From c1af3f09c4c26ae1525ce745d3300b8f6367bb82 Mon Sep 17 00:00:00 2001 From: softwareengineerprogrammer <4056124+softwareengineerprogrammer@users.noreply.github.com> Date: Tue, 19 May 2026 11:42:00 -0700 Subject: [PATCH 1/9] Calculate S-DAC carbon revenue (addresses https://github.com/NatLabRockies/GEOPHIRES-X/issues/341) --- src/geophires_x/Economics.py | 19 ++++ src/geophires_x/EconomicsS_DAC_GT.py | 90 +++++++++++----- src/geophires_x/OutputsS_DAC_GT.py | 19 ++-- tests/examples/S-DAC-GT.out | 156 +++++++++++++-------------- tests/examples/S-DAC-GT.txt | 1 + 5 files changed, 172 insertions(+), 113 deletions(-) diff --git a/src/geophires_x/Economics.py b/src/geophires_x/Economics.py index 071733c43..fd502b0b7 100644 --- a/src/geophires_x/Economics.py +++ b/src/geophires_x/Economics.py @@ -2901,6 +2901,18 @@ def Calculate(self, model: Model) -> None: if self.DoSDACGTCalculations.value: model.sdacgteconomics.Calculate(model) + # Consolidate S-DAC-GT CAPEX and OPEX into the main plant ledgers + max_carbon_capacity_tonnes = np.max(model.sdacgteconomics.CarbonExtractedAnnually.value) + sdac_overnight_capex_musd = ( + model.sdacgteconomics.CAPEX.value * model.sdacgteconomics.CAPEX_mult.value * max_carbon_capacity_tonnes) / 1_000_000.0 + self.CCap.value += sdac_overnight_capex_musd + + avg_carbon_extracted_tonnes = np.average(model.sdacgteconomics.CarbonExtractedAnnually.value) + sdac_annual_opex_musd = (( + model.sdacgteconomics.OPEX.value + model.sdacgteconomics.storage.value + model.sdacgteconomics.transport.value) + * avg_carbon_extracted_tonnes) / 1_000_000.0 + self.Coam.value += sdac_annual_opex_musd + self.calculate_cashflow(model) # Calculate more financial values using numpy financials @@ -3723,6 +3735,13 @@ def calculate_cashflow(self, model: Model) -> None: self.TotalRevenue.value[i] = self.TotalRevenue.value[i] + self.CarbonRevenue.value[i] #self.TotalCummRevenue.value[i] = self.TotalCummRevenue.value[i] + self.CarbonCummCashFlow.value[i] + if self.DoSDACGTCalculations.value: + for i in range(model.surfaceplant.construction_years.value, + model.surfaceplant.plant_lifetime.value + model.surfaceplant.construction_years.value, + 1): + sdac_index = i - model.surfaceplant.construction_years.value + self.TotalRevenue.value[i] += (model.sdacgteconomics.CarbonRevenue.value[sdac_index] / 1_000_000.0) + # for the sake of display, insert zeros at the beginning of the pricing arrays for i in range(0, model.surfaceplant.construction_years.value, 1): self.ElecPrice.value.insert(0, 0.0) diff --git a/src/geophires_x/EconomicsS_DAC_GT.py b/src/geophires_x/EconomicsS_DAC_GT.py index 78cf9a5c1..85abd9c66 100644 --- a/src/geophires_x/EconomicsS_DAC_GT.py +++ b/src/geophires_x/EconomicsS_DAC_GT.py @@ -219,6 +219,19 @@ def __init__(self, model: Model): ErrMessage="assume default Percent Energy Devoted To Process (50%)", ToolTipText="Percent Energy Devoted To Process (%)" ) + self.carbon_credit_price = floatParameter( + "S-DAC-GT Carbon Credit Price", + value=180.0, + DefaultValue=180.0, + Min=0.0, + Max=1000.0, + UnitType=Units.COSTPERMASS, + PreferredUnits=CostPerMassUnit.DOLLARSPERTONNE, + CurrentUnits=CostPerMassUnit.DOLLARSPERTONNE, + ErrMessage="assume default Carbon Credit Price (180 USD per tonne CO2)", + ToolTipText="Carbon Credit or Market Price (USD per tonne CO2)" + ) + self.ParameterDict[self.carbon_credit_price.Name] = self.carbon_credit_price # local variable initiation # Capital Recovery Rate or Fixed Charge Factor - set initially for definitions @@ -335,6 +348,21 @@ def __init__(self, model: Model): PreferredUnits=CostPerMassUnit.DOLLARSPERTONNE, CurrentUnits=CostPerMassUnit.DOLLARSPERTONNE ) + self.CarbonRevenue = OutputParameter( + Name="Annual Carbon Revenue", + UnitType=Units.CURRENCYFREQUENCY, + PreferredUnits=CurrencyFrequencyUnit.DOLLARSPERYEAR, + CurrentUnits=CurrencyFrequencyUnit.DOLLARSPERYEAR + ) + self.OutputParameterDict[self.CarbonRevenue.Name] = self.CarbonRevenue + + self.CarbonCummCashFlow = OutputParameter( + Name="Cumulative Carbon Revenue", + UnitType=Units.CURRENCY, + PreferredUnits=CurrencyUnit.DOLLARS, + CurrentUnits=CurrencyUnit.DOLLARS + ) + self.OutputParameterDict[self.CarbonCummCashFlow.Name] = self.CarbonCummCashFlow model.logger.info(f"Complete {str(__class__)}: {sys._getframe().f_code.co_name}") @@ -599,12 +627,13 @@ def Calculate(self, model: Model) -> None: # Convert from $/McF to $/kWh_th, but don't change any parameters value directly - it will throw off the rehydration NG_price = self.NG_price.value / self.NG_EnergyDensity.value NG_totalcost = self.therm.value * NG_price - self.LCOH.value, self.kWh_e_per_kWh_th.value = self.geo_therm_cost(model.surfaceplant.electricity_cost_to_buy.value, - self.CAPEX_mult.value, self.OPEX_mult.value, - model.reserv.depth.value * 3280.84, - np.average(model.wellbores.ProducedTemperature.value), - model.wellbores.Tinj.value, - model.wellbores.nprod.value * model.wellbores.prodwellflowrate.value) + self.LCOH.value, self.kWh_e_per_kWh_th.value = self.geo_therm_cost( + model.surfaceplant.electricity_cost_to_buy.value, + self.CAPEX_mult.value, self.OPEX_mult.value, + model.reserv.depth.value * 3280.84, + np.average(model.wellbores.ProducedTemperature.value), + model.wellbores.Tinj.value, + model.wellbores.nprod.value * model.wellbores.prodwellflowrate.value) geothermal_totalcost = self.LCOH.value * self.therm.value co2_power = self.elec.value / 1000 * self.power_co2intensity.value co2_elec_heat = self.therm.value / 1000 * self.power_co2intensity.value @@ -621,7 +650,8 @@ def Calculate(self, model: Model) -> None: # calculate the net impact of S-DAC-GT on the annual production of the model avg_first_law_eff = np.average(model.surfaceplant.FirstLawEfficiency.value) - self.tot_heat_energy_consumed_per_tonne.value = (self.elec.value / avg_first_law_eff) + self.therm.value # kWh_th/tonne + self.tot_heat_energy_consumed_per_tonne.value = ( + self.elec.value / avg_first_law_eff) + self.therm.value # kWh_th/tonne self.tot_cost_per_tonne.value = CAPEX + self.OPEX.value + self.storage.value + self.transport.value # USD/tonne self.percent_thermal_energy_going_to_heat.value = self.therm.value / self.tot_heat_energy_consumed_per_tonne.value @@ -637,18 +667,22 @@ def Calculate(self, model: Model) -> None: # That then gives us the revenue, since we have a carbon price model # We can also get annual cash flow from it. for i in range(0, model.surfaceplant.plant_lifetime.value, 1): - self.CarbonExtractedAnnually.value[i] = (self.EnergySplit.value * model.surfaceplant.HeatkWhExtracted.value[i]) / self.tot_heat_energy_consumed_per_tonne.value + self.CarbonExtractedAnnually.value[i] = (self.EnergySplit.value * model.surfaceplant.HeatkWhExtracted.value[ + i]) / self.tot_heat_energy_consumed_per_tonne.value if i == 0: self.S_DAC_GTCummCarbonExtracted.value[i] = self.CarbonExtractedAnnually.value[i] else: - self.S_DAC_GTCummCarbonExtracted.value[i] = self.S_DAC_GTCummCarbonExtracted.value[i - 1] + self.CarbonExtractedAnnually.value[i] + self.S_DAC_GTCummCarbonExtracted.value[i] = self.S_DAC_GTCummCarbonExtracted.value[i - 1] + \ + self.CarbonExtractedAnnually.value[i] self.CarbonExtractedTotal.value = self.CarbonExtractedTotal.value + self.CarbonExtractedAnnually.value[i] self.S_DAC_GTAnnualCost.value[i] = self.CarbonExtractedAnnually.value[i] * self.tot_cost_per_tonne.value if i == 0: self.S_DAC_GTCummCashFlow.value[i] = self.S_DAC_GTAnnualCost.value[i] else: - self.S_DAC_GTCummCashFlow.value[i] = self.S_DAC_GTCummCashFlow.value[i - 1] + self.S_DAC_GTAnnualCost.value[i] - self.CummCostPerTonne.value[i] = self.S_DAC_GTCummCashFlow.value[i] / self.S_DAC_GTCummCarbonExtracted.value[i] + self.S_DAC_GTCummCashFlow.value[i] = self.S_DAC_GTCummCashFlow.value[i - 1] + \ + self.S_DAC_GTAnnualCost.value[i] + self.CummCostPerTonne.value[i] = self.S_DAC_GTCummCashFlow.value[i] / \ + self.S_DAC_GTCummCarbonExtracted.value[i] # We need to update the heat and electricity generated because we have consumed # some (all) of it to do the capture, so when they get used in the final economic calculation (below), @@ -657,28 +691,28 @@ def Calculate(self, model: Model) -> None: if model.surfaceplant.enduse_option.value is not EndUseOptions.HEAT: # all these end-use options have an electricity generation component model.surfaceplant.TotalkWhProduced.value[i] = model.surfaceplant.TotalkWhProduced.value[i] - ( - self.CarbonExtractedAnnually.value[i] * self.elec.value) + self.CarbonExtractedAnnually.value[i] * self.elec.value) model.surfaceplant.NetkWhProduced.value[i] = model.surfaceplant.NetkWhProduced.value[i] - ( - self.CarbonExtractedAnnually.value[i] * self.elec.value) + self.CarbonExtractedAnnually.value[i] * self.elec.value) if model.surfaceplant.enduse_option.value is not EndUseOptions.ELECTRICITY: model.surfaceplant.HeatkWhProduced.value[i] = model.surfaceplant.HeatkWhProduced.value[i] - ( - self.CarbonExtractedAnnually.value[i] * self.therm.value) + self.CarbonExtractedAnnually.value[i] * self.therm.value) else: # all the end-use option of direct-use only component model.surfaceplant.HeatkWhProduced.value[i] = (model.surfaceplant.HeatkWhProduced.value[i] - - (self.CarbonExtractedAnnually.value[i] * self.therm.value)) - - # FIXME TODO https://github.com/NREL/GEOPHIRES-X/issues/341?title=S-DAC+does+not+calculate+carbon+revenue - # Build a revenue generation model for the carbon capture, assuming the capture is being sequestered and that - # there is some sort of credit involved for doing that sequestering - # note that there may already be values in the CarbonRevenue array, so we need to - # add to them, not just set them. If there isn't values, there, the array will be filed with zeros, so adding won't be a problem - #total_duration = model.surfaceplant.plant_lifetime.value - #for i in range(0, total_duration, 1): - # model.sdacgteconomics.CarbonRevenue.value[i] = (model.sdacgteconomics.CarbonRevenue.value[i] + - # (self.CarbonExtractedAnnually.value[i] * model.economics.CarbonPrice.value[i])) - # if i > 0: - # model.economics.CarbonCummCashFlow.value[i] = model.economics.CarbonCummCashFlow.value[i - 1] + model.economics.CarbonRevenue.value[i] + (self.CarbonExtractedAnnually.value[ + i] * self.therm.value)) + + # Calculate Carbon Revenue based on S-DAC-GT specific credit price + self.CarbonRevenue.value = [0.0] * model.surfaceplant.plant_lifetime.value + self.CarbonCummCashFlow.value = [0.0] * model.surfaceplant.plant_lifetime.value + + for i in range(0, model.surfaceplant.plant_lifetime.value, 1): + self.CarbonRevenue.value[i] = self.CarbonExtractedAnnually.value[i] * self.carbon_credit_price.value + if i == 0: + self.CarbonCummCashFlow.value[i] = self.CarbonRevenue.value[i] + else: + self.CarbonCummCashFlow.value[i] = self.CarbonCummCashFlow.value[i - 1] + self.CarbonRevenue.value[i] self._calculate_derived_outputs(model) - model.logger.info(f'Complete {str(__class__)}: {sys._getframe().f_code.co_name}') + model.logger.info(f'Complete {str(__class__)}: {sys._getframe().f_code.co_name}') \ No newline at end of file diff --git a/src/geophires_x/OutputsS_DAC_GT.py b/src/geophires_x/OutputsS_DAC_GT.py index ba2838587..65ab024f1 100644 --- a/src/geophires_x/OutputsS_DAC_GT.py +++ b/src/geophires_x/OutputsS_DAC_GT.py @@ -81,21 +81,26 @@ def PrintOutputs(self, model) -> tuple: model.sdacgteconomics.S_DAC_GTCummCashFlow.value sdac_df[f'Cum. Cost Per Tonne ({model.sdacgteconomics.CummCostPerTonne.PreferredUnits.value})|:,.2f'] = \ model.sdacgteconomics.CummCostPerTonne.value + sdac_df[f'Carbon Revenue ({model.sdacgteconomics.CarbonRevenue.PreferredUnits.value})|:,.2f'] = \ + model.sdacgteconomics.CarbonRevenue.value + sdac_df[f'Cum. Carbon Revenue ({model.sdacgteconomics.CarbonCummCashFlow.PreferredUnits.value})|:,.2f'] = \ + model.sdacgteconomics.CarbonCummCashFlow.value f.write(NL) f.write(" **********************" + NL) - f.write(" * S-DAC-GT PROFILE *" + NL) + f.write(" * S-DAC-GT PROFILE *" + NL) f.write(" **********************" + NL) - f.write("Year Carbon Cumm. Carbon S-DAC-GT S-DAC-GT Cumm. Cumm. Cost" + NL) - f.write("Since Captured Captured Annual Cost Cash Flow Cost Per Tonne" + NL) + f.write("Year Carbon Cumm. Carbon S-DAC-GT S-DAC-GT Cumm. Cumm. Cost Annual Carbon" + NL) + f.write("Since Captured Captured Annual Cost Cash Flow Cost Per Tonne Revenue" + NL) f.write("Start ("+model.sdacgteconomics.CarbonExtractedAnnually.PreferredUnits.value + ") ("+model.sdacgteconomics.S_DAC_GTCummCarbonExtracted.PreferredUnits.value + ") ("+model.sdacgteconomics.S_DAC_GTAnnualCost.PreferredUnits.value + ") ("+model.sdacgteconomics.S_DAC_GTCummCashFlow.PreferredUnits.value + - ") ("+model.sdacgteconomics.CummCostPerTonne.PreferredUnits.value + ")" +NL) + ") ("+model.sdacgteconomics.CummCostPerTonne.PreferredUnits.value + + ") (" + model.sdacgteconomics.CarbonRevenue.PreferredUnits.value + ")" + NL) i = 0 for i in range(0, model.surfaceplant.plant_lifetime.value, 1): - f.write(f" {i+1:3.0f} {model.sdacgteconomics.CarbonExtractedAnnually.value[i]:,.2f} {model.sdacgteconomics.S_DAC_GTCummCarbonExtracted.value[i]:,.2f} {model.sdacgteconomics.S_DAC_GTAnnualCost.value[i]:,.2f} {model.sdacgteconomics.S_DAC_GTCummCashFlow.value[i]:,.2f} {model.sdacgteconomics.CummCostPerTonne.value[i]:.2f}" + NL) + f.write(f" {i+1:3.0f} {model.sdacgteconomics.CarbonExtractedAnnually.value[i]:,.2f} {model.sdacgteconomics.S_DAC_GTCummCarbonExtracted.value[i]:,.2f} {model.sdacgteconomics.S_DAC_GTAnnualCost.value[i]:,.2f} {model.sdacgteconomics.S_DAC_GTCummCashFlow.value[i]:,.2f} {model.sdacgteconomics.CummCostPerTonne.value[i]:.2f} {model.sdacgteconomics.CarbonRevenue.value[i]:,.2f}" + NL) i = i + 1 except BaseException as ex: @@ -106,9 +111,9 @@ def PrintOutputs(self, model) -> tuple: print(msg) model.logger.critical(str(ex)) model.logger.critical(msg) - raise RuntimeError(msg, e) + raise RuntimeError(msg, ex) model.logger.info(f'Complete {str(__class__)}: {__name__}') sdac_df = sdac_df.reset_index() - return sdac_df, sdac_results + return sdac_df, sdac_results \ No newline at end of file diff --git a/tests/examples/S-DAC-GT.out b/tests/examples/S-DAC-GT.out index 75170830c..81e4761b0 100644 --- a/tests/examples/S-DAC-GT.out +++ b/tests/examples/S-DAC-GT.out @@ -4,18 +4,18 @@ Simulation Metadata ---------------------- - GEOPHIRES Version: 3.12.1 - Simulation Date: 2026-04-07 - Simulation Time: 10:46 - Calculation Time: 0.135 sec + GEOPHIRES Version: 3.13.8 + Simulation Date: 2026-05-19 + Simulation Time: 11:37 + Calculation Time: 0.140 sec ***SUMMARY OF RESULTS*** End-Use Option: Cogeneration Topping Cycle, Heat sales considered as extra income Average Net Electricity Production: 19.62 MW Average Direct-Use Heat Production: 13.19 MW - Electricity breakeven price: 10.68 cents/kWh - Direct-Use heat breakeven price (LCOH): -56.08 USD/MMBTU + Electricity breakeven price: 24.39 cents/kWh + Direct-Use heat breakeven price (LCOH): -128.08 USD/MMBTU Number of production wells: 3 Number of injection wells: 3 Flowrate per production well: 70.0 kg/sec @@ -29,11 +29,11 @@ Simulation Metadata Accrued financing during construction: 0.00 % Project lifetime: 30 yr Capacity factor: 90.0 % - Project NPV: -82.17 MUSD - Project IRR: -5.86 % - Project VIR=PI=PIR: 0.20 - Project MOIC: -0.30 - Project Payback Period: N/A + Project NPV: -89.80 MUSD + Project IRR: 1.99 % + Project VIR=PI=PIR: 0.57 + Project MOIC: 0.14 + Project Payback Period: 22.52 yr CHP: Percent cost allocation for electrical plant: 92.25 % ***ENGINEERING PARAMETERS*** @@ -99,7 +99,7 @@ Simulation Metadata of which Heat Plant Cost: 5.03 MUSD Field gathering system costs: 3.16 MUSD Total surface equipment costs: 68.06 MUSD - Total capital costs: 102.56 MUSD + Total capital costs: 210.58 MUSD ***OPERATING AND MAINTENANCE COSTS (M$/yr)*** @@ -107,7 +107,7 @@ Simulation Metadata Wellfield maintenance costs: 0.74 MUSD/yr Power plant maintenance costs: 2.34 MUSD/yr Water costs: 0.11 MUSD/yr - Total operating and maintenance costs: 3.19 MUSD/yr + Total operating and maintenance costs: 8.90 MUSD/yr ***SURFACE EQUIPMENT SIMULATION RESULTS*** @@ -214,37 +214,37 @@ Year Electricity | Heat | Since Price Ann. Rev. Cumm. Rev. | Price Ann. Rev. Cumm. Rev. | Price Ann. Rev. Cumm. Rev. | Price Ann. Rev. Cumm. Rev. | OPEX Net Rev. Net Cashflow Start (cents/kWh)(MUSD/yr) (MUSD) |(cents/kWh) (MUSD/yr) (MUSD) |(cents/kWh) (MUSD/yr) (MUSD) |(USD/lb) (MUSD/yr) (MUSD) |(MUSD/yr) (MUSD/yr) (MUSD) ________________________________________________________________________________________________________________________________________________________________________________________ - 0 0.00 0.00 0.00 | 0.00 0.00 0.00 | 0.00 0.00 0.00 | 0.00 0.00 0.00 | 0.00 -102.56 -102.56 - 1 5.50 5.15 5.15 | 2.50 -0.06 -0.06 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 3.19 1.90 -100.66 - 2 5.50 5.15 10.30 | 2.50 -0.06 -0.13 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 3.19 1.90 -98.77 - 3 5.50 5.15 15.45 | 2.50 -0.06 -0.19 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 3.19 1.90 -96.87 - 4 5.50 5.15 20.60 | 2.50 -0.06 -0.25 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 3.19 1.90 -94.97 - 5 5.50 5.15 25.74 | 2.50 -0.06 -0.32 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 3.19 1.89 -93.08 - 6 5.50 5.15 30.89 | 2.50 -0.06 -0.38 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 3.19 1.89 -91.19 - 7 5.50 5.14 36.03 | 2.50 -0.06 -0.45 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 3.19 1.88 -89.30 - 8 5.50 5.13 41.16 | 2.50 -0.07 -0.51 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 3.19 1.87 -87.43 - 9 5.50 5.11 46.26 | 2.50 -0.07 -0.58 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 3.19 1.85 -85.58 - 10 5.50 5.08 51.35 | 2.50 -0.07 -0.65 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 3.19 1.82 -83.76 - 11 5.50 5.05 56.40 | 2.50 -0.07 -0.72 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 3.19 1.79 -81.97 - 12 5.50 5.01 61.41 | 2.50 -0.08 -0.80 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 3.19 1.74 -80.22 - 13 5.50 4.97 66.38 | 2.50 -0.08 -0.89 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 3.19 1.69 -78.53 - 14 5.50 4.92 71.29 | 2.50 -0.09 -0.97 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 3.19 1.64 -76.89 - 15 5.50 4.86 76.16 | 2.50 -0.09 -1.07 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 3.19 1.58 -75.31 - 16 5.50 4.81 80.96 | 2.50 -0.10 -1.17 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 3.19 1.52 -73.80 - 17 5.50 4.75 85.71 | 2.50 -0.11 -1.28 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 3.19 1.45 -72.35 - 18 5.50 4.68 90.40 | 2.50 -0.12 -1.40 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 3.19 1.38 -70.97 - 19 5.50 4.62 95.02 | 2.50 -0.13 -1.52 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 3.19 1.31 -69.66 - 20 5.50 4.56 99.57 | 2.50 -0.13 -1.66 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 3.19 1.23 -68.43 - 21 5.50 4.49 104.06 | 2.50 -0.14 -1.80 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 3.19 1.16 -67.27 - 22 5.50 4.43 108.49 | 2.50 -0.15 -1.96 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 3.19 1.08 -66.19 - 23 5.50 4.36 112.85 | 2.50 -0.16 -2.12 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 3.19 1.01 -65.18 - 24 5.50 4.30 117.15 | 2.50 -0.17 -2.29 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 3.19 0.93 -64.25 - 25 5.50 4.23 121.38 | 2.50 -0.18 -2.48 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 3.19 0.86 -63.40 - 26 5.50 4.17 125.54 | 2.50 -0.20 -2.67 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 3.19 0.78 -62.61 - 27 5.50 4.10 129.65 | 2.50 -0.21 -2.88 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 3.19 0.71 -61.91 - 28 5.50 4.04 133.69 | 2.50 -0.22 -3.10 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 3.19 0.63 -61.27 - 29 5.50 3.98 137.67 | 2.50 -0.23 -3.33 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 3.19 0.56 -60.71 - 30 5.50 3.92 141.59 | 2.50 -0.24 -3.57 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 3.19 0.49 -60.22 + 0 0.00 0.00 0.00 | 0.00 0.00 0.00 | 0.00 0.00 0.00 | 0.00 0.00 0.00 | 0.00 -210.58 -210.58 + 1 5.50 5.15 5.15 | 2.50 -0.06 -0.06 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 8.90 10.29 -200.29 + 2 5.50 5.15 10.30 | 2.50 -0.06 -0.13 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 8.90 10.29 -190.00 + 3 5.50 5.15 15.45 | 2.50 -0.06 -0.19 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 8.90 10.29 -179.71 + 4 5.50 5.15 20.60 | 2.50 -0.06 -0.25 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 8.90 10.29 -169.43 + 5 5.50 5.15 25.74 | 2.50 -0.06 -0.32 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 8.90 10.29 -159.14 + 6 5.50 5.15 30.89 | 2.50 -0.06 -0.38 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 8.90 10.28 -148.86 + 7 5.50 5.14 36.03 | 2.50 -0.06 -0.45 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 8.90 10.26 -138.60 + 8 5.50 5.13 41.16 | 2.50 -0.07 -0.51 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 8.90 10.24 -128.36 + 9 5.50 5.11 46.26 | 2.50 -0.07 -0.58 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 8.90 10.19 -118.17 + 10 5.50 5.08 51.35 | 2.50 -0.07 -0.65 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 8.90 10.13 -108.04 + 11 5.50 5.05 56.40 | 2.50 -0.07 -0.72 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 8.90 10.05 -97.99 + 12 5.50 5.01 61.41 | 2.50 -0.08 -0.80 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 8.90 9.96 -88.03 + 13 5.50 4.97 66.38 | 2.50 -0.08 -0.89 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 8.90 9.85 -78.18 + 14 5.50 4.92 71.29 | 2.50 -0.09 -0.97 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 8.90 9.73 -68.45 + 15 5.50 4.86 76.16 | 2.50 -0.09 -1.07 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 8.90 9.60 -58.85 + 16 5.50 4.81 80.96 | 2.50 -0.10 -1.17 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 8.90 9.46 -49.39 + 17 5.50 4.75 85.71 | 2.50 -0.11 -1.28 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 8.90 9.31 -40.08 + 18 5.50 4.68 90.40 | 2.50 -0.12 -1.40 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 8.90 9.16 -30.93 + 19 5.50 4.62 95.02 | 2.50 -0.13 -1.52 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 8.90 9.00 -21.93 + 20 5.50 4.56 99.57 | 2.50 -0.13 -1.66 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 8.90 8.84 -13.09 + 21 5.50 4.49 104.06 | 2.50 -0.14 -1.80 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 8.90 8.67 -4.42 + 22 5.50 4.43 108.49 | 2.50 -0.15 -1.96 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 8.90 8.50 4.08 + 23 5.50 4.36 112.85 | 2.50 -0.16 -2.12 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 8.90 8.34 12.42 + 24 5.50 4.30 117.15 | 2.50 -0.17 -2.29 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 8.90 8.17 20.58 + 25 5.50 4.23 121.38 | 2.50 -0.18 -2.48 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 8.90 8.00 28.58 + 26 5.50 4.17 125.54 | 2.50 -0.20 -2.67 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 8.90 7.83 36.42 + 27 5.50 4.10 129.65 | 2.50 -0.21 -2.88 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 8.90 7.66 44.08 + 28 5.50 4.04 133.69 | 2.50 -0.22 -3.10 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 8.90 7.50 51.58 + 29 5.50 3.98 137.67 | 2.50 -0.23 -3.33 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 8.90 7.33 58.91 + 30 5.50 3.92 141.59 | 2.50 -0.24 -3.57 | 2.50 0.00 0.00 | 0.00 0.00 0.00 | 8.90 7.18 66.09 @@ -270,38 +270,38 @@ ________________________________________________________________________________ ********************** - * S-DAC-GT PROFILE * + * S-DAC-GT PROFILE * ********************** -Year Carbon Cumm. Carbon S-DAC-GT S-DAC-GT Cumm. Cumm. Cost -Since Captured Captured Annual Cost Cash Flow Cost Per Tonne -Start (tonne/yr) (tonne) (USD/yr) (USD) (USD/tonne) - 1 78,330.80 78,330.80 17,411,627.98 17,411,627.98 222.28 - 2 78,330.80 156,661.61 17,411,627.98 34,823,255.96 222.28 - 3 78,330.79 234,992.39 17,411,624.49 52,234,880.45 222.28 - 4 78,330.21 313,322.60 17,411,495.60 69,646,376.05 222.28 - 5 78,325.28 391,647.88 17,410,399.97 87,056,776.02 222.28 - 6 78,306.33 469,954.20 17,406,187.21 104,462,963.23 222.28 - 7 78,260.16 548,214.36 17,395,925.55 121,858,888.78 222.28 - 8 78,174.81 626,389.18 17,376,954.53 139,235,843.31 222.28 - 9 78,042.38 704,431.56 17,347,515.71 156,583,359.02 222.28 - 10 77,859.43 782,290.99 17,306,849.76 173,890,208.78 222.28 - 11 77,626.22 859,917.21 17,255,012.02 191,145,220.80 222.28 - 12 77,345.52 937,262.73 17,192,616.14 208,337,836.94 222.28 - 13 77,021.56 1,014,284.29 17,120,605.40 225,458,442.34 222.28 - 14 76,659.30 1,090,943.59 17,040,081.18 242,498,523.53 222.28 - 15 76,263.89 1,167,207.48 16,952,186.81 259,450,710.33 222.28 - 16 75,840.32 1,243,047.80 16,858,034.91 276,308,745.24 222.28 - 17 75,393.28 1,318,441.08 16,758,665.93 293,067,411.17 222.28 - 18 74,927.04 1,393,368.11 16,655,027.43 309,722,438.60 222.28 - 19 74,445.39 1,467,813.51 16,547,966.62 326,270,405.23 222.28 - 20 73,951.72 1,541,765.22 16,438,231.02 342,708,636.25 222.28 - 21 73,448.95 1,615,214.17 16,326,473.66 359,035,109.91 222.28 - 22 72,939.63 1,688,153.81 16,213,260.66 375,248,370.57 222.28 - 23 72,425.96 1,760,579.76 16,099,079.76 391,347,450.33 222.28 - 24 71,909.81 1,832,489.57 15,984,349.02 407,331,799.35 222.28 - 25 71,392.80 1,903,882.37 15,869,425.07 423,201,224.42 222.28 - 26 70,876.27 1,974,758.64 15,754,610.85 438,955,835.27 222.28 - 27 70,361.40 2,045,120.04 15,640,162.58 454,595,997.86 222.28 - 28 69,849.14 2,114,969.18 15,526,295.96 470,122,293.82 222.28 - 29 69,340.31 2,184,309.49 15,413,191.67 485,535,485.49 222.28 - 30 68,860.68 2,253,170.17 15,306,577.89 500,842,063.38 222.28 +Year Carbon Cumm. Carbon S-DAC-GT S-DAC-GT Cumm. Cumm. Cost Annual Carbon +Since Captured Captured Annual Cost Cash Flow Cost Per Tonne Revenue +Start (tonne/yr) (tonne) (USD/yr) (USD) (USD/tonne) (USD/yr) + 1 78,330.80 78,330.80 17,411,627.98 17,411,627.98 222.28 14,099,544.46 + 2 78,330.80 156,661.61 17,411,627.98 34,823,255.96 222.28 14,099,544.46 + 3 78,330.79 234,992.39 17,411,624.49 52,234,880.45 222.28 14,099,541.64 + 4 78,330.21 313,322.60 17,411,495.60 69,646,376.05 222.28 14,099,437.26 + 5 78,325.28 391,647.88 17,410,399.97 87,056,776.02 222.28 14,098,550.05 + 6 78,306.33 469,954.20 17,406,187.21 104,462,963.23 222.28 14,095,138.65 + 7 78,260.16 548,214.36 17,395,925.55 121,858,888.78 222.28 14,086,828.98 + 8 78,174.81 626,389.18 17,376,954.53 139,235,843.31 222.28 14,071,466.68 + 9 78,042.38 704,431.56 17,347,515.71 156,583,359.02 222.28 14,047,627.79 + 10 77,859.43 782,290.99 17,306,849.76 173,890,208.78 222.28 14,014,697.42 + 11 77,626.22 859,917.21 17,255,012.02 191,145,220.80 222.28 13,972,720.38 + 12 77,345.52 937,262.73 17,192,616.14 208,337,836.94 222.28 13,922,193.60 + 13 77,021.56 1,014,284.29 17,120,605.40 225,458,442.34 222.28 13,863,880.93 + 14 76,659.30 1,090,943.59 17,040,081.18 242,498,523.53 222.28 13,798,674.23 + 15 76,263.89 1,167,207.48 16,952,186.81 259,450,710.33 222.28 13,727,499.34 + 16 75,840.32 1,243,047.80 16,858,034.91 276,308,745.24 222.28 13,651,257.25 + 17 75,393.28 1,318,441.08 16,758,665.93 293,067,411.17 222.28 13,570,790.49 + 18 74,927.04 1,393,368.11 16,655,027.43 309,722,438.60 222.28 13,486,866.37 + 19 74,445.39 1,467,813.51 16,547,966.62 326,270,405.23 222.28 13,400,170.93 + 20 73,951.72 1,541,765.22 16,438,231.02 342,708,636.25 222.28 13,311,309.51 + 21 73,448.95 1,615,214.17 16,326,473.66 359,035,109.91 222.28 13,220,810.92 + 22 72,939.63 1,688,153.81 16,213,260.66 375,248,370.57 222.28 13,129,133.58 + 23 72,425.96 1,760,579.76 16,099,079.76 391,347,450.33 222.28 13,036,672.46 + 24 71,909.81 1,832,489.57 15,984,349.02 407,331,799.35 222.28 12,943,766.08 + 25 71,392.80 1,903,882.37 15,869,425.07 423,201,224.42 222.28 12,850,703.25 + 26 70,876.27 1,974,758.64 15,754,610.85 438,955,835.27 222.28 12,757,729.29 + 27 70,361.40 2,045,120.04 15,640,162.58 454,595,997.86 222.28 12,665,051.65 + 28 69,849.14 2,114,969.18 15,526,295.96 470,122,293.82 222.28 12,572,845.02 + 29 69,340.31 2,184,309.49 15,413,191.67 485,535,485.49 222.28 12,481,255.72 + 30 68,860.68 2,253,170.17 15,306,577.89 500,842,063.38 222.28 12,394,922.28 diff --git a/tests/examples/S-DAC-GT.txt b/tests/examples/S-DAC-GT.txt index 9cf16ec8a..8c5892694 100644 --- a/tests/examples/S-DAC-GT.txt +++ b/tests/examples/S-DAC-GT.txt @@ -43,6 +43,7 @@ Economic Model,3, ---BICYCLE Levelized Cost Model Inflated Equity Interest Rate,.08, ---[-] Required for BICYCLE model Combined Income Tax Rate,.3, ---[-] Required for BICYCLE model Gross Revenue Tax Rate,0, ---[-] Required for BICYCLE model +S-DAC-GT Carbon Credit Price, 180.0, ---[USD/tonne CO2] 45Q tax credit rate or voluntary market price ***Simulation Parameters*** *************************** From 50237efa4924069071ab461a8924aa116f04816c Mon Sep 17 00:00:00 2001 From: softwareengineerprogrammer <4056124+softwareengineerprogrammer@users.noreply.github.com> Date: Tue, 19 May 2026 14:07:57 -0700 Subject: [PATCH 2/9] fix S-DAC profile client parsing --- src/geophires_x/OutputsS_DAC_GT.py | 2 +- src/geophires_x_client/geophires_x_result.py | 1 + tests/examples/S-DAC-GT.out | 6 +++--- tests/test_geophires_x_client.py | 7 ++++--- 4 files changed, 9 insertions(+), 7 deletions(-) diff --git a/src/geophires_x/OutputsS_DAC_GT.py b/src/geophires_x/OutputsS_DAC_GT.py index 65ab024f1..b12fef9c7 100644 --- a/src/geophires_x/OutputsS_DAC_GT.py +++ b/src/geophires_x/OutputsS_DAC_GT.py @@ -88,7 +88,7 @@ def PrintOutputs(self, model) -> tuple: f.write(NL) f.write(" **********************" + NL) - f.write(" * S-DAC-GT PROFILE *" + NL) + f.write(" * S-DAC-GT PROFILE *" + NL) f.write(" **********************" + NL) f.write("Year Carbon Cumm. Carbon S-DAC-GT S-DAC-GT Cumm. Cumm. Cost Annual Carbon" + NL) f.write("Since Captured Captured Annual Cost Cash Flow Cost Per Tonne Revenue" + NL) diff --git a/src/geophires_x_client/geophires_x_result.py b/src/geophires_x_client/geophires_x_result.py index 7ed141cc5..e139d3ba3 100644 --- a/src/geophires_x_client/geophires_x_result.py +++ b/src/geophires_x_client/geophires_x_result.py @@ -804,6 +804,7 @@ def extract_table_header(lines: list) -> list: 'S-DAC-GT Annual Cost (USD/yr)', 'S-DAC-GT Cumm. Cash Flow (USD)', 'Cumm. Cost Per Tonne (USD/tonne)', + 'Annual Carbon Revenue (USD/yr)', ] try: diff --git a/tests/examples/S-DAC-GT.out b/tests/examples/S-DAC-GT.out index 81e4761b0..3ecead048 100644 --- a/tests/examples/S-DAC-GT.out +++ b/tests/examples/S-DAC-GT.out @@ -6,8 +6,8 @@ Simulation Metadata ---------------------- GEOPHIRES Version: 3.13.8 Simulation Date: 2026-05-19 - Simulation Time: 11:37 - Calculation Time: 0.140 sec + Simulation Time: 13:57 + Calculation Time: 0.137 sec ***SUMMARY OF RESULTS*** @@ -270,7 +270,7 @@ ________________________________________________________________________________ ********************** - * S-DAC-GT PROFILE * + * S-DAC-GT PROFILE * ********************** Year Carbon Cumm. Carbon S-DAC-GT S-DAC-GT Cumm. Cumm. Cost Annual Carbon Since Captured Captured Annual Cost Cash Flow Cost Per Tonne Revenue diff --git a/tests/test_geophires_x_client.py b/tests/test_geophires_x_client.py index f3f8fa873..25e26e5b1 100644 --- a/tests/test_geophires_x_client.py +++ b/tests/test_geophires_x_client.py @@ -590,18 +590,19 @@ def test_parse_sdacgt_profile(self): 'S-DAC-GT Annual Cost (USD/yr)', 'S-DAC-GT Cumm. Cash Flow (USD)', 'Cumm. Cost Per Tonne (USD/tonne)', + 'Annual Carbon Revenue (USD/yr)', ], ) # Values below need to be synchronized if S-DAC-GT example output values change. - self.assertEqual([1, 78330.8, 78330.8, 17411627.98, 17411627.98, 222.28], sdacgt_profile[1]) + self.assertEqual([1, 78330.8, 78330.8, 17411627.98, 17411627.98, 222.28, 14099544.46], sdacgt_profile[1]) self.assertEqual( - [15, 76263.89, 1167207.48, 16952186.81, 259450710.33, 222.28], + [15, 76263.89, 1167207.48, 16952186.81, 259450710.33, 222.28, 13727499.34], sdacgt_profile[15], ) - self.assertEqual([30, 68860.68, 2253170.17, 15306577.89, 500842063.38, 222.28], sdacgt_profile[30]) + self.assertEqual([30, 68860.68, 2253170.17, 15306577.89, 500842063.38, 222.28, 12394922.28], sdacgt_profile[30]) def test_parse_economic_model(self): result = GeophiresXResult(self._get_test_file_path('examples/example3.out')) From e30dc21dbba6b6817f68c7ec2cd617526be7c85f Mon Sep 17 00:00:00 2001 From: softwareengineerprogrammer <4056124+softwareengineerprogrammer@users.noreply.github.com> Date: Tue, 19 May 2026 15:21:10 -0700 Subject: [PATCH 3/9] SAM-EM S-DAC support --- src/geophires_x/EconomicsSam.py | 16 + tests/examples/S-DAC-GT-2.out | 524 ++++++++++++++++++++++++++++++++ tests/examples/S-DAC-GT-2.txt | 52 ++++ 3 files changed, 592 insertions(+) create mode 100644 tests/examples/S-DAC-GT-2.out create mode 100644 tests/examples/S-DAC-GT-2.txt diff --git a/src/geophires_x/EconomicsSam.py b/src/geophires_x/EconomicsSam.py index aca41ff19..18a91dd3b 100644 --- a/src/geophires_x/EconomicsSam.py +++ b/src/geophires_x/EconomicsSam.py @@ -758,6 +758,22 @@ def _price_vector(price_value: