35
17.4
261
$/W
c/ kwh
Kwh / W
c/ kwh
c/ kwh
TSH / kwh
1
67%
0%
2
33%
67%
$4,047
3
0%
100%
4
0%
100%
14
15
Residual
Value*
30.7
$914
$124
$790
31.3
$932
$131
$801
31.9
$950
$139
$811
$157
$157
$157
$157
$513
$258
$255
$1,464
$513
$220
$293
$1,171
$513
$176
$337
$834
$513
$125
$388
$446
$513
$67
$446
$0
$0
$0
$0
$0
$106
$150
1.50
$121
$146
1.52
$137
$140
1.54
$156
$132
1.56
$176
$122
1.58
$0
$0
0.00
1.5
90%
5%
2.0%
6.0%
0.0
1,500
1
$2,093
$0
$628
$1,465
2
$1,046
$31
$314
$732
3
$0
$0
$0
$0
4
$0
$0
$0
$0
5
$0
$0
$0
$0
10
11
12
13
24.3
$0
$0
($2,093)
24.8
$492
$43
($597)
25.3
$753
$69
$684
25.8
$768
$73
$694
26.3
$783
$78
$705
26.8
$798
$82
$716
27.3
$813
$87
$726
27.8
$829
$92
$737
28.4
$846
$98
$748
28.9
$862
$104
$758
29.5
$879
$110
$769
30.1
$896
$117
$780
$0
$157
$157
$157
$157
$157
$157
$157
$157
$157
$157
Loan Payments
Interest
Principal
Loan Balance
$0
$0
$0
$1,465
$0
$220
($220)
$2,417
$0
$363
($363)
$2,780
$513
$417
$96
$2,684
$513
$403
$110
$2,574
$513
$386
$127
$2,447
$513
$367
$146
$2,301
$513
$345
$168
$2,133
$513
$320
$193
$1,941
$513
$291
$222
$1,719
Effective tax
Equity CF
DSCR
$0
($628)
0.00
$0
$135
0.00
$49
$635
0.00
$36
$146
1.35
$44
$149
1.38
$52
$151
1.40
$61
$153
1.42
$70
$154
1.44
$81
$154
1.46
$93
$153
1.48
Depreciation
38%
Capital Structure
Equity Share
Required returns
Loan Rate
Loan Grace Period
Loan Term
WACC***
Other Inputs
Construction Time
Collection Efficiency
Distribution losses
Tariff inflation
CPI
Terminal value
Exchange Rate
Years
30%
15%
15%
3
15
11.9%
Equity
REA grant
Loan
*** WACC = Equity share * ROE + Debt Share * Loan rate * (1- tax rate)
20
30%
0
Years
Years
Questions answered by
Simple project viability evaluation model
How does the financial viability of an off-grid or ongrid SPP project vary under diffent assumptions of
tariffs, subsidies, and carbon revenues, exchange
rates, etc.?
Internal Rate of Return (IRR)?
Project IRR
Equity IRR
Net Present Value (NPV)
Project NPV
Equity NPV
Does cash flow meet debt service requirements?
Model inputs
Input basic project data (yellow cells)
Plant Capacity: generation capacity of power plant in kW
Capacity factor: ratio of actual output to potential annual
output if it operated at nameplate capacity fulltime.
# Connections: is applicable to systems that sell electricity
to retail customers and receive REA grants of $500 per
hookup
Investment costs: costs to build project (generator, grid
connection, grid extension, etc.)
Operating costs: costs to keep project going (salaries,
mainteannce, fuel)
Model outputs
Operating cash flow: cash generated from sales, minus
cash paid out to cover operations costs
Depreciation: A reduction in the value of power plant with
the passage of time, due in particular to wear and tear
Loan payments: installments paid by the SPP to the lender
Loan balance: the amount owed, including principal and
interest;
Effective Tax: Tax paid divided by taxable income
Equity cash flow: Cash flow left over after depreciation,
loan payments, and taxes
Debt Service Coverage Ratio (DCSR): the amount of debt
that can be supported by the cash flow generated from
the project.
Thank you
For more information, please contact
chrisgreacen (at) gmail.com
Excel file used here available at:
www.palangthai.org/docs/SPP-SimpleProjectViabilityEvaluationModel.xlsx
Households: 150
location: Krabi, Southern, Thailand
coordinates: 7 32' 0" North, 99 8' 0" East
Load
8760 hours
Load
Resources: Solar
Resources: Wind
Diesel inputs
PV: inputs
Generator: inputs
Battery: inputs
Results
Search space
Results
Thank you
For more information, please contact
Chrisgreacen (at) gmail.com
HOMER file used here available at:
www.palangthai.org/docs/KohPo.hmr