list[float]) -> list[float | str]: ) ret.append(carbon_revenue_source) + if econ.DoSDACGTCalculations.value: + # Pad the scalar price to match the full timeline array length required by SAM formatting + sdac_price_array = [0.0] * _pre_revenue_years_count(model) + [ + model.sdacgteconomics.carbon_credit_price.value + ] * model.surfaceplant.plant_lifetime.value + + sdac_revenue_source = CapacityPaymentRevenueSource( + name='S-DAC-GT Carbon credits', + revenue_usd=[round(it) for it in model.sdacgteconomics.CarbonRevenue.value], + price_label=f'S-DAC-GT Carbon credit price ({model.sdacgteconomics.carbon_credit_price.CurrentUnits.value})', + price=_price_vector(sdac_price_array), + amount_provided_label=f'S-DAC-GT Carbon Extracted ({model.sdacgteconomics.CarbonExtractedAnnually.CurrentUnits.value})', + amount_provided=model.sdacgteconomics.CarbonExtractedAnnually.value, + ) + ret.append(sdac_revenue_source) + def _get_revenue_usd_series(econ_revenue_output: OutputParameter) -> Iterable[float]: return [ round(it) diff --git a/tests/examples/S-DAC-GT-2.out b/tests/examples/S-DAC-GT-2.out new file mode 100644 index 000000000..c2fcb1cb2 --- /dev/null +++ b/tests/examples/S-DAC-GT-2.out @@ -0,0 +1,524 @@ + ***************** + ***CASE REPORT*** + ***************** + +Simulation Metadata +---------------------- + GEOPHIRES Version: 3.13.8 + Simulation Date: 2026-05-19 + Simulation Time: 15:19 + Calculation Time: 0.200 sec + + ***SUMMARY OF RESULTS*** + + End-Use Option: Cogeneration Topping Cycle, Heat sales considered as extra income + Average Net Electricity Production: 19.62 MW + Average Direct-Use Heat Production: 13.19 MW + Electricity breakeven price: 15.11 cents/kWh + Direct-Use heat breakeven price (LCOH): 0.00 USD/MMBTU + Total CAPEX: 214.79 MUSD + Electricity CAPEX ($/kWe): 9447 USD/kW + Heat CAPEX ($/kWth): 1184 USD/kW + Number of production wells: 3 + Number of injection wells: 3 + Flowrate per production well: 70.0 kg/sec + Well depth: 3.1 kilometer + Geothermal gradient: 70 degC/km + + + ***ECONOMIC PARAMETERS*** + + Economic Model = SAM Single Owner PPA + Real Discount Rate: 7.00 % + Nominal Discount Rate: 9.14 % + WACC: 6.37 % + Project lifetime: 30 yr + Capacity factor: 90.0 % + Project NPV: -34.36 MUSD + After-tax IRR: 5.38 % + Project VIR=PI=PIR: 0.68 + Project MOIC: 1.19 + Project Payback Period: 15.64 yr + CHP: Percent cost allocation for electrical plant: 92.25 % + + ***ENGINEERING PARAMETERS*** + + Number of Production Wells: 3 + Number of Injection Wells: 3 + Well depth: 3.1 kilometer + Water loss rate: 2.0 % + Pump efficiency: 80.0 % + Injection temperature: 70.0 degC + User-provided production well temperature drop + Constant production well temperature drop: 5.0 degC + Flowrate per production well: 70.0 kg/sec + Injection well casing ID: 8.500 in + Production well casing ID: 8.500 in + Number of times redrilling: 0 + Power plant type: Double-Flash + + + ***RESOURCE CHARACTERISTICS*** + + Maximum reservoir temperature: 400.0 degC + Number of segments: 1 + Geothermal gradient: 70 degC/km + + + ***RESERVOIR PARAMETERS*** + + Reservoir Model = Single Fracture m/A Thermal Drawdown Model + m/A Drawdown Parameter: 0.00002 1/year + Bottom-hole temperature: 232.00 degC + Reservoir volume calculated with fracture separation and number of fractures as input + Number of fractures: 12 + Fracture separation: 80.00 meter + Reservoir volume: 176000000 m**3 + Reservoir hydrostatic pressure: 29019.48 kPa + Plant outlet pressure: 100.00 kPa + Injectivity Index: 5.00 kg/sec/bar + Reservoir density: 2700.00 kg/m**3 + Reservoir thermal conductivity: 3.00 W/m/K + Reservoir heat capacity: 1000.00 J/kg/K + + + ***RESERVOIR SIMULATION RESULTS*** + + Maximum Production Temperature: 227.0 degC + Average Production Temperature: 220.6 degC + Minimum Production Temperature: 207.6 degC + Initial Production Temperature: 227.0 degC + Average Reservoir Heat Extraction: 133.05 MW + Wellbore Heat Transmission Model = Constant Temperature Drop: 5.0 degC + Average Injection Well Pump Pressure Drop: 687.0 kPa + + + ***CAPITAL COSTS (M$)*** + + Exploration costs: 4.42 MUSD + Drilling and completion costs: 25.55 MUSD + Drilling and completion costs per well: 4.26 MUSD + Stimulation costs: 4.53 MUSD + Surface power plant costs: 64.90 MUSD + of which Electrical Plant Cost: 59.87 MUSD + of which Heat Plant Cost: 5.03 MUSD + Field gathering system costs: 3.16 MUSD + Total surface equipment costs: 68.06 MUSD + Overnight Capital Cost: 210.58 MUSD + Inflation costs during construction: 4.21 MUSD + Total CAPEX: 214.79 MUSD + + + ***OPERATING AND MAINTENANCE COSTS (M$/yr)*** + + Wellfield maintenance costs: 0.74 MUSD/yr + Power plant maintenance costs: 2.34 MUSD/yr + Water costs: 0.11 MUSD/yr + Total operating and maintenance costs: 8.90 MUSD/yr + + + ***SURFACE EQUIPMENT SIMULATION RESULTS*** + Initial geofluid availability: 0.23 MW/(kg/s) + Maximum Total Electricity Generation: 21.16 MW + Average Total Electricity Generation: 19.80 MW + Minimum Total Electricity Generation: 17.14 MW + Initial Total Electricity Generation: 21.16 MW + Maximum Net Electricity Generation: 20.98 MW + Average Net Electricity Generation: 19.62 MW + Minimum Net Electricity Generation: 16.96 MW + Initial Net Electricity Generation: 20.98 MW + Average Annual Total Electricity Generation: 87.28 GWh + Average Annual Net Electricity Generation: 85.81 GWh + Initial pumping power/net installed power: 0.89 % + Maximum Net Heat Production: 14.05 MW + Average Net Heat Production: 13.19 MW + Minimum Net Heat Production: 11.35 MW + Initial Net Heat Production: 14.05 MW + Average Annual Heat Production: -4.76 GWh + Average Pumping Power: 0.19 MW + Heat to Power Conversion Efficiency: 16.55 % + + ************************************************************ + * HEATING, COOLING AND/OR ELECTRICITY PRODUCTION PROFILE * + ************************************************************ + YEAR THERMAL GEOFLUID PUMP NET NET FIRST LAW + DRAWDOWN TEMPERATURE POWER POWER HEAT EFFICIENCY + (deg C) (MW) (MW) (MW) (%) + 0 1.0000 227.00 0.1857 20.9750 14.0539 17.0370 + 1 1.0000 227.00 0.1857 20.9750 14.0539 17.0370 + 2 1.0000 227.00 0.1857 20.9750 14.0539 17.0370 + 3 1.0000 227.00 0.1857 20.9750 14.0538 17.0369 + 4 1.0000 227.00 0.1857 20.9743 14.0534 17.0367 + 5 0.9999 226.98 0.1857 20.9700 14.0509 17.0352 + 6 0.9996 226.92 0.1857 20.9566 14.0432 17.0306 + 7 0.9991 226.79 0.1857 20.9285 14.0268 17.0209 + 8 0.9981 226.57 0.1857 20.8811 13.9992 17.0046 + 9 0.9967 226.26 0.1857 20.8121 13.9588 16.9807 + 10 0.9949 225.84 0.1857 20.7210 13.9051 16.9492 + 11 0.9926 225.32 0.1857 20.6087 13.8385 16.9102 + 12 0.9899 224.71 0.1857 20.4769 13.7597 16.8643 + 13 0.9869 224.02 0.1857 20.3281 13.6697 16.8122 + 14 0.9835 223.26 0.1857 20.1645 13.5697 16.7546 + 15 0.9799 222.44 0.1857 19.9885 13.4608 16.6925 + 16 0.9761 221.57 0.1857 19.8026 13.3442 16.6264 + 17 0.9720 220.65 0.1857 19.6086 13.2209 16.5571 + 18 0.9678 219.70 0.1857 19.4085 13.0919 16.4852 + 19 0.9635 218.72 0.1857 19.2038 12.9580 16.4111 + 20 0.9591 217.72 0.1857 18.9961 12.8200 16.3355 + 21 0.9547 216.71 0.1857 18.7865 12.6787 16.2587 + 22 0.9501 215.68 0.1857 18.5760 12.5345 16.1810 + 23 0.9456 214.65 0.1857 18.3655 12.3881 16.1028 + 24 0.9410 213.61 0.1857 18.1557 12.2399 16.0244 + 25 0.9365 212.58 0.1857 17.9472 12.0904 15.9459 + 26 0.9319 211.54 0.1857 17.7406 11.9398 15.8675 + 27 0.9274 210.51 0.1857 17.5362 11.7886 15.7894 + 28 0.9229 209.49 0.1857 17.3344 11.6370 15.7118 + 29 0.9184 208.47 0.1857 17.1353 11.4853 15.6347 + + + ******************************************************************* + * ANNUAL HEATING, COOLING AND/OR ELECTRICITY PRODUCTION PROFILE * + ******************************************************************* + YEAR HEAT ELECTRICITY HEAT RESERVOIR PERCENTAGE OF + PROVIDED PROVIDED EXTRACTED HEAT CONTENT TOTAL HEAT MINED + (GWh/year) (GWh/year) (GWh/year) (10^15 J) (%) + 1 -2.5 93.6 1093.75 73.04 5.11 + 2 -2.5 93.6 1093.75 69.11 10.23 + 3 -2.5 93.6 1093.75 65.17 15.34 + 4 -2.5 93.6 1093.74 61.23 20.46 + 5 -2.5 93.6 1093.67 57.30 25.57 + 6 -2.6 93.6 1093.41 53.36 30.69 + 7 -2.6 93.4 1092.76 49.42 35.80 + 8 -2.6 93.2 1091.57 45.50 40.90 + 9 -2.7 92.9 1089.72 41.57 46.00 + 10 -2.8 92.4 1087.17 37.66 51.08 + 11 -3.0 91.8 1083.91 33.76 56.15 + 12 -3.1 91.1 1079.99 29.87 61.20 + 13 -3.3 90.3 1075.47 26.00 66.23 + 14 -3.5 89.4 1070.41 22.14 71.24 + 15 -3.8 88.4 1064.89 18.31 76.22 + 16 -4.1 87.4 1058.98 14.50 81.17 + 17 -4.4 86.3 1052.73 10.71 86.09 + 18 -4.7 85.2 1046.22 6.94 90.98 + 19 -5.0 84.0 1039.50 3.20 95.84 + 20 -5.4 82.8 1032.60 -0.52 100.67 + 21 -5.8 81.7 1025.58 -4.21 105.47 + 22 -6.2 80.5 1018.47 -7.88 110.23 + 23 -6.6 79.3 1011.30 -11.52 114.96 + 24 -7.0 78.1 1004.09 -15.13 119.66 + 25 -7.4 76.9 996.87 -18.72 124.32 + 26 -7.8 75.8 989.66 -22.28 128.95 + 27 -8.3 74.6 982.47 -25.82 133.54 + 28 -8.7 73.5 975.32 -29.33 138.10 + 29 -9.2 72.4 968.21 -32.82 142.63 + 30 -9.6 71.3 961.52 -36.28 147.13 + + *************************** + * SAM CASH FLOW PROFILE * + *************************** +--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- + Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20 Year 21 Year 22 Year 23 Year 24 Year 25 Year 26 Year 27 Year 28 Year 29 Year 30 +CONSTRUCTION +Capital expenditure schedule [construction] (%) 100.0 +Overnight capital expenditure [construction] ($) -210,575,751 +plus: +Inflation cost [construction] ($) -4,211,515 +plus: +Royalty supplemental payments [construction] ($) 0 +equals: +Nominal capital expenditure [construction] ($) -214,787,267 + +Issuance of equity [construction] ($) 107,393,633 +Issuance of debt [construction] ($) 107,393,633 +Debt balance [construction] ($) 107,393,633 +Debt interest payment [construction] ($) 0 + +Installed cost [construction] ($) -214,787,267 +After-tax net cash flow [construction] ($) -107,393,633 + +ENERGY +Electricity to grid (kWh) 0.0 164,262,593 164,262,593 164,262,523 164,259,927 164,237,860 164,153,030 163,946,512 163,565,140 162,974,410 162,160,536 161,126,671 159,887,568 158,464,763 156,882,914 155,167,311 153,342,313 151,430,456 149,452,029 147,424,931 145,364,714 143,284,728 141,196,317 139,109,029 137,030,835 134,968,328 132,926,914 130,910,978 128,924,033 126,968,851 125,142,526 +Electricity from grid (kWh) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 +Electricity to grid net (kWh) 0.0 164,262,593 164,262,593 164,262,523 164,259,927 164,237,860 164,153,030 163,946,512 163,565,140 162,974,410 162,160,536 161,126,671 159,887,568 158,464,763 156,882,914 155,167,311 153,342,313 151,430,456 149,452,029 147,424,931 145,364,714 143,284,728 141,196,317 139,109,029 137,030,835 134,968,328 132,926,914 130,910,978 128,924,033 126,968,851 125,142,526 + +S-DAC-GT Carbon Extracted (tonne/yr) 0 78,330.80 78,330.80 78,330.79 78,330.21 78,325.28 78,306.33 78,260.16 78,174.81 78,042.38 77,859.43 77,626.22 77,345.52 77,021.56 76,659.30 76,263.89 75,840.32 75,393.28 74,927.04 74,445.39 73,951.72 73,448.95 72,939.63 72,425.96 71,909.81 71,392.80 70,876.27 70,361.40 69,849.14 69,340.31 68,860.68 + +REVENUE +PPA price (cents/kWh) 0.0 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 +PPA revenue ($) 0 9,034,443 9,034,443 9,034,439 9,034,296 9,033,082 9,028,417 9,017,058 8,996,083 8,963,593 8,918,829 8,861,967 8,793,816 8,715,562 8,628,560 8,534,202 8,433,827 8,328,675 8,219,862 8,108,371 7,995,059 7,880,660 7,765,797 7,650,997 7,536,696 7,423,258 7,310,980 7,200,104 7,090,822 6,983,287 6,882,839 +Curtailment payment revenue ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 + +S-DAC-GT Carbon credit price ($/tonne) 0.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 +S-DAC-GT Carbon credits revenue ($) 0 14,099,544 14,099,544 14,099,542 14,099,437 14,098,550 14,095,139 14,086,829 14,071,467 14,047,628 14,014,697 13,972,720 13,922,194 13,863,881 13,798,674 13,727,499 13,651,257 13,570,790 13,486,866 13,400,171 13,311,310 13,220,811 13,129,134 13,036,672 12,943,766 12,850,703 12,757,729 12,665,052 12,572,845 12,481,256 12,394,922 +equals: +Capacity payment revenue ($) 0 14,099,544 14,099,544 14,099,542 14,099,437 14,098,550 14,095,139 14,086,829 14,071,467 14,047,628 14,014,697 13,972,720 13,922,194 13,863,881 13,798,674 13,727,499 13,651,257 13,570,790 13,486,866 13,400,171 13,311,310 13,220,811 13,129,134 13,036,672 12,943,766 12,850,703 12,757,729 12,665,052 12,572,845 12,481,256 12,394,922 + +Salvage value ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 107,393,633 +Total revenue ($) 0 23,133,987 23,133,987 23,133,981 23,133,733 23,131,632 23,123,556 23,103,887 23,067,550 23,011,221 22,933,526 22,834,687 22,716,010 22,579,443 22,427,234 22,261,701 22,085,084 21,899,465 21,706,728 21,508,542 21,306,369 21,101,471 20,894,931 20,687,669 20,480,462 20,273,961 20,068,709 19,865,156 19,663,667 19,464,543 126,671,394 + +Property tax net assessed value ($) 0 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 + +OPERATING EXPENSES +O&M fixed expense ($) 0 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 +O&M production-based expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +O&M capacity-based expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Fuel expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Electricity purchase ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Property tax expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Insurance expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Total operating expenses ($) 0 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 + +EBITDA ($) 0 14,236,483 14,236,483 14,236,477 14,236,229 14,234,129 14,226,052 14,206,384 14,170,046 14,113,717 14,036,023 13,937,183 13,818,507 13,681,939 13,529,731 13,364,197 13,187,581 13,001,961 12,809,224 12,611,039 12,408,866 12,203,967 11,997,428 11,790,165 11,582,958 11,376,457 11,171,206 10,967,652 10,766,163 10,567,039 117,773,891 + +OPERATING ACTIVITIES +EBITDA ($) 0 14,236,483 14,236,483 14,236,477 14,236,229 14,234,129 14,226,052 14,206,384 14,170,046 14,113,717 14,036,023 13,937,183 13,818,507 13,681,939 13,529,731 13,364,197 13,187,581 13,001,961 12,809,224 12,611,039 12,408,866 12,203,967 11,997,428 11,790,165 11,582,958 11,376,457 11,171,206 10,967,652 10,766,163 10,567,039 117,773,891 +Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +plus PBI if not available for debt service: +Federal PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Utility PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Other PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Debt interest payment ($) 0 5,369,682 5,288,860 5,203,998 5,114,892 5,021,331 4,923,092 4,819,941 4,711,633 4,597,909 4,478,499 4,353,119 4,221,469 4,083,237 3,938,093 3,785,692 3,625,672 3,457,650 3,281,227 3,095,983 2,901,476 2,697,244 2,482,801 2,257,636 2,021,212 1,772,967 1,512,310 1,238,620 951,246 649,502 332,672 +Cash flow from operating activities ($) 0 8,866,801 8,947,623 9,032,479 9,121,337 9,212,797 9,302,960 9,386,442 9,458,413 9,515,808 9,557,524 9,584,065 9,597,038 9,598,702 9,591,637 9,578,505 9,561,909 9,544,312 9,527,997 9,515,056 9,507,389 9,506,723 9,514,627 9,532,529 9,561,746 9,603,490 9,658,896 9,729,032 9,814,918 9,917,537 117,441,219 + +INVESTING ACTIVITIES +Total installed cost ($) -214,787,267 +Debt closing costs ($) 0 +Debt up-front fee ($) 0 +minus: +Total IBI income ($) 0 +Total CBI income ($) 0 +equals: +Purchase of property ($) -214,787,267 +plus: +Reserve (increase)/decrease debt service ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserve (increase)/decrease working capital ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserve (increase)/decrease receivables ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserve (increase)/decrease major equipment 1 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserve (increase)/decrease major equipment 2 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserve (increase)/decrease major equipment 3 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserve capital spending major equipment 1 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserve capital spending major equipment 2 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserve capital spending major equipment 3 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +equals: +Cash flow from investing activities ($) -214,787,267 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 + +FINANCING ACTIVITIES +Issuance of equity ($) 107,393,633 +Size of debt ($) 107,393,633 +minus: +Debt principal payment ($) 0 1,616,428 1,697,250 1,782,112 1,871,218 1,964,779 2,063,018 2,166,169 2,274,477 2,388,201 2,507,611 2,632,991 2,764,641 2,902,873 3,048,017 3,200,417 3,360,438 3,528,460 3,704,883 3,890,127 4,084,634 4,288,865 4,503,309 4,728,474 4,964,898 5,213,143 5,473,800 5,747,490 6,034,864 6,336,608 6,653,438 +equals: +Cash flow from financing activities ($) 214,787,267 -1,616,428 -1,697,250 -1,782,112 -1,871,218 -1,964,779 -2,063,018 -2,166,169 -2,274,477 -2,388,201 -2,507,611 -2,632,991 -2,764,641 -2,902,873 -3,048,017 -3,200,417 -3,360,438 -3,528,460 -3,704,883 -3,890,127 -4,084,634 -4,288,865 -4,503,309 -4,728,474 -4,964,898 -5,213,143 -5,473,800 -5,747,490 -6,034,864 -6,336,608 -6,653,438 + +PROJECT RETURNS +Pre-tax Cash Flow: +Cash flow from operating activities ($) 0 8,866,801 8,947,623 9,032,479 9,121,337 9,212,797 9,302,960 9,386,442 9,458,413 9,515,808 9,557,524 9,584,065 9,597,038 9,598,702 9,591,637 9,578,505 9,561,909 9,544,312 9,527,997 9,515,056 9,507,389 9,506,723 9,514,627 9,532,529 9,561,746 9,603,490 9,658,896 9,729,032 9,814,918 9,917,537 117,441,219 +Cash flow from investing activities ($) -214,787,267 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Cash flow from financing activities ($) 214,787,267 -1,616,428 -1,697,250 -1,782,112 -1,871,218 -1,964,779 -2,063,018 -2,166,169 -2,274,477 -2,388,201 -2,507,611 -2,632,991 -2,764,641 -2,902,873 -3,048,017 -3,200,417 -3,360,438 -3,528,460 -3,704,883 -3,890,127 -4,084,634 -4,288,865 -4,503,309 -4,728,474 -4,964,898 -5,213,143 -5,473,800 -5,747,490 -6,034,864 -6,336,608 -6,653,438 +Total pre-tax cash flow ($) 0 7,250,373 7,250,373 7,250,367 7,250,119 7,248,019 7,239,942 7,220,274 7,183,936 7,127,607 7,049,913 6,951,073 6,832,397 6,695,829 6,543,621 6,378,088 6,201,471 6,015,851 5,823,114 5,624,929 5,422,756 5,217,857 5,011,318 4,804,055 4,596,848 4,390,347 4,185,096 3,981,542 3,780,053 3,580,929 110,787,781 + +Pre-tax Returns: +Issuance of equity ($) 107,393,633 +Total pre-tax cash flow ($) 0 7,250,373 7,250,373 7,250,367 7,250,119 7,248,019 7,239,942 7,220,274 7,183,936 7,127,607 7,049,913 6,951,073 6,832,397 6,695,829 6,543,621 6,378,088 6,201,471 6,015,851 5,823,114 5,624,929 5,422,756 5,217,857 5,011,318 4,804,055 4,596,848 4,390,347 4,185,096 3,981,542 3,780,053 3,580,929 110,787,781 +Total pre-tax returns ($) -107,393,633 7,250,373 7,250,373 7,250,367 7,250,119 7,248,019 7,239,942 7,220,274 7,183,936 7,127,607 7,049,913 6,951,073 6,832,397 6,695,829 6,543,621 6,378,088 6,201,471 6,015,851 5,823,114 5,624,929 5,422,756 5,217,857 5,011,318 4,804,055 4,596,848 4,390,347 4,185,096 3,981,542 3,780,053 3,580,929 110,787,781 + +After-tax Returns: +Total pre-tax returns ($) -107,393,633 7,250,373 7,250,373 7,250,367 7,250,119 7,248,019 7,239,942 7,220,274 7,183,936 7,127,607 7,049,913 6,951,073 6,832,397 6,695,829 6,543,621 6,378,088 6,201,471 6,015,851 5,823,114 5,624,929 5,422,756 5,217,857 5,011,318 4,804,055 4,596,848 4,390,347 4,185,096 3,981,542 3,780,053 3,580,929 110,787,781 +Federal ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Federal PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Federal tax benefit (liability) ($) 0 -668,300 342,402 326,186 309,205 291,727 274,497 258,543 244,790 233,821 225,850 220,778 218,298 217,980 219,330 221,840 225,012 228,374 231,492 233,965 235,430 -790,589 -1,818,245 -1,821,666 -1,827,250 -1,835,227 -1,845,815 -1,859,218 -1,875,631 -1,895,241 -22,443,017 +State ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State tax benefit (liability) ($) 0 -314,741 161,257 153,620 145,622 137,391 129,276 121,763 115,286 110,120 106,366 103,977 102,809 102,659 103,295 104,477 105,971 107,555 109,023 110,188 110,878 -372,334 -856,316 -857,928 -860,557 -864,314 -869,301 -875,613 -883,343 -892,578 -10,569,710 +Total after-tax returns ($) -107,393,633 6,267,333 7,754,031 7,730,172 7,704,947 7,677,136 7,643,715 7,600,580 7,544,011 7,471,548 7,382,128 7,275,828 7,153,504 7,016,469 6,866,246 6,704,405 6,532,453 6,351,780 6,163,629 5,969,081 5,769,064 4,054,935 2,336,756 2,124,461 1,909,041 1,690,806 1,469,980 1,246,711 1,021,080 793,110 77,775,054 + +After-tax net cash flow ($) -107,393,633 6,267,333 7,754,031 7,730,172 7,704,947 7,677,136 7,643,715 7,600,580 7,544,011 7,471,548 7,382,128 7,275,828 7,153,504 7,016,469 6,866,246 6,704,405 6,532,453 6,351,780 6,163,629 5,969,081 5,769,064 4,054,935 2,336,756 2,124,461 1,909,041 1,690,806 1,469,980 1,246,711 1,021,080 793,110 77,775,054 +After-tax cumulative IRR (%) NaN -94.16 -70.05 -50.38 -36.64 -27.04 -20.17 -15.11 -11.30 -8.36 -6.06 -4.22 -2.74 -1.54 -0.54 0.28 0.97 1.55 2.05 2.47 2.82 3.05 3.17 3.28 3.36 3.43 3.49 3.54 3.58 3.61 5.38 +After-tax cumulative NPV ($) -107,393,633 -101,651,162 -95,141,482 -89,195,312 -83,764,887 -78,807,195 -74,284,464 -70,163,877 -66,416,471 -63,015,875 -59,937,354 -57,157,264 -54,652,819 -52,402,069 -50,383,963 -48,578,448 -46,966,567 -45,530,521 -44,253,713 -43,120,759 -42,117,469 -41,471,338 -41,130,171 -40,845,975 -40,611,983 -40,422,096 -40,270,835 -40,153,291 -40,065,083 -40,002,306 -34,361,751 + +AFTER-TAX LCOE AND PPA PRICE +Annual costs ($) -107,393,633 -16,866,654 -15,379,955 -15,403,809 -15,428,786 -15,454,496 -15,479,841 -15,503,307 -15,523,538 -15,539,672 -15,551,398 -15,558,859 -15,562,506 -15,562,974 -15,560,988 -15,557,296 -15,552,631 -15,547,685 -15,543,099 -15,539,461 -15,537,306 -17,046,536 -18,558,175 -18,563,208 -18,571,420 -18,583,155 -18,598,729 -18,618,445 -18,642,587 -18,671,433 58,497,293 +PPA revenue ($) 0 9,034,443 9,034,443 9,034,439 9,034,296 9,033,082 9,028,417 9,017,058 8,996,083 8,963,593 8,918,829 8,861,967 8,793,816 8,715,562 8,628,560 8,534,202 8,433,827 8,328,675 8,219,862 8,108,371 7,995,059 7,880,660 7,765,797 7,650,997 7,536,696 7,423,258 7,310,980 7,200,104 7,090,822 6,983,287 6,882,839 +Electricity to grid (kWh) 0 164,262,593 164,262,593 164,262,523 164,259,927 164,237,860 164,153,030 163,946,512 163,565,140 162,974,410 162,160,536 161,126,671 159,887,568 158,464,763 156,882,914 155,167,311 153,342,313 151,430,456 149,452,029 147,424,931 145,364,714 143,284,728 141,196,317 139,109,029 137,030,835 134,968,328 132,926,914 130,910,978 128,924,033 126,968,851 125,142,526 + +Present value of annual costs ($) 263,456,689 + +Present value of annual energy costs ($) 243,045,091 +Present value of annual energy nominal (kWh) 1,608,513,342 +LCOE Levelized cost of energy nominal (cents/kWh) 15.11 + +Present value of PPA revenue ($) 88,468,234 +Present value of annual energy nominal (kWh) 1,608,513,342 +LPPA Levelized PPA price nominal (cents/kWh) 5.50 + +PROJECT STATE INCOME TAXES +EBITDA ($) 0 14,236,483 14,236,483 14,236,477 14,236,229 14,234,129 14,226,052 14,206,384 14,170,046 14,113,717 14,036,023 13,937,183 13,818,507 13,681,939 13,529,731 13,364,197 13,187,581 13,001,961 12,809,224 12,611,039 12,408,866 12,203,967 11,997,428 11,790,165 11,582,958 11,376,457 11,171,206 10,967,652 10,766,163 10,567,039 117,773,891 +State taxable PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State taxable IBI income ($) 0 +State taxable CBI income ($) 0 +minus: +Debt interest payment ($) 0 5,369,682 5,288,860 5,203,998 5,114,892 5,021,331 4,923,092 4,819,941 4,711,633 4,597,909 4,478,499 4,353,119 4,221,469 4,083,237 3,938,093 3,785,692 3,625,672 3,457,650 3,281,227 3,095,983 2,901,476 2,697,244 2,482,801 2,257,636 2,021,212 1,772,967 1,512,310 1,238,620 951,246 649,502 332,672 +Total state tax depreciation ($) 0 5,369,682 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 5,369,682 0 0 0 0 0 0 0 0 0 +equals: +State taxable income ($) 0 3,497,120 -1,791,741 -1,706,884 -1,618,026 -1,526,566 -1,436,404 -1,352,921 -1,280,950 -1,223,556 -1,181,840 -1,155,299 -1,142,326 -1,140,661 -1,147,726 -1,160,858 -1,177,454 -1,195,052 -1,211,366 -1,224,307 -1,231,974 4,137,041 9,514,627 9,532,529 9,561,746 9,603,490 9,658,896 9,729,032 9,814,918 9,917,537 117,441,219 + +State income tax rate (frac) 0.0 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 +State tax benefit (liability) ($) 0 -314,741 161,257 153,620 145,622 137,391 129,276 121,763 115,286 110,120 106,366 103,977 102,809 102,659 103,295 104,477 105,971 107,555 109,023 110,188 110,878 -372,334 -856,316 -857,928 -860,557 -864,314 -869,301 -875,613 -883,343 -892,578 -10,569,710 + +PROJECT FEDERAL INCOME TAXES +EBITDA ($) 0 14,236,483 14,236,483 14,236,477 14,236,229 14,234,129 14,226,052 14,206,384 14,170,046 14,113,717 14,036,023 13,937,183 13,818,507 13,681,939 13,529,731 13,364,197 13,187,581 13,001,961 12,809,224 12,611,039 12,408,866 12,203,967 11,997,428 11,790,165 11,582,958 11,376,457 11,171,206 10,967,652 10,766,163 10,567,039 117,773,891 +Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State tax benefit (liability) ($) 0 -314,741 161,257 153,620 145,622 137,391 129,276 121,763 115,286 110,120 106,366 103,977 102,809 102,659 103,295 104,477 105,971 107,555 109,023 110,188 110,878 -372,334 -856,316 -857,928 -860,557 -864,314 -869,301 -875,613 -883,343 -892,578 -10,569,710 +State ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Federal taxable IBI income ($) 0 +Federal taxable CBI income ($) 0 +Federal taxable PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +minus: +Debt interest payment ($) 0 5,369,682 5,288,860 5,203,998 5,114,892 5,021,331 4,923,092 4,819,941 4,711,633 4,597,909 4,478,499 4,353,119 4,221,469 4,083,237 3,938,093 3,785,692 3,625,672 3,457,650 3,281,227 3,095,983 2,901,476 2,697,244 2,482,801 2,257,636 2,021,212 1,772,967 1,512,310 1,238,620 951,246 649,502 332,672 +Total federal tax depreciation ($) 0 5,369,682 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 5,369,682 0 0 0 0 0 0 0 0 0 +equals: +Federal taxable income ($) 0 3,182,379 -1,630,484 -1,553,264 -1,472,404 -1,389,175 -1,307,127 -1,231,158 -1,165,665 -1,113,436 -1,075,474 -1,051,322 -1,039,516 -1,038,001 -1,044,431 -1,056,381 -1,071,484 -1,087,497 -1,102,343 -1,114,120 -1,121,096 3,764,708 8,658,310 8,674,602 8,701,189 8,739,176 8,789,595 8,853,419 8,931,575 9,024,959 106,871,509 + +Federal income tax rate (frac) 0.0 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 +Federal tax benefit (liability) ($) 0 -668,300 342,402 326,186 309,205 291,727 274,497 258,543 244,790 233,821 225,850 220,778 218,298 217,980 219,330 221,840 225,012 228,374 231,492 233,965 235,430 -790,589 -1,818,245 -1,821,666 -1,827,250 -1,835,227 -1,845,815 -1,859,218 -1,875,631 -1,895,241 -22,443,017 + +CASH INCENTIVES +Federal IBI income ($) 0 +State IBI income ($) 0 +Utility IBI income ($) 0 +Other IBI income ($) 0 +Total IBI income ($) 0 + +Federal CBI income ($) 0 +State CBI income ($) 0 +Utility CBI income ($) 0 +Other CBI income ($) 0 +Total CBI income ($) 0 + +Federal PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Utility PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Other PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Total PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 + +TAX CREDITS +Federal PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 + +Federal ITC amount income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Federal ITC percent income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Federal ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 + +State ITC amount income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State ITC percent income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 + +DEBT REPAYMENT +Debt balance ($) 107,393,633 105,777,205 104,079,955 102,297,843 100,426,625 98,461,847 96,398,829 94,232,660 91,958,183 89,569,983 87,062,372 84,429,380 81,664,740 78,761,867 75,713,850 72,513,432 69,152,994 65,624,534 61,919,651 58,029,523 53,944,889 49,656,024 45,152,715 40,424,241 35,459,343 30,246,200 24,772,400 19,024,910 12,990,046 6,653,438 0 +Debt interest payment ($) 0 5,369,682 5,288,860 5,203,998 5,114,892 5,021,331 4,923,092 4,819,941 4,711,633 4,597,909 4,478,499 4,353,119 4,221,469 4,083,237 3,938,093 3,785,692 3,625,672 3,457,650 3,281,227 3,095,983 2,901,476 2,697,244 2,482,801 2,257,636 2,021,212 1,772,967 1,512,310 1,238,620 951,246 649,502 332,672 +Debt principal payment ($) 0 1,616,428 1,697,250 1,782,112 1,871,218 1,964,779 2,063,018 2,166,169 2,274,477 2,388,201 2,507,611 2,632,991 2,764,641 2,902,873 3,048,017 3,200,417 3,360,438 3,528,460 3,704,883 3,890,127 4,084,634 4,288,865 4,503,309 4,728,474 4,964,898 5,213,143 5,473,800 5,747,490 6,034,864 6,336,608 6,653,438 +Debt total payment ($) 0 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 + +DSCR (DEBT FRACTION) +EBITDA ($) 0 14,236,483 14,236,483 14,236,477 14,236,229 14,234,129 14,226,052 14,206,384 14,170,046 14,113,717 14,036,023 13,937,183 13,818,507 13,681,939 13,529,731 13,364,197 13,187,581 13,001,961 12,809,224 12,611,039 12,408,866 12,203,967 11,997,428 11,790,165 11,582,958 11,376,457 11,171,206 10,967,652 10,766,163 10,567,039 117,773,891 +minus: +Reserves major equipment 1 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 2 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 3 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves receivables funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +equals: +Cash available for debt service (CAFDS) ($) 0 14,236,483 14,236,483 14,236,477 14,236,229 14,234,129 14,226,052 14,206,384 14,170,046 14,113,717 14,036,023 13,937,183 13,818,507 13,681,939 13,529,731 13,364,197 13,187,581 13,001,961 12,809,224 12,611,039 12,408,866 12,203,967 11,997,428 11,790,165 11,582,958 11,376,457 11,171,206 10,967,652 10,766,163 10,567,039 117,773,891 +Debt total payment ($) 0 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 +DSCR (pre-tax) 0.0 2.04 2.04 2.04 2.04 2.04 2.04 2.03 2.03 2.02 2.01 1.99 1.98 1.96 1.94 1.91 1.89 1.86 1.83 1.81 1.78 1.75 1.72 1.69 1.66 1.63 1.60 1.57 1.54 1.51 16.86 + +RESERVES +Reserves working capital funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves working capital disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves working capital balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 + +Reserves debt service funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves debt service disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves debt service balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 + +Reserves receivables funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves receivables disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves receivables balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 + +Reserves major equipment 1 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 1 disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 1 balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 + +Reserves major equipment 2 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 2 disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 2 balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 + +Reserves major equipment 3 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 3 disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 3 balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 + +Reserves total reserves balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Interest on reserves (%/year) 1.75 +Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- + + + ***S-DAC-GT ECONOMICS*** + + + S-DAC-GT Report: Levelized Cost of Direct Air Capture (LCOD) + LCOD using grid-based electricity only: 387.69 USD/tonne + LCOD using natural gas only: 312.00 USD/tonne + LCOD using geothermal energy only: 288.87 USD/tonne + + S-DAC-GT Report: CO2 Intensity of process (percent of CO2 mitigated that is emitted by S-DAC process) + CO2 Intensity using grid-based electricity only: 94.52 % + CO2 Intensity using natural gas only: 64.85 % + CO2 Intensity using geothermal energy only: 36.91 % + + Geothermal LCOH: 0.0017 USD/kWh + Geothermal Ratio (electricity vs heat): 20.7259 % + Percent Energy Devoted To Process: 50.0000 % + + Total Tonnes of CO2 Captured: 2,253,170.17 tonne + Total Cost of Capture: 500,842,063.38 USD + + + ********************** + * S-DAC-GT PROFILE * + ********************** +Year Carbon Cumm. Carbon S-DAC-GT S-DAC-GT Cumm. Cumm. Cost Annual Carbon +Since Captured Captured Annual Cost Cash Flow Cost Per Tonne Revenue +Start (tonne/yr) (tonne) (USD/yr) (USD) (USD/tonne) (USD/yr) + 1 78,330.80 78,330.80 17,411,627.98 17,411,627.98 222.28 14,099,544.46 + 2 78,330.80 156,661.61 17,411,627.98 34,823,255.96 222.28 14,099,544.46 + 3 78,330.79 234,992.39 17,411,624.49 52,234,880.45 222.28 14,099,541.64 + 4 78,330.21 313,322.60 17,411,495.60 69,646,376.05 222.28 14,099,437.26 + 5 78,325.28 391,647.88 17,410,399.97 87,056,776.02 222.28 14,098,550.05 + 6 78,306.33 469,954.20 17,406,187.21 104,462,963.23 222.28 14,095,138.65 + 7 78,260.16 548,214.36 17,395,925.55 121,858,888.78 222.28 14,086,828.98 + 8 78,174.81 626,389.18 17,376,954.53 139,235,843.31 222.28 14,071,466.68 + 9 78,042.38 704,431.56 17,347,515.71 156,583,359.02 222.28 14,047,627.79 + 10 77,859.43 782,290.99 17,306,849.76 173,890,208.78 222.28 14,014,697.42 + 11 77,626.22 859,917.21 17,255,012.02 191,145,220.80 222.28 13,972,720.38 + 12 77,345.52 937,262.73 17,192,616.14 208,337,836.94 222.28 13,922,193.60 + 13 77,021.56 1,014,284.29 17,120,605.40 225,458,442.34 222.28 13,863,880.93 + 14 76,659.30 1,090,943.59 17,040,081.18 242,498,523.53 222.28 13,798,674.23 + 15 76,263.89 1,167,207.48 16,952,186.81 259,450,710.33 222.28 13,727,499.34 + 16 75,840.32 1,243,047.80 16,858,034.91 276,308,745.24 222.28 13,651,257.25 + 17 75,393.28 1,318,441.08 16,758,665.93 293,067,411.17 222.28 13,570,790.49 + 18 74,927.04 1,393,368.11 16,655,027.43 309,722,438.60 222.28 13,486,866.37 + 19 74,445.39 1,467,813.51 16,547,966.62 326,270,405.23 222.28 13,400,170.93 + 20 73,951.72 1,541,765.22 16,438,231.02 342,708,636.25 222.28 13,311,309.51 + 21 73,448.95 1,615,214.17 16,326,473.66 359,035,109.91 222.28 13,220,810.92 + 22 72,939.63 1,688,153.81 16,213,260.66 375,248,370.57 222.28 13,129,133.58 + 23 72,425.96 1,760,579.76 16,099,079.76 391,347,450.33 222.28 13,036,672.46 + 24 71,909.81 1,832,489.57 15,984,349.02 407,331,799.35 222.28 12,943,766.08 + 25 71,392.80 1,903,882.37 15,869,425.07 423,201,224.42 222.28 12,850,703.25 + 26 70,876.27 1,974,758.64 15,754,610.85 438,955,835.27 222.28 12,757,729.29 + 27 70,361.40 2,045,120.04 15,640,162.58 454,595,997.86 222.28 12,665,051.65 + 28 69,849.14 2,114,969.18 15,526,295.96 470,122,293.82 222.28 12,572,845.02 + 29 69,340.31 2,184,309.49 15,413,191.67 485,535,485.49 222.28 12,481,255.72 + 30 68,860.68 2,253,170.17 15,306,577.89 500,842,063.38 222.28 12,394,922.28 diff --git a/tests/examples/S-DAC-GT-2.txt b/tests/examples/S-DAC-GT-2.txt new file mode 100644 index 000000000..86b17b052 --- /dev/null +++ b/tests/examples/S-DAC-GT-2.txt @@ -0,0 +1,52 @@ +# Geothermal Combined Heat and Power Problem using a Thermal Drawdown Reservoir Model and SAM Economic Model and +# Solid Sorbent Direct Air Capture powered by geothermal +# Based on Example 3 description: This example problem considers an EGS reservoir at 3.1km depth. +# The heat is used in a combined heat and power topping cycle model with double flash as +# topping cycle and electricity considered as the main product. +# But only lists those parameters that are different than their default values + +Do S-DAC-GT Calculations, True + +***Subsurface technical parameters*** +************************************* +Reservoir Model,3, ---m/A Single Fracture Thermal Drawdown +Reservoir Depth,3.1, ---[km] +Number of Segments,1, ---[-] +Maximum Temperature,400, ---[deg.C] +Drawdown Parameter,.00002, ---[kg/s/m2] +Gradient 1,70, ---[deg.C/km] +Number of Production Wells,3, ---[-] +Number of Injection Wells,3, ---[-] +Production Well Diameter,8.5, ---[inch] +Injection Well Diameter,8.5, ---[inch] +Ramey Production Wellbore Model,0, ---Should be 0 (disabled) or 1 (enabled) +Production Flow Rate per Well,70, ---[kg/s] +Reservoir Volume Option,1, ---Should be 1 2 3 or 4. See manual for details. +Fracture Shape,1, ---Should be 1 2 3 or 4 +Fracture Area,200000, ---[m2] +Number of Fractures,12, ---[-] +Fracture Separation,80, ---[m] +Injectivity Index,5, ---[kg/s/bar] +Water Loss Fraction,0.02, ---[-] + +***Surface Technical Parameters*** +********************************** + +End-Use Option,31, ---CHP Topping Cycle with electricity as the main product +Power Plant Type,4, ---Double-Flash +Circulation Pump Efficiency,.80, ---[-] + +***Financial Parameters*** +************************** + +Economic Model, 5, -- SAM Single Owner PPA ---BICYCLE Levelized Cost Model +Inflated Equity Interest Rate,.08, ---[-] Required for BICYCLE model +Combined Income Tax Rate,.3, ---[-] Required for BICYCLE model +Gross Revenue Tax Rate,0, ---[-] Required for BICYCLE model +S-DAC-GT Carbon Credit Price, 180.0, ---[USD/tonne CO2] 45Q tax credit rate or voluntary market price + +***Simulation Parameters*** +*************************** + +Print Output to Console,1, ---Should be 1 (to print) or 0 (to not print) +Time steps per year,10, ---[-] From 00c07ac5b533bffaf61cd5dfb230a41d3782f77d Mon Sep 17 00:00:00 2001 From: softwareengineerprogrammer <4056124+softwareengineerprogrammer@users.noreply.github.com> Date: Tue, 19 May 2026 15:23:37 -0700 Subject: [PATCH 4/9] add S-DAC-GT-2 to README examples list --- README.rst | 4 ++++ 1 file changed, 4 insertions(+) diff --git a/README.rst b/README.rst index 26ec2530e..5a4df29d8 100644 --- a/README.rst +++ b/README.rst @@ -384,6 +384,10 @@ Example-specific web interface deeplinks are listed in the Link column. - `example_SAM-single-owner-PPA-9_cooling.txt `__ - `.out `__ - `link `__ + * - SAM Single Owner PPA: S-DAC + - `S-DAC-GT-2.txt `__ + - `.out `__ + - `link `__ .. raw:: html From 52aab3b4cc4c94ae76f76a94677960dc7004e2cd Mon Sep 17 00:00:00 2001 From: softwareengineerprogrammer <4056124+softwareengineerprogrammer@users.noreply.github.com> Date: Wed, 20 May 2026 07:42:27 -0700 Subject: [PATCH 5/9] ignore .junie --- .gitignore | 1 + 1 file changed, 1 insertion(+) diff --git a/.gitignore b/.gitignore index 5ccd7a2b2..f9376b532 100644 --- a/.gitignore +++ b/.gitignore @@ -88,6 +88,7 @@ nosetests.xml *.iml *.komodoproject .idea +.junie .project .pydevproject .vscode From aacd314fa8a7e3ed8f8759a4464a586a6c9cbf36 Mon Sep 17 00:00:00 2001 From: softwareengineerprogrammer <4056124+softwareengineerprogrammer@users.noreply.github.com> Date: Wed, 20 May 2026 08:35:50 -0700 Subject: [PATCH 6/9] WIP - adjusting S-DAC parameterization based on further research --- .gitignore | 1 + src/geophires_x/EconomicsS_DAC_GT.py | 34 ++- src/geophires_x/EconomicsSam.py | 72 ++++-- tests/examples/S-DAC-GT-2.out | 321 +++++++++++++-------------- 4 files changed, 236 insertions(+), 192 deletions(-) diff --git a/.gitignore b/.gitignore index f9376b532..9cc88850c 100644 --- a/.gitignore +++ b/.gitignore @@ -125,6 +125,7 @@ src/geophires_docs/fervo_project_red-2026_graph-data-extraction.xcf /Useful sites for Sphinx docstrings.txt /.github/workflows/workflows.7z tmp.patch +project-structure.txt # Mypy Cache .mypy_cache/ diff --git a/src/geophires_x/EconomicsS_DAC_GT.py b/src/geophires_x/EconomicsS_DAC_GT.py index 85abd9c66..2e4371786 100644 --- a/src/geophires_x/EconomicsS_DAC_GT.py +++ b/src/geophires_x/EconomicsS_DAC_GT.py @@ -219,7 +219,7 @@ def __init__(self, model: Model): ErrMessage="assume default Percent Energy Devoted To Process (50%)", ToolTipText="Percent Energy Devoted To Process (%)" ) - self.carbon_credit_price = floatParameter( + self.carbon_credit_price = self.ParameterDict[self.carbon_credit_price.Name] = floatParameter( "S-DAC-GT Carbon Credit Price", value=180.0, DefaultValue=180.0, @@ -231,7 +231,19 @@ def __init__(self, model: Model): ErrMessage="assume default Carbon Credit Price (180 USD per tonne CO2)", ToolTipText="Carbon Credit or Market Price (USD per tonne CO2)" ) - self.ParameterDict[self.carbon_credit_price.Name] = self.carbon_credit_price + + self.carbon_credit_duration = self.ParameterDict[self.carbon_credit_duration.Name] = floatParameter( + "S-DAC-GT Carbon Credit Duration", + value=12.0, + DefaultValue=12.0, + Min=0.0, + Max=100.0, + UnitType=Units.TIME, + PreferredUnits=TimeUnit.YEAR, + CurrentUnits=TimeUnit.YEAR, + ErrMessage="assume default Carbon Credit Duration (12 years)", + ToolTipText="Duration for which the carbon credit can be claimed (e.g., 12 years for US 45Q)" + ) # local variable initiation # Capital Recovery Rate or Fixed Charge Factor - set initially for definitions @@ -511,6 +523,13 @@ def range_check(self) -> tuple: storage_max) return True, error_message + if not (self.carbon_credit_duration.Min + <= self.carbon_credit_duration.value + <= self.carbon_credit_duration.Max): + error_message = "S-DAC-GT ERROR: Carbon Credit Duration should be between {} and {}".format( + self.carbon_credit_duration.Min, self.carbon_credit_duration.Max) + return True, error_message + return False, "" def geo_therm_cost(self, power_cost: float, CAPEX_mult: float, OPEX_mult: float, depth: float, @@ -703,16 +722,19 @@ def Calculate(self, model: Model) -> None: (self.CarbonExtractedAnnually.value[ i] * self.therm.value)) - # Calculate Carbon Revenue based on S-DAC-GT specific credit price + # Calculate Carbon Revenue based on S-DAC-GT specific credit price and duration self.CarbonRevenue.value = [0.0] * model.surfaceplant.plant_lifetime.value self.CarbonCummCashFlow.value = [0.0] * model.surfaceplant.plant_lifetime.value for i in range(0, model.surfaceplant.plant_lifetime.value, 1): - self.CarbonRevenue.value[i] = self.CarbonExtractedAnnually.value[i] * self.carbon_credit_price.value + # Enforce the parameterized statutory limit for tax credits + applicable_price = self.carbon_credit_price.value if i < self.carbon_credit_duration.value else 0.0 + + self.CarbonRevenue.value[i] = self.CarbonExtractedAnnually.value[i] * applicable_price if i == 0: self.CarbonCummCashFlow.value[i] = self.CarbonRevenue.value[i] else: - self.CarbonCummCashFlow.value[i] = self.CarbonCummCashFlow.value[i - 1] + self.CarbonRevenue.value[i] - + self.CarbonCummCashFlow.value[i] = self.CarbonCummCashFlow.value[i - 1] + \ + self.CarbonRevenue.value[i] self._calculate_derived_outputs(model) model.logger.info(f'Complete {str(__class__)}: {sys._getframe().f_code.co_name}') \ No newline at end of file diff --git a/src/geophires_x/EconomicsSam.py b/src/geophires_x/EconomicsSam.py index 18a91dd3b..daac092d5 100644 --- a/src/geophires_x/EconomicsSam.py +++ b/src/geophires_x/EconomicsSam.py @@ -678,15 +678,59 @@ def _get_single_owner_parameters(model: Model) -> dict[str, Any]: ret['federal_tax_rate'], ret['state_tax_rate'] = _get_fed_and_state_tax_rates(econ.CTR.value) geophires_itc_tenths = Decimal(econ.RITC.value) - ret['itc_fed_percent'] = [float(geophires_itc_tenths * Decimal(100))] - if econ.PTCElec.Provided: - ret['ptc_fed_amount'] = [econ.PTCElec.quantity().to(convertible_unit('USD/kWh')).magnitude] + if econ.DoSDACGTCalculations.value and geophires_itc_tenths > 0: + # Shield DAC CAPEX from ITC to prevent unlawful MACRS basis reduction + max_carbon_capacity_tonnes = max(model.sdacgteconomics.CarbonExtractedAnnually.value) + sdac_capex_usd = ( + model.sdacgteconomics.CAPEX.value * model.sdacgteconomics.CAPEX_mult.value * max_carbon_capacity_tonnes + ) + + # Geothermal eligible basis = Total Installed Cost - DAC CAPEX + eligible_geothermal_basis_usd = ret['total_installed_cost'] - sdac_capex_usd + itc_fed_amount_usd = float(Decimal(eligible_geothermal_basis_usd) * geophires_itc_tenths) - ret['ptc_fed_term'] = econ.PTCDuration.quantity().to(convertible_unit('yr')).magnitude + ret['itc_fed_percent'] = [0.0] # Disable percentage-based ITC on the whole project + ret['itc_fed_amount'] = [itc_fed_amount_usd] # Inject fixed ITC amount for geothermal only + else: + ret['itc_fed_percent'] = [float(geophires_itc_tenths * Decimal(100))] + + # Build a year-by-year schedule for the Federal Production Tax Credit + ptc_fed_amount_schedule = [0.0] * model.surfaceplant.plant_lifetime.value - if econ.PTCInflationAdjusted.value: - ret['ptc_fed_escal'] = _pct(econ.RINFL) + # 1. Base Electricity PTC + if econ.PTCElec.Provided: + base_ptc_rate = econ.PTCElec.quantity().to(convertible_unit('USD/kWh')).magnitude + ptc_term = int(econ.PTCDuration.quantity().to(convertible_unit('yr')).magnitude) + for i in range(min(ptc_term, model.surfaceplant.plant_lifetime.value)): + escalation = (1.0 + _pct(econ.RINFL) / 100.0) ** i if econ.PTCInflationAdjusted.value else 1.0 + ptc_fed_amount_schedule[i] = base_ptc_rate * escalation + + # 2. S-DAC 45Q Equivalent (Mapped as Non-Taxable PBI to avoid MACRS/Exclusivity issues) + if econ.DoSDACGTCalculations.value: + pbi_oth_amount_schedule = [0.0] * model.surfaceplant.plant_lifetime.value + + for i in range(model.surfaceplant.plant_lifetime.value): + # The statutory duration cutoff (e.g., 12 years) is already handled inside EconomicsS_DAC_GT.py + # so CarbonRevenue will naturally be 0.0 for years > 12. + sdac_revenue_usd = model.sdacgteconomics.CarbonRevenue.value[i] + net_kwh_produced = model.surfaceplant.NetkWhProduced.value[i] + + # Convert absolute S-DAC revenue (USD) into an equivalent USD/kWh PBI rate for SAM + if net_kwh_produced > 0: + pbi_oth_amount_schedule[i] = sdac_revenue_usd / net_kwh_produced + + if any(rate > 0.0 for rate in pbi_oth_amount_schedule): + ret['pbi_oth_amount'] = pbi_oth_amount_schedule + ret['pbi_oth_term'] = model.surfaceplant.plant_lifetime.value + ret['pbi_oth_tax_fed'] = 0.0 # Strictly exclude from Federal taxable gross income + ret['pbi_oth_tax_sta'] = 0.0 # Strictly exclude from State taxable gross income + + # Inject the combined array into SAM + if any(rate > 0.0 for rate in ptc_fed_amount_schedule): + ret['ptc_fed_amount'] = ptc_fed_amount_schedule + ret['ptc_fed_term'] = model.surfaceplant.plant_lifetime.value + ret['ptc_fed_escal'] = 0.0 # Escalation is already manually calculated in the array above # 'Property Tax Rate' geophires_ptr_tenths = Decimal(econ.PTR.value) @@ -758,22 +802,6 @@ def _price_vector(price_value: list[float]) -> list[float | str]: ) ret.append(carbon_revenue_source) - if econ.DoSDACGTCalculations.value: - # Pad the scalar price to match the full timeline array length required by SAM formatting - sdac_price_array = [0.0] * _pre_revenue_years_count(model) + [ - model.sdacgteconomics.carbon_credit_price.value - ] * model.surfaceplant.plant_lifetime.value - - sdac_revenue_source = CapacityPaymentRevenueSource( - name='S-DAC-GT Carbon credits', - revenue_usd=[round(it) for it in model.sdacgteconomics.CarbonRevenue.value], - price_label=f'S-DAC-GT Carbon credit price ({model.sdacgteconomics.carbon_credit_price.CurrentUnits.value})', - price=_price_vector(sdac_price_array), - amount_provided_label=f'S-DAC-GT Carbon Extracted ({model.sdacgteconomics.CarbonExtractedAnnually.CurrentUnits.value})', - amount_provided=model.sdacgteconomics.CarbonExtractedAnnually.value, - ) - ret.append(sdac_revenue_source) - def _get_revenue_usd_series(econ_revenue_output: OutputParameter) -> Iterable[float]: return [ round(it) diff --git a/tests/examples/S-DAC-GT-2.out b/tests/examples/S-DAC-GT-2.out index c2fcb1cb2..adb8ba8a0 100644 --- a/tests/examples/S-DAC-GT-2.out +++ b/tests/examples/S-DAC-GT-2.out @@ -5,16 +5,16 @@ Simulation Metadata ---------------------- GEOPHIRES Version: 3.13.8 - Simulation Date: 2026-05-19 - Simulation Time: 15:19 - Calculation Time: 0.200 sec + Simulation Date: 2026-05-20 + Simulation Time: 08:24 + Calculation Time: 0.194 sec ***SUMMARY OF RESULTS*** End-Use Option: Cogeneration Topping Cycle, Heat sales considered as extra income Average Net Electricity Production: 19.62 MW Average Direct-Use Heat Production: 13.19 MW - Electricity breakeven price: 15.11 cents/kWh + Electricity breakeven price: 2.77 cents/kWh Direct-Use heat breakeven price (LCOH): 0.00 USD/MMBTU Total CAPEX: 214.79 MUSD Electricity CAPEX ($/kWe): 9447 USD/kW @@ -34,11 +34,11 @@ Simulation Metadata WACC: 6.37 % Project lifetime: 30 yr Capacity factor: 90.0 % - Project NPV: -34.36 MUSD - After-tax IRR: 5.38 % - Project VIR=PI=PIR: 0.68 - Project MOIC: 1.19 - Project Payback Period: 15.64 yr + Project NPV: 40.11 MUSD + After-tax IRR: 16.85 % + Project VIR=PI=PIR: 1.33 + Project MOIC: 1.23 + Project Payback Period: 5.88 yr CHP: Percent cost allocation for electrical plant: 92.25 % ***ENGINEERING PARAMETERS*** @@ -216,8 +216,8 @@ Simulation Metadata *************************** * SAM CASH FLOW PROFILE * *************************** ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- - Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20 Year 21 Year 22 Year 23 Year 24 Year 25 Year 26 Year 27 Year 28 Year 29 Year 30 +-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- + Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20 Year 21 Year 22 Year 23 Year 24 Year 25 Year 26 Year 27 Year 28 Year 29 Year 30 CONSTRUCTION Capital expenditure schedule [construction] (%) 100.0 Overnight capital expenditure [construction] ($) -210,575,751 @@ -237,49 +237,42 @@ Installed cost [construction] ($) -214,787,267 After-tax net cash flow [construction] ($) -107,393,633 ENERGY -Electricity to grid (kWh) 0.0 164,262,593 164,262,593 164,262,523 164,259,927 164,237,860 164,153,030 163,946,512 163,565,140 162,974,410 162,160,536 161,126,671 159,887,568 158,464,763 156,882,914 155,167,311 153,342,313 151,430,456 149,452,029 147,424,931 145,364,714 143,284,728 141,196,317 139,109,029 137,030,835 134,968,328 132,926,914 130,910,978 128,924,033 126,968,851 125,142,526 -Electricity from grid (kWh) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -Electricity to grid net (kWh) 0.0 164,262,593 164,262,593 164,262,523 164,259,927 164,237,860 164,153,030 163,946,512 163,565,140 162,974,410 162,160,536 161,126,671 159,887,568 158,464,763 156,882,914 155,167,311 153,342,313 151,430,456 149,452,029 147,424,931 145,364,714 143,284,728 141,196,317 139,109,029 137,030,835 134,968,328 132,926,914 130,910,978 128,924,033 126,968,851 125,142,526 - -S-DAC-GT Carbon Extracted (tonne/yr) 0 78,330.80 78,330.80 78,330.79 78,330.21 78,325.28 78,306.33 78,260.16 78,174.81 78,042.38 77,859.43 77,626.22 77,345.52 77,021.56 76,659.30 76,263.89 75,840.32 75,393.28 74,927.04 74,445.39 73,951.72 73,448.95 72,939.63 72,425.96 71,909.81 71,392.80 70,876.27 70,361.40 69,849.14 69,340.31 68,860.68 +Electricity to grid (kWh) 0.0 164,262,593 164,262,593 164,262,523 164,259,927 164,237,860 164,153,030 163,946,512 163,565,140 162,974,410 162,160,536 161,126,671 159,887,568 158,464,763 156,882,914 155,167,311 153,342,313 151,430,456 149,452,029 147,424,931 145,364,714 143,284,728 141,196,317 139,109,029 137,030,835 134,968,328 132,926,914 130,910,978 128,924,033 126,968,851 125,142,526 +Electricity from grid (kWh) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 +Electricity to grid net (kWh) 0.0 164,262,593 164,262,593 164,262,523 164,259,927 164,237,860 164,153,030 163,946,512 163,565,140 162,974,410 162,160,536 161,126,671 159,887,568 158,464,763 156,882,914 155,167,311 153,342,313 151,430,456 149,452,029 147,424,931 145,364,714 143,284,728 141,196,317 139,109,029 137,030,835 134,968,328 132,926,914 130,910,978 128,924,033 126,968,851 125,142,526 REVENUE -PPA price (cents/kWh) 0.0 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 -PPA revenue ($) 0 9,034,443 9,034,443 9,034,439 9,034,296 9,033,082 9,028,417 9,017,058 8,996,083 8,963,593 8,918,829 8,861,967 8,793,816 8,715,562 8,628,560 8,534,202 8,433,827 8,328,675 8,219,862 8,108,371 7,995,059 7,880,660 7,765,797 7,650,997 7,536,696 7,423,258 7,310,980 7,200,104 7,090,822 6,983,287 6,882,839 -Curtailment payment revenue ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 - -S-DAC-GT Carbon credit price ($/tonne) 0.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 180.0 -S-DAC-GT Carbon credits revenue ($) 0 14,099,544 14,099,544 14,099,542 14,099,437 14,098,550 14,095,139 14,086,829 14,071,467 14,047,628 14,014,697 13,972,720 13,922,194 13,863,881 13,798,674 13,727,499 13,651,257 13,570,790 13,486,866 13,400,171 13,311,310 13,220,811 13,129,134 13,036,672 12,943,766 12,850,703 12,757,729 12,665,052 12,572,845 12,481,256 12,394,922 -equals: -Capacity payment revenue ($) 0 14,099,544 14,099,544 14,099,542 14,099,437 14,098,550 14,095,139 14,086,829 14,071,467 14,047,628 14,014,697 13,972,720 13,922,194 13,863,881 13,798,674 13,727,499 13,651,257 13,570,790 13,486,866 13,400,171 13,311,310 13,220,811 13,129,134 13,036,672 12,943,766 12,850,703 12,757,729 12,665,052 12,572,845 12,481,256 12,394,922 - -Salvage value ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 107,393,633 -Total revenue ($) 0 23,133,987 23,133,987 23,133,981 23,133,733 23,131,632 23,123,556 23,103,887 23,067,550 23,011,221 22,933,526 22,834,687 22,716,010 22,579,443 22,427,234 22,261,701 22,085,084 21,899,465 21,706,728 21,508,542 21,306,369 21,101,471 20,894,931 20,687,669 20,480,462 20,273,961 20,068,709 19,865,156 19,663,667 19,464,543 126,671,394 +PPA price (cents/kWh) 0.0 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 +PPA revenue ($) 0 9,034,443 9,034,443 9,034,439 9,034,296 9,033,082 9,028,417 9,017,058 8,996,083 8,963,593 8,918,829 8,861,967 8,793,816 8,715,562 8,628,560 8,534,202 8,433,827 8,328,675 8,219,862 8,108,371 7,995,059 7,880,660 7,765,797 7,650,997 7,536,696 7,423,258 7,310,980 7,200,104 7,090,822 6,983,287 6,882,839 +Curtailment payment revenue ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Capacity payment revenue ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Salvage value ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 107,393,633 +Total revenue ($) 0 9,034,443 9,034,443 9,034,439 9,034,296 9,033,082 9,028,417 9,017,058 8,996,083 8,963,593 8,918,829 8,861,967 8,793,816 8,715,562 8,628,560 8,534,202 8,433,827 8,328,675 8,219,862 8,108,371 7,995,059 7,880,660 7,765,797 7,650,997 7,536,696 7,423,258 7,310,980 7,200,104 7,090,822 6,983,287 114,276,472 -Property tax net assessed value ($) 0 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 +Property tax net assessed value ($) 0 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 OPERATING EXPENSES -O&M fixed expense ($) 0 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 -O&M production-based expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -O&M capacity-based expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Fuel expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Electricity purchase ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Property tax expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Insurance expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Total operating expenses ($) 0 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 +O&M fixed expense ($) 0 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 +O&M production-based expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +O&M capacity-based expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Fuel expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Electricity purchase ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Property tax expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Insurance expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Total operating expenses ($) 0 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 -EBITDA ($) 0 14,236,483 14,236,483 14,236,477 14,236,229 14,234,129 14,226,052 14,206,384 14,170,046 14,113,717 14,036,023 13,937,183 13,818,507 13,681,939 13,529,731 13,364,197 13,187,581 13,001,961 12,809,224 12,611,039 12,408,866 12,203,967 11,997,428 11,790,165 11,582,958 11,376,457 11,171,206 10,967,652 10,766,163 10,567,039 117,773,891 +EBITDA ($) 0 136,939 136,939 136,935 136,792 135,579 130,913 119,555 98,579 66,089 21,326 -35,537 -103,687 -181,942 -268,943 -363,302 -463,676 -568,829 -677,642 -789,132 -902,444 -1,016,844 -1,131,706 -1,246,507 -1,360,808 -1,474,246 -1,586,523 -1,697,400 -1,806,682 -1,914,217 105,378,969 OPERATING ACTIVITIES -EBITDA ($) 0 14,236,483 14,236,483 14,236,477 14,236,229 14,234,129 14,226,052 14,206,384 14,170,046 14,113,717 14,036,023 13,937,183 13,818,507 13,681,939 13,529,731 13,364,197 13,187,581 13,001,961 12,809,224 12,611,039 12,408,866 12,203,967 11,997,428 11,790,165 11,582,958 11,376,457 11,171,206 10,967,652 10,766,163 10,567,039 117,773,891 -Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +EBITDA ($) 0 136,939 136,939 136,935 136,792 135,579 130,913 119,555 98,579 66,089 21,326 -35,537 -103,687 -181,942 -268,943 -363,302 -463,676 -568,829 -677,642 -789,132 -902,444 -1,016,844 -1,131,706 -1,246,507 -1,360,808 -1,474,246 -1,586,523 -1,697,400 -1,806,682 -1,914,217 105,378,969 +Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 plus PBI if not available for debt service: -Federal PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -State PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Utility PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Other PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Debt interest payment ($) 0 5,369,682 5,288,860 5,203,998 5,114,892 5,021,331 4,923,092 4,819,941 4,711,633 4,597,909 4,478,499 4,353,119 4,221,469 4,083,237 3,938,093 3,785,692 3,625,672 3,457,650 3,281,227 3,095,983 2,901,476 2,697,244 2,482,801 2,257,636 2,021,212 1,772,967 1,512,310 1,238,620 951,246 649,502 332,672 -Cash flow from operating activities ($) 0 8,866,801 8,947,623 9,032,479 9,121,337 9,212,797 9,302,960 9,386,442 9,458,413 9,515,808 9,557,524 9,584,065 9,597,038 9,598,702 9,591,637 9,578,505 9,561,909 9,544,312 9,527,997 9,515,056 9,507,389 9,506,723 9,514,627 9,532,529 9,561,746 9,603,490 9,658,896 9,729,032 9,814,918 9,917,537 117,441,219 +Federal PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Utility PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Other PBI income ($) 0 24,739,584 24,739,584 24,739,579 24,739,396 24,737,839 24,731,853 24,717,273 24,690,318 24,648,489 24,590,708 24,517,054 24,428,398 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Debt interest payment ($) 0 5,369,682 5,288,860 5,203,998 5,114,892 5,021,331 4,923,092 4,819,941 4,711,633 4,597,909 4,478,499 4,353,119 4,221,469 4,083,237 3,938,093 3,785,692 3,625,672 3,457,650 3,281,227 3,095,983 2,901,476 2,697,244 2,482,801 2,257,636 2,021,212 1,772,967 1,512,310 1,238,620 951,246 649,502 332,672 +Cash flow from operating activities ($) 0 19,506,841 19,587,663 19,672,516 19,761,296 19,852,087 19,939,674 20,016,886 20,077,264 20,116,669 20,133,535 20,128,398 20,103,241 -4,265,179 -4,207,037 -4,148,994 -4,089,348 -4,026,478 -3,958,869 -3,885,115 -3,803,921 -3,714,088 -3,614,507 -3,504,143 -3,382,020 -3,247,213 -3,098,833 -2,936,020 -2,757,927 -2,563,719 105,046,297 INVESTING ACTIVITIES Total installed cost ($) -214,787,267 @@ -291,99 +284,99 @@ Total CBI income ($) 0 equals: Purchase of property ($) -214,787,267 plus: -Reserve (increase)/decrease debt service ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserve (increase)/decrease working capital ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserve (increase)/decrease receivables ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserve (increase)/decrease major equipment 1 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserve (increase)/decrease major equipment 2 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserve (increase)/decrease major equipment 3 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserve capital spending major equipment 1 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserve capital spending major equipment 2 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserve capital spending major equipment 3 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserve (increase)/decrease debt service ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserve (increase)/decrease working capital ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserve (increase)/decrease receivables ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserve (increase)/decrease major equipment 1 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserve (increase)/decrease major equipment 2 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserve (increase)/decrease major equipment 3 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserve capital spending major equipment 1 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserve capital spending major equipment 2 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserve capital spending major equipment 3 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 equals: -Cash flow from investing activities ($) -214,787,267 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Cash flow from investing activities ($) -214,787,267 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 FINANCING ACTIVITIES Issuance of equity ($) 107,393,633 Size of debt ($) 107,393,633 minus: -Debt principal payment ($) 0 1,616,428 1,697,250 1,782,112 1,871,218 1,964,779 2,063,018 2,166,169 2,274,477 2,388,201 2,507,611 2,632,991 2,764,641 2,902,873 3,048,017 3,200,417 3,360,438 3,528,460 3,704,883 3,890,127 4,084,634 4,288,865 4,503,309 4,728,474 4,964,898 5,213,143 5,473,800 5,747,490 6,034,864 6,336,608 6,653,438 +Debt principal payment ($) 0 1,616,428 1,697,250 1,782,112 1,871,218 1,964,779 2,063,018 2,166,169 2,274,477 2,388,201 2,507,611 2,632,991 2,764,641 2,902,873 3,048,017 3,200,417 3,360,438 3,528,460 3,704,883 3,890,127 4,084,634 4,288,865 4,503,309 4,728,474 4,964,898 5,213,143 5,473,800 5,747,490 6,034,864 6,336,608 6,653,438 equals: -Cash flow from financing activities ($) 214,787,267 -1,616,428 -1,697,250 -1,782,112 -1,871,218 -1,964,779 -2,063,018 -2,166,169 -2,274,477 -2,388,201 -2,507,611 -2,632,991 -2,764,641 -2,902,873 -3,048,017 -3,200,417 -3,360,438 -3,528,460 -3,704,883 -3,890,127 -4,084,634 -4,288,865 -4,503,309 -4,728,474 -4,964,898 -5,213,143 -5,473,800 -5,747,490 -6,034,864 -6,336,608 -6,653,438 +Cash flow from financing activities ($) 214,787,267 -1,616,428 -1,697,250 -1,782,112 -1,871,218 -1,964,779 -2,063,018 -2,166,169 -2,274,477 -2,388,201 -2,507,611 -2,632,991 -2,764,641 -2,902,873 -3,048,017 -3,200,417 -3,360,438 -3,528,460 -3,704,883 -3,890,127 -4,084,634 -4,288,865 -4,503,309 -4,728,474 -4,964,898 -5,213,143 -5,473,800 -5,747,490 -6,034,864 -6,336,608 -6,653,438 PROJECT RETURNS Pre-tax Cash Flow: -Cash flow from operating activities ($) 0 8,866,801 8,947,623 9,032,479 9,121,337 9,212,797 9,302,960 9,386,442 9,458,413 9,515,808 9,557,524 9,584,065 9,597,038 9,598,702 9,591,637 9,578,505 9,561,909 9,544,312 9,527,997 9,515,056 9,507,389 9,506,723 9,514,627 9,532,529 9,561,746 9,603,490 9,658,896 9,729,032 9,814,918 9,917,537 117,441,219 -Cash flow from investing activities ($) -214,787,267 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Cash flow from financing activities ($) 214,787,267 -1,616,428 -1,697,250 -1,782,112 -1,871,218 -1,964,779 -2,063,018 -2,166,169 -2,274,477 -2,388,201 -2,507,611 -2,632,991 -2,764,641 -2,902,873 -3,048,017 -3,200,417 -3,360,438 -3,528,460 -3,704,883 -3,890,127 -4,084,634 -4,288,865 -4,503,309 -4,728,474 -4,964,898 -5,213,143 -5,473,800 -5,747,490 -6,034,864 -6,336,608 -6,653,438 -Total pre-tax cash flow ($) 0 7,250,373 7,250,373 7,250,367 7,250,119 7,248,019 7,239,942 7,220,274 7,183,936 7,127,607 7,049,913 6,951,073 6,832,397 6,695,829 6,543,621 6,378,088 6,201,471 6,015,851 5,823,114 5,624,929 5,422,756 5,217,857 5,011,318 4,804,055 4,596,848 4,390,347 4,185,096 3,981,542 3,780,053 3,580,929 110,787,781 +Cash flow from operating activities ($) 0 19,506,841 19,587,663 19,672,516 19,761,296 19,852,087 19,939,674 20,016,886 20,077,264 20,116,669 20,133,535 20,128,398 20,103,241 -4,265,179 -4,207,037 -4,148,994 -4,089,348 -4,026,478 -3,958,869 -3,885,115 -3,803,921 -3,714,088 -3,614,507 -3,504,143 -3,382,020 -3,247,213 -3,098,833 -2,936,020 -2,757,927 -2,563,719 105,046,297 +Cash flow from investing activities ($) -214,787,267 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Cash flow from financing activities ($) 214,787,267 -1,616,428 -1,697,250 -1,782,112 -1,871,218 -1,964,779 -2,063,018 -2,166,169 -2,274,477 -2,388,201 -2,507,611 -2,632,991 -2,764,641 -2,902,873 -3,048,017 -3,200,417 -3,360,438 -3,528,460 -3,704,883 -3,890,127 -4,084,634 -4,288,865 -4,503,309 -4,728,474 -4,964,898 -5,213,143 -5,473,800 -5,747,490 -6,034,864 -6,336,608 -6,653,438 +Total pre-tax cash flow ($) 0 17,890,413 17,890,413 17,890,404 17,890,078 17,887,308 17,876,656 17,850,718 17,802,787 17,728,468 17,625,924 17,495,407 17,338,600 -7,168,052 -7,255,053 -7,349,411 -7,449,786 -7,554,939 -7,663,752 -7,775,242 -7,888,554 -8,002,954 -8,117,816 -8,232,617 -8,346,918 -8,460,356 -8,572,633 -8,683,510 -8,792,792 -8,900,327 98,392,859 Pre-tax Returns: Issuance of equity ($) 107,393,633 -Total pre-tax cash flow ($) 0 7,250,373 7,250,373 7,250,367 7,250,119 7,248,019 7,239,942 7,220,274 7,183,936 7,127,607 7,049,913 6,951,073 6,832,397 6,695,829 6,543,621 6,378,088 6,201,471 6,015,851 5,823,114 5,624,929 5,422,756 5,217,857 5,011,318 4,804,055 4,596,848 4,390,347 4,185,096 3,981,542 3,780,053 3,580,929 110,787,781 -Total pre-tax returns ($) -107,393,633 7,250,373 7,250,373 7,250,367 7,250,119 7,248,019 7,239,942 7,220,274 7,183,936 7,127,607 7,049,913 6,951,073 6,832,397 6,695,829 6,543,621 6,378,088 6,201,471 6,015,851 5,823,114 5,624,929 5,422,756 5,217,857 5,011,318 4,804,055 4,596,848 4,390,347 4,185,096 3,981,542 3,780,053 3,580,929 110,787,781 +Total pre-tax cash flow ($) 0 17,890,413 17,890,413 17,890,404 17,890,078 17,887,308 17,876,656 17,850,718 17,802,787 17,728,468 17,625,924 17,495,407 17,338,600 -7,168,052 -7,255,053 -7,349,411 -7,449,786 -7,554,939 -7,663,752 -7,775,242 -7,888,554 -8,002,954 -8,117,816 -8,232,617 -8,346,918 -8,460,356 -8,572,633 -8,683,510 -8,792,792 -8,900,327 98,392,859 +Total pre-tax returns ($) -107,393,633 17,890,413 17,890,413 17,890,404 17,890,078 17,887,308 17,876,656 17,850,718 17,802,787 17,728,468 17,625,924 17,495,407 17,338,600 -7,168,052 -7,255,053 -7,349,411 -7,449,786 -7,554,939 -7,663,752 -7,775,242 -7,888,554 -8,002,954 -8,117,816 -8,232,617 -8,346,918 -8,460,356 -8,572,633 -8,683,510 -8,792,792 -8,900,327 98,392,859 After-tax Returns: -Total pre-tax returns ($) -107,393,633 7,250,373 7,250,373 7,250,367 7,250,119 7,248,019 7,239,942 7,220,274 7,183,936 7,127,607 7,049,913 6,951,073 6,832,397 6,695,829 6,543,621 6,378,088 6,201,471 6,015,851 5,823,114 5,624,929 5,422,756 5,217,857 5,011,318 4,804,055 4,596,848 4,390,347 4,185,096 3,981,542 3,780,053 3,580,929 110,787,781 -Federal ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Federal PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Federal tax benefit (liability) ($) 0 -668,300 342,402 326,186 309,205 291,727 274,497 258,543 244,790 233,821 225,850 220,778 218,298 217,980 219,330 221,840 225,012 228,374 231,492 233,965 235,430 -790,589 -1,818,245 -1,821,666 -1,827,250 -1,835,227 -1,845,815 -1,859,218 -1,875,631 -1,895,241 -22,443,017 -State ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -State PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -State tax benefit (liability) ($) 0 -314,741 161,257 153,620 145,622 137,391 129,276 121,763 115,286 110,120 106,366 103,977 102,809 102,659 103,295 104,477 105,971 107,555 109,023 110,188 110,878 -372,334 -856,316 -857,928 -860,557 -864,314 -869,301 -875,613 -883,343 -892,578 -10,569,710 -Total after-tax returns ($) -107,393,633 6,267,333 7,754,031 7,730,172 7,704,947 7,677,136 7,643,715 7,600,580 7,544,011 7,471,548 7,382,128 7,275,828 7,153,504 7,016,469 6,866,246 6,704,405 6,532,453 6,351,780 6,163,629 5,969,081 5,769,064 4,054,935 2,336,756 2,124,461 1,909,041 1,690,806 1,469,980 1,246,711 1,021,080 793,110 77,775,054 - -After-tax net cash flow ($) -107,393,633 6,267,333 7,754,031 7,730,172 7,704,947 7,677,136 7,643,715 7,600,580 7,544,011 7,471,548 7,382,128 7,275,828 7,153,504 7,016,469 6,866,246 6,704,405 6,532,453 6,351,780 6,163,629 5,969,081 5,769,064 4,054,935 2,336,756 2,124,461 1,909,041 1,690,806 1,469,980 1,246,711 1,021,080 793,110 77,775,054 -After-tax cumulative IRR (%) NaN -94.16 -70.05 -50.38 -36.64 -27.04 -20.17 -15.11 -11.30 -8.36 -6.06 -4.22 -2.74 -1.54 -0.54 0.28 0.97 1.55 2.05 2.47 2.82 3.05 3.17 3.28 3.36 3.43 3.49 3.54 3.58 3.61 5.38 -After-tax cumulative NPV ($) -107,393,633 -101,651,162 -95,141,482 -89,195,312 -83,764,887 -78,807,195 -74,284,464 -70,163,877 -66,416,471 -63,015,875 -59,937,354 -57,157,264 -54,652,819 -52,402,069 -50,383,963 -48,578,448 -46,966,567 -45,530,521 -44,253,713 -43,120,759 -42,117,469 -41,471,338 -41,130,171 -40,845,975 -40,611,983 -40,422,096 -40,270,835 -40,153,291 -40,065,083 -40,002,306 -34,361,751 +Total pre-tax returns ($) -107,393,633 17,890,413 17,890,413 17,890,404 17,890,078 17,887,308 17,876,656 17,850,718 17,802,787 17,728,468 17,625,924 17,495,407 17,338,600 -7,168,052 -7,255,053 -7,349,411 -7,449,786 -7,554,939 -7,663,752 -7,775,242 -7,888,554 -8,002,954 -8,117,816 -8,232,617 -8,346,918 -8,460,356 -8,572,633 -8,683,510 -8,792,792 -8,900,327 98,392,859 +Federal ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Federal PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Federal tax benefit (liability) ($) 0 2,026,123 3,036,824 3,020,608 3,003,607 2,985,960 2,968,078 2,950,536 2,933,847 2,918,323 2,904,058 2,890,964 2,878,830 2,867,368 2,856,257 2,845,165 2,833,767 2,821,752 2,808,832 2,794,738 2,779,222 1,735,908 690,732 669,642 646,304 620,542 592,187 561,073 527,040 489,927 -20,074,347 +State ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State tax benefit (liability) ($) 0 954,218 1,430,216 1,422,578 1,414,572 1,406,260 1,397,839 1,389,578 1,381,718 1,374,407 1,367,688 1,361,522 1,355,807 1,350,409 1,345,176 1,339,952 1,334,584 1,328,926 1,322,841 1,316,203 1,308,896 817,539 325,306 315,373 304,382 292,249 278,895 264,242 248,213 230,735 -9,454,167 +Total after-tax returns ($) -107,393,633 20,870,754 22,357,453 22,333,591 22,308,257 22,279,528 22,242,573 22,190,831 22,118,351 22,021,198 21,897,671 21,747,893 21,573,237 -2,950,275 -3,053,620 -3,164,294 -3,281,436 -3,404,260 -3,532,079 -3,664,302 -3,800,437 -5,449,506 -7,101,778 -7,247,602 -7,396,232 -7,547,564 -7,701,551 -7,858,195 -8,017,538 -8,179,665 68,864,345 + +After-tax net cash flow ($) -107,393,633 20,870,754 22,357,453 22,333,591 22,308,257 22,279,528 22,242,573 22,190,831 22,118,351 22,021,198 21,897,671 21,747,893 21,573,237 -2,950,275 -3,053,620 -3,164,294 -3,281,436 -3,404,260 -3,532,079 -3,664,302 -3,800,437 -5,449,506 -7,101,778 -7,247,602 -7,396,232 -7,547,564 -7,701,551 -7,858,195 -8,017,538 -8,179,665 68,864,345 +After-tax cumulative IRR (%) NaN -80.57 -43.63 -20.95 -7.50 0.84 6.28 9.96 12.53 14.38 15.73 16.74 17.51 17.42 17.35 17.28 17.22 17.16 17.11 17.07 17.03 16.98 -14.19 -11.80 -9.89 -8.32 -6.99 -5.85 -4.85 -3.99 16.85 +After-tax cumulative NPV ($) -107,393,633 -88,270,714 -69,501,139 -52,321,790 -36,598,992 -22,211,462 -9,050,691 2,979,871 13,966,922 23,989,638 33,121,481 41,431,341 48,984,140 48,037,748 47,140,237 46,288,084 45,478,390 44,708,736 43,977,060 43,281,561 42,620,632 41,752,284 40,715,423 39,745,888 38,839,330 37,991,697 37,199,204 36,458,309 35,765,697 35,118,255 40,112,570 AFTER-TAX LCOE AND PPA PRICE -Annual costs ($) -107,393,633 -16,866,654 -15,379,955 -15,403,809 -15,428,786 -15,454,496 -15,479,841 -15,503,307 -15,523,538 -15,539,672 -15,551,398 -15,558,859 -15,562,506 -15,562,974 -15,560,988 -15,557,296 -15,552,631 -15,547,685 -15,543,099 -15,539,461 -15,537,306 -17,046,536 -18,558,175 -18,563,208 -18,571,420 -18,583,155 -18,598,729 -18,618,445 -18,642,587 -18,671,433 58,497,293 -PPA revenue ($) 0 9,034,443 9,034,443 9,034,439 9,034,296 9,033,082 9,028,417 9,017,058 8,996,083 8,963,593 8,918,829 8,861,967 8,793,816 8,715,562 8,628,560 8,534,202 8,433,827 8,328,675 8,219,862 8,108,371 7,995,059 7,880,660 7,765,797 7,650,997 7,536,696 7,423,258 7,310,980 7,200,104 7,090,822 6,983,287 6,882,839 -Electricity to grid (kWh) 0 164,262,593 164,262,593 164,262,523 164,259,927 164,237,860 164,153,030 163,946,512 163,565,140 162,974,410 162,160,536 161,126,671 159,887,568 158,464,763 156,882,914 155,167,311 153,342,313 151,430,456 149,452,029 147,424,931 145,364,714 143,284,728 141,196,317 139,109,029 137,030,835 134,968,328 132,926,914 130,910,978 128,924,033 126,968,851 125,142,526 +Annual costs ($) -107,393,633 11,836,312 13,323,010 13,299,152 13,273,961 13,246,446 13,214,156 13,173,773 13,122,269 13,057,605 12,978,841 12,885,926 12,779,420 -11,665,837 -11,682,181 -11,698,496 -11,715,263 -11,732,936 -11,751,941 -11,772,673 -11,795,497 -13,330,166 -14,867,576 -14,898,599 -14,932,928 -14,970,822 -15,012,532 -15,058,298 -15,108,360 -15,162,952 61,981,506 +PPA revenue ($) 0 9,034,443 9,034,443 9,034,439 9,034,296 9,033,082 9,028,417 9,017,058 8,996,083 8,963,593 8,918,829 8,861,967 8,793,816 8,715,562 8,628,560 8,534,202 8,433,827 8,328,675 8,219,862 8,108,371 7,995,059 7,880,660 7,765,797 7,650,997 7,536,696 7,423,258 7,310,980 7,200,104 7,090,822 6,983,287 6,882,839 +Electricity to grid (kWh) 0 164,262,593 164,262,593 164,262,523 164,259,927 164,237,860 164,153,030 163,946,512 163,565,140 162,974,410 162,160,536 161,126,671 159,887,568 158,464,763 156,882,914 155,167,311 153,342,313 151,430,456 149,452,029 147,424,931 145,364,714 143,284,728 141,196,317 139,109,029 137,030,835 134,968,328 132,926,914 130,910,978 128,924,033 126,968,851 125,142,526 -Present value of annual costs ($) 263,456,689 +Present value of annual costs ($) 48,355,665 -Present value of annual energy costs ($) 243,045,091 +Present value of annual energy costs ($) 44,609,256 Present value of annual energy nominal (kWh) 1,608,513,342 -LCOE Levelized cost of energy nominal (cents/kWh) 15.11 +LCOE Levelized cost of energy nominal (cents/kWh) 2.77 Present value of PPA revenue ($) 88,468,234 Present value of annual energy nominal (kWh) 1,608,513,342 LPPA Levelized PPA price nominal (cents/kWh) 5.50 PROJECT STATE INCOME TAXES -EBITDA ($) 0 14,236,483 14,236,483 14,236,477 14,236,229 14,234,129 14,226,052 14,206,384 14,170,046 14,113,717 14,036,023 13,937,183 13,818,507 13,681,939 13,529,731 13,364,197 13,187,581 13,001,961 12,809,224 12,611,039 12,408,866 12,203,967 11,997,428 11,790,165 11,582,958 11,376,457 11,171,206 10,967,652 10,766,163 10,567,039 117,773,891 -State taxable PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +EBITDA ($) 0 136,939 136,939 136,935 136,792 135,579 130,913 119,555 98,579 66,089 21,326 -35,537 -103,687 -181,942 -268,943 -363,302 -463,676 -568,829 -677,642 -789,132 -902,444 -1,016,844 -1,131,706 -1,246,507 -1,360,808 -1,474,246 -1,586,523 -1,697,400 -1,806,682 -1,914,217 105,378,969 +State taxable PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 State taxable IBI income ($) 0 State taxable CBI income ($) 0 minus: -Debt interest payment ($) 0 5,369,682 5,288,860 5,203,998 5,114,892 5,021,331 4,923,092 4,819,941 4,711,633 4,597,909 4,478,499 4,353,119 4,221,469 4,083,237 3,938,093 3,785,692 3,625,672 3,457,650 3,281,227 3,095,983 2,901,476 2,697,244 2,482,801 2,257,636 2,021,212 1,772,967 1,512,310 1,238,620 951,246 649,502 332,672 -Total state tax depreciation ($) 0 5,369,682 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 5,369,682 0 0 0 0 0 0 0 0 0 +Debt interest payment ($) 0 5,369,682 5,288,860 5,203,998 5,114,892 5,021,331 4,923,092 4,819,941 4,711,633 4,597,909 4,478,499 4,353,119 4,221,469 4,083,237 3,938,093 3,785,692 3,625,672 3,457,650 3,281,227 3,095,983 2,901,476 2,697,244 2,482,801 2,257,636 2,021,212 1,772,967 1,512,310 1,238,620 951,246 649,502 332,672 +Total state tax depreciation ($) 0 5,369,682 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 5,369,682 0 0 0 0 0 0 0 0 0 equals: -State taxable income ($) 0 3,497,120 -1,791,741 -1,706,884 -1,618,026 -1,526,566 -1,436,404 -1,352,921 -1,280,950 -1,223,556 -1,181,840 -1,155,299 -1,142,326 -1,140,661 -1,147,726 -1,160,858 -1,177,454 -1,195,052 -1,211,366 -1,224,307 -1,231,974 4,137,041 9,514,627 9,532,529 9,561,746 9,603,490 9,658,896 9,729,032 9,814,918 9,917,537 117,441,219 +State taxable income ($) 0 -10,602,424 -15,891,285 -15,806,426 -15,717,463 -15,625,116 -15,531,543 -15,439,750 -15,352,417 -15,271,184 -15,196,537 -15,128,019 -15,064,520 -15,004,542 -14,946,400 -14,888,357 -14,828,711 -14,765,842 -14,698,232 -14,624,478 -14,543,284 -9,083,770 -3,614,507 -3,504,143 -3,382,020 -3,247,213 -3,098,833 -2,936,020 -2,757,927 -2,563,719 105,046,297 -State income tax rate (frac) 0.0 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 -State tax benefit (liability) ($) 0 -314,741 161,257 153,620 145,622 137,391 129,276 121,763 115,286 110,120 106,366 103,977 102,809 102,659 103,295 104,477 105,971 107,555 109,023 110,188 110,878 -372,334 -856,316 -857,928 -860,557 -864,314 -869,301 -875,613 -883,343 -892,578 -10,569,710 +State income tax rate (frac) 0.0 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 +State tax benefit (liability) ($) 0 954,218 1,430,216 1,422,578 1,414,572 1,406,260 1,397,839 1,389,578 1,381,718 1,374,407 1,367,688 1,361,522 1,355,807 1,350,409 1,345,176 1,339,952 1,334,584 1,328,926 1,322,841 1,316,203 1,308,896 817,539 325,306 315,373 304,382 292,249 278,895 264,242 248,213 230,735 -9,454,167 PROJECT FEDERAL INCOME TAXES -EBITDA ($) 0 14,236,483 14,236,483 14,236,477 14,236,229 14,234,129 14,226,052 14,206,384 14,170,046 14,113,717 14,036,023 13,937,183 13,818,507 13,681,939 13,529,731 13,364,197 13,187,581 13,001,961 12,809,224 12,611,039 12,408,866 12,203,967 11,997,428 11,790,165 11,582,958 11,376,457 11,171,206 10,967,652 10,766,163 10,567,039 117,773,891 -Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -State tax benefit (liability) ($) 0 -314,741 161,257 153,620 145,622 137,391 129,276 121,763 115,286 110,120 106,366 103,977 102,809 102,659 103,295 104,477 105,971 107,555 109,023 110,188 110,878 -372,334 -856,316 -857,928 -860,557 -864,314 -869,301 -875,613 -883,343 -892,578 -10,569,710 -State ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -State PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +EBITDA ($) 0 136,939 136,939 136,935 136,792 135,579 130,913 119,555 98,579 66,089 21,326 -35,537 -103,687 -181,942 -268,943 -363,302 -463,676 -568,829 -677,642 -789,132 -902,444 -1,016,844 -1,131,706 -1,246,507 -1,360,808 -1,474,246 -1,586,523 -1,697,400 -1,806,682 -1,914,217 105,378,969 +Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State tax benefit (liability) ($) 0 954,218 1,430,216 1,422,578 1,414,572 1,406,260 1,397,839 1,389,578 1,381,718 1,374,407 1,367,688 1,361,522 1,355,807 1,350,409 1,345,176 1,339,952 1,334,584 1,328,926 1,322,841 1,316,203 1,308,896 817,539 325,306 315,373 304,382 292,249 278,895 264,242 248,213 230,735 -9,454,167 +State ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal taxable IBI income ($) 0 Federal taxable CBI income ($) 0 -Federal taxable PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Federal taxable PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 minus: -Debt interest payment ($) 0 5,369,682 5,288,860 5,203,998 5,114,892 5,021,331 4,923,092 4,819,941 4,711,633 4,597,909 4,478,499 4,353,119 4,221,469 4,083,237 3,938,093 3,785,692 3,625,672 3,457,650 3,281,227 3,095,983 2,901,476 2,697,244 2,482,801 2,257,636 2,021,212 1,772,967 1,512,310 1,238,620 951,246 649,502 332,672 -Total federal tax depreciation ($) 0 5,369,682 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 5,369,682 0 0 0 0 0 0 0 0 0 +Debt interest payment ($) 0 5,369,682 5,288,860 5,203,998 5,114,892 5,021,331 4,923,092 4,819,941 4,711,633 4,597,909 4,478,499 4,353,119 4,221,469 4,083,237 3,938,093 3,785,692 3,625,672 3,457,650 3,281,227 3,095,983 2,901,476 2,697,244 2,482,801 2,257,636 2,021,212 1,772,967 1,512,310 1,238,620 951,246 649,502 332,672 +Total federal tax depreciation ($) 0 5,369,682 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 5,369,682 0 0 0 0 0 0 0 0 0 equals: -Federal taxable income ($) 0 3,182,379 -1,630,484 -1,553,264 -1,472,404 -1,389,175 -1,307,127 -1,231,158 -1,165,665 -1,113,436 -1,075,474 -1,051,322 -1,039,516 -1,038,001 -1,044,431 -1,056,381 -1,071,484 -1,087,497 -1,102,343 -1,114,120 -1,121,096 3,764,708 8,658,310 8,674,602 8,701,189 8,739,176 8,789,595 8,853,419 8,931,575 9,024,959 106,871,509 +Federal taxable income ($) 0 -9,648,206 -14,461,069 -14,383,848 -14,302,891 -14,218,855 -14,133,704 -14,050,173 -13,970,700 -13,896,777 -13,828,848 -13,766,497 -13,708,713 -13,654,133 -13,601,224 -13,548,405 -13,494,127 -13,436,916 -13,375,391 -13,308,275 -13,234,388 -8,266,230 -3,289,202 -3,188,770 -3,077,638 -2,954,964 -2,819,938 -2,671,778 -2,509,714 -2,332,984 95,592,130 -Federal income tax rate (frac) 0.0 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 -Federal tax benefit (liability) ($) 0 -668,300 342,402 326,186 309,205 291,727 274,497 258,543 244,790 233,821 225,850 220,778 218,298 217,980 219,330 221,840 225,012 228,374 231,492 233,965 235,430 -790,589 -1,818,245 -1,821,666 -1,827,250 -1,835,227 -1,845,815 -1,859,218 -1,875,631 -1,895,241 -22,443,017 +Federal income tax rate (frac) 0.0 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 +Federal tax benefit (liability) ($) 0 2,026,123 3,036,824 3,020,608 3,003,607 2,985,960 2,968,078 2,950,536 2,933,847 2,918,323 2,904,058 2,890,964 2,878,830 2,867,368 2,856,257 2,845,165 2,833,767 2,821,752 2,808,832 2,794,738 2,779,222 1,735,908 690,732 669,642 646,304 620,542 592,187 561,073 527,040 489,927 -20,074,347 CASH INCENTIVES Federal IBI income ($) 0 @@ -398,71 +391,71 @@ Utility CBI income ($) 0 Other CBI income ($) 0 Total CBI income ($) 0 -Federal PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -State PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Utility PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Other PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Total PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Federal PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Utility PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Other PBI income ($) 0 24,739,584 24,739,584 24,739,579 24,739,396 24,737,839 24,731,853 24,717,273 24,690,318 24,648,489 24,590,708 24,517,054 24,428,398 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Total PBI income ($) 0 24,739,584 24,739,584 24,739,579 24,739,396 24,737,839 24,731,853 24,717,273 24,690,318 24,648,489 24,590,708 24,517,054 24,428,398 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 TAX CREDITS -Federal PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -State PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Federal PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Federal ITC amount income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Federal ITC percent income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Federal ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Federal ITC amount income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Federal ITC percent income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Federal ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -State ITC amount income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -State ITC percent income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -State ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State ITC amount income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State ITC percent income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 DEBT REPAYMENT -Debt balance ($) 107,393,633 105,777,205 104,079,955 102,297,843 100,426,625 98,461,847 96,398,829 94,232,660 91,958,183 89,569,983 87,062,372 84,429,380 81,664,740 78,761,867 75,713,850 72,513,432 69,152,994 65,624,534 61,919,651 58,029,523 53,944,889 49,656,024 45,152,715 40,424,241 35,459,343 30,246,200 24,772,400 19,024,910 12,990,046 6,653,438 0 -Debt interest payment ($) 0 5,369,682 5,288,860 5,203,998 5,114,892 5,021,331 4,923,092 4,819,941 4,711,633 4,597,909 4,478,499 4,353,119 4,221,469 4,083,237 3,938,093 3,785,692 3,625,672 3,457,650 3,281,227 3,095,983 2,901,476 2,697,244 2,482,801 2,257,636 2,021,212 1,772,967 1,512,310 1,238,620 951,246 649,502 332,672 -Debt principal payment ($) 0 1,616,428 1,697,250 1,782,112 1,871,218 1,964,779 2,063,018 2,166,169 2,274,477 2,388,201 2,507,611 2,632,991 2,764,641 2,902,873 3,048,017 3,200,417 3,360,438 3,528,460 3,704,883 3,890,127 4,084,634 4,288,865 4,503,309 4,728,474 4,964,898 5,213,143 5,473,800 5,747,490 6,034,864 6,336,608 6,653,438 -Debt total payment ($) 0 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 +Debt balance ($) 107,393,633 105,777,205 104,079,955 102,297,843 100,426,625 98,461,847 96,398,829 94,232,660 91,958,183 89,569,983 87,062,372 84,429,380 81,664,740 78,761,867 75,713,850 72,513,432 69,152,994 65,624,534 61,919,651 58,029,523 53,944,889 49,656,024 45,152,715 40,424,241 35,459,343 30,246,200 24,772,400 19,024,910 12,990,046 6,653,438 0 +Debt interest payment ($) 0 5,369,682 5,288,860 5,203,998 5,114,892 5,021,331 4,923,092 4,819,941 4,711,633 4,597,909 4,478,499 4,353,119 4,221,469 4,083,237 3,938,093 3,785,692 3,625,672 3,457,650 3,281,227 3,095,983 2,901,476 2,697,244 2,482,801 2,257,636 2,021,212 1,772,967 1,512,310 1,238,620 951,246 649,502 332,672 +Debt principal payment ($) 0 1,616,428 1,697,250 1,782,112 1,871,218 1,964,779 2,063,018 2,166,169 2,274,477 2,388,201 2,507,611 2,632,991 2,764,641 2,902,873 3,048,017 3,200,417 3,360,438 3,528,460 3,704,883 3,890,127 4,084,634 4,288,865 4,503,309 4,728,474 4,964,898 5,213,143 5,473,800 5,747,490 6,034,864 6,336,608 6,653,438 +Debt total payment ($) 0 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 DSCR (DEBT FRACTION) -EBITDA ($) 0 14,236,483 14,236,483 14,236,477 14,236,229 14,234,129 14,226,052 14,206,384 14,170,046 14,113,717 14,036,023 13,937,183 13,818,507 13,681,939 13,529,731 13,364,197 13,187,581 13,001,961 12,809,224 12,611,039 12,408,866 12,203,967 11,997,428 11,790,165 11,582,958 11,376,457 11,171,206 10,967,652 10,766,163 10,567,039 117,773,891 +EBITDA ($) 0 136,939 136,939 136,935 136,792 135,579 130,913 119,555 98,579 66,089 21,326 -35,537 -103,687 -181,942 -268,943 -363,302 -463,676 -568,829 -677,642 -789,132 -902,444 -1,016,844 -1,131,706 -1,246,507 -1,360,808 -1,474,246 -1,586,523 -1,697,400 -1,806,682 -1,914,217 105,378,969 minus: -Reserves major equipment 1 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves major equipment 2 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves major equipment 3 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves receivables funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 1 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 2 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 3 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves receivables funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 equals: -Cash available for debt service (CAFDS) ($) 0 14,236,483 14,236,483 14,236,477 14,236,229 14,234,129 14,226,052 14,206,384 14,170,046 14,113,717 14,036,023 13,937,183 13,818,507 13,681,939 13,529,731 13,364,197 13,187,581 13,001,961 12,809,224 12,611,039 12,408,866 12,203,967 11,997,428 11,790,165 11,582,958 11,376,457 11,171,206 10,967,652 10,766,163 10,567,039 117,773,891 -Debt total payment ($) 0 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 -DSCR (pre-tax) 0.0 2.04 2.04 2.04 2.04 2.04 2.04 2.03 2.03 2.02 2.01 1.99 1.98 1.96 1.94 1.91 1.89 1.86 1.83 1.81 1.78 1.75 1.72 1.69 1.66 1.63 1.60 1.57 1.54 1.51 16.86 +Cash available for debt service (CAFDS) ($) 0 136,939 136,939 136,935 136,792 135,579 130,913 119,555 98,579 66,089 21,326 -35,537 -103,687 -181,942 -268,943 -363,302 -463,676 -568,829 -677,642 -789,132 -902,444 -1,016,844 -1,131,706 -1,246,507 -1,360,808 -1,474,246 -1,586,523 -1,697,400 -1,806,682 -1,914,217 105,378,969 +Debt total payment ($) 0 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 +DSCR (pre-tax) 0.0 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.01 0.01 0.0 -0.01 -0.01 -0.03 -0.04 -0.05 -0.07 -0.08 -0.10 -0.11 -0.13 -0.15 -0.16 -0.18 -0.19 -0.21 -0.23 -0.24 -0.26 -0.27 15.08 RESERVES -Reserves working capital funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves working capital disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves working capital balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves working capital funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves working capital disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves working capital balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves debt service funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves debt service disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves debt service balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves debt service funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves debt service disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves debt service balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves receivables funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves receivables disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves receivables balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves receivables funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves receivables disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves receivables balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves major equipment 1 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves major equipment 1 disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves major equipment 1 balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 1 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 1 disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 1 balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves major equipment 2 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves major equipment 2 disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves major equipment 2 balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 2 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 2 disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 2 balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves major equipment 3 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves major equipment 3 disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves major equipment 3 balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 3 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 3 disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 3 balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves total reserves balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves total reserves balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Interest on reserves (%/year) 1.75 -Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- +Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ***S-DAC-GT ECONOMICS*** @@ -504,21 +497,21 @@ Start (tonne/yr) (tonne) (USD/yr) (USD) ( 10 77,859.43 782,290.99 17,306,849.76 173,890,208.78 222.28 14,014,697.42 11 77,626.22 859,917.21 17,255,012.02 191,145,220.80 222.28 13,972,720.38 12 77,345.52 937,262.73 17,192,616.14 208,337,836.94 222.28 13,922,193.60 - 13 77,021.56 1,014,284.29 17,120,605.40 225,458,442.34 222.28 13,863,880.93 - 14 76,659.30 1,090,943.59 17,040,081.18 242,498,523.53 222.28 13,798,674.23 - 15 76,263.89 1,167,207.48 16,952,186.81 259,450,710.33 222.28 13,727,499.34 - 16 75,840.32 1,243,047.80 16,858,034.91 276,308,745.24 222.28 13,651,257.25 - 17 75,393.28 1,318,441.08 16,758,665.93 293,067,411.17 222.28 13,570,790.49 - 18 74,927.04 1,393,368.11 16,655,027.43 309,722,438.60 222.28 13,486,866.37 - 19 74,445.39 1,467,813.51 16,547,966.62 326,270,405.23 222.28 13,400,170.93 - 20 73,951.72 1,541,765.22 16,438,231.02 342,708,636.25 222.28 13,311,309.51 - 21 73,448.95 1,615,214.17 16,326,473.66 359,035,109.91 222.28 13,220,810.92 - 22 72,939.63 1,688,153.81 16,213,260.66 375,248,370.57 222.28 13,129,133.58 - 23 72,425.96 1,760,579.76 16,099,079.76 391,347,450.33 222.28 13,036,672.46 - 24 71,909.81 1,832,489.57 15,984,349.02 407,331,799.35 222.28 12,943,766.08 - 25 71,392.80 1,903,882.37 15,869,425.07 423,201,224.42 222.28 12,850,703.25 - 26 70,876.27 1,974,758.64 15,754,610.85 438,955,835.27 222.28 12,757,729.29 - 27 70,361.40 2,045,120.04 15,640,162.58 454,595,997.86 222.28 12,665,051.65 - 28 69,849.14 2,114,969.18 15,526,295.96 470,122,293.82 222.28 12,572,845.02 - 29 69,340.31 2,184,309.49 15,413,191.67 485,535,485.49 222.28 12,481,255.72 - 30 68,860.68 2,253,170.17 15,306,577.89 500,842,063.38 222.28 12,394,922.28 + 13 77,021.56 1,014,284.29 17,120,605.40 225,458,442.34 222.28 0.00 + 14 76,659.30 1,090,943.59 17,040,081.18 242,498,523.53 222.28 0.00 + 15 76,263.89 1,167,207.48 16,952,186.81 259,450,710.33 222.28 0.00 + 16 75,840.32 1,243,047.80 16,858,034.91 276,308,745.24 222.28 0.00 + 17 75,393.28 1,318,441.08 16,758,665.93 293,067,411.17 222.28 0.00 + 18 74,927.04 1,393,368.11 16,655,027.43 309,722,438.60 222.28 0.00 + 19 74,445.39 1,467,813.51 16,547,966.62 326,270,405.23 222.28 0.00 + 20 73,951.72 1,541,765.22 16,438,231.02 342,708,636.25 222.28 0.00 + 21 73,448.95 1,615,214.17 16,326,473.66 359,035,109.91 222.28 0.00 + 22 72,939.63 1,688,153.81 16,213,260.66 375,248,370.57 222.28 0.00 + 23 72,425.96 1,760,579.76 16,099,079.76 391,347,450.33 222.28 0.00 + 24 71,909.81 1,832,489.57 15,984,349.02 407,331,799.35 222.28 0.00 + 25 71,392.80 1,903,882.37 15,869,425.07 423,201,224.42 222.28 0.00 + 26 70,876.27 1,974,758.64 15,754,610.85 438,955,835.27 222.28 0.00 + 27 70,361.40 2,045,120.04 15,640,162.58 454,595,997.86 222.28 0.00 + 28 69,849.14 2,114,969.18 15,526,295.96 470,122,293.82 222.28 0.00 + 29 69,340.31 2,184,309.49 15,413,191.67 485,535,485.49 222.28 0.00 + 30 68,860.68 2,253,170.17 15,306,577.89 500,842,063.38 222.28 0.00 From bcb3010b31efccdc6a8daeac50c3ad6313f04070 Mon Sep 17 00:00:00 2001 From: softwareengineerprogrammer <4056124+softwareengineerprogrammer@users.noreply.github.com> Date: Wed, 20 May 2026 09:04:18 -0700 Subject: [PATCH 7/9] fix pbi_oth_amount and opex --- src/geophires_x/Economics.py | 15 ++++-- src/geophires_x/EconomicsS_DAC_GT.py | 40 ++++++++++++++- src/geophires_x/EconomicsSam.py | 30 ++++++++++- tests/examples/S-DAC-GT-2.out | 74 ++++++++++++++-------------- 4 files changed, 117 insertions(+), 42 deletions(-) diff --git a/src/geophires_x/Economics.py b/src/geophires_x/Economics.py index fd502b0b7..09e4a83e8 100644 --- a/src/geophires_x/Economics.py +++ b/src/geophires_x/Economics.py @@ -2908,9 +2908,18 @@ def Calculate(self, model: Model) -> None: self.CCap.value += sdac_overnight_capex_musd avg_carbon_extracted_tonnes = np.average(model.sdacgteconomics.CarbonExtractedAnnually.value) - sdac_annual_opex_musd = (( - model.sdacgteconomics.OPEX.value + model.sdacgteconomics.storage.value + model.sdacgteconomics.transport.value) - * avg_carbon_extracted_tonnes) / 1_000_000.0 + sdac_annual_opex_usd = ( + model.sdacgteconomics.OPEX.value + model.sdacgteconomics.storage.value + model.sdacgteconomics.transport.value) * avg_carbon_extracted_tonnes + + if model.sdacgteconomics.sorbent_replacement_frequency.value > 0: + max_carbon_capacity_tonnes = np.max(model.sdacgteconomics.CarbonExtractedAnnually.value) + replacements_per_lifetime = int( + model.surfaceplant.plant_lifetime.value / model.sdacgteconomics.sorbent_replacement_frequency.value) + annualized_replacement_usd = ( + max_carbon_capacity_tonnes * model.sdacgteconomics.sorbent_replacement_cost.value * replacements_per_lifetime) / model.surfaceplant.plant_lifetime.value + sdac_annual_opex_usd += annualized_replacement_usd + + sdac_annual_opex_musd = sdac_annual_opex_usd / 1_000_000.0 self.Coam.value += sdac_annual_opex_musd self.calculate_cashflow(model) diff --git a/src/geophires_x/EconomicsS_DAC_GT.py b/src/geophires_x/EconomicsS_DAC_GT.py index 2e4371786..c44b57892 100644 --- a/src/geophires_x/EconomicsS_DAC_GT.py +++ b/src/geophires_x/EconomicsS_DAC_GT.py @@ -1,7 +1,7 @@ import sys import os import numpy as np -from geophires_x.Parameter import floatParameter, OutputParameter, ReadParameter +from geophires_x.Parameter import floatParameter, OutputParameter, ReadParameter, intParameter from geophires_x.Units import * from geophires_x.OptionList import EndUseOptions import geophires_x.Model as Model @@ -245,6 +245,31 @@ def __init__(self, model: Model): ToolTipText="Duration for which the carbon credit can be claimed (e.g., 12 years for US 45Q)" ) + self.sorbent_replacement_frequency = self.ParameterDict[self.sorbent_replacement_frequency.Name] = intParameter( + "S-DAC-GT Sorbent Replacement Frequency", + value=0, + DefaultValue=0, + AllowableRange=list(range(1, 101, 1)), + UnitType=Units.TIME, + PreferredUnits=TimeUnit.YEAR, + CurrentUnits=TimeUnit.YEAR, + ErrMessage="assume default Sorbent Replacement Frequency (0 years - no discrete replacement)", + ToolTipText="Frequency of solid sorbent replacement in years (0 disables step-function replacement costs)" + ) + + self.sorbent_replacement_cost = self.ParameterDict[self.sorbent_replacement_cost.Name] = floatParameter( + "S-DAC-GT Sorbent Replacement Cost", + value=0.0, + DefaultValue=0.0, + Min=0.0, + Max=1000.0, + UnitType=Units.COSTPERMASS, + PreferredUnits=CostPerMassUnit.DOLLARSPERTONNE, + CurrentUnits=CostPerMassUnit.DOLLARSPERTONNE, + ErrMessage="assume default Sorbent Replacement Cost (0 USD per tonne CO2)", + ToolTipText="Cost to replace solid sorbent (USD per tonne CO2 capacity)" + ) + # local variable initiation # Capital Recovery Rate or Fixed Charge Factor - set initially for definitions self.CRF = 0.1175 @@ -703,6 +728,19 @@ def Calculate(self, model: Model) -> None: self.CummCostPerTonne.value[i] = self.S_DAC_GTCummCashFlow.value[i] / \ self.S_DAC_GTCummCarbonExtracted.value[i] + max_carbon_capacity_tonnes = np.max(self.CarbonExtractedAnnually.value) + self.AnnualOPEX_USD = [0.0] * model.surfaceplant.plant_lifetime.value + for i in range(0, model.surfaceplant.plant_lifetime.value, 1): + base_opex = self.CarbonExtractedAnnually.value[i] * ( + self.OPEX.value + self.storage.value + self.transport.value) + replacement_cost = 0.0 + operational_year = i + 1 + if self.sorbent_replacement_frequency.value > 0 and ( + operational_year % self.sorbent_replacement_frequency.value) == 0: + replacement_cost = max_carbon_capacity_tonnes * self.sorbent_replacement_cost.value + + self.AnnualOPEX_USD[i] = base_opex + replacement_cost + # We need to update the heat and electricity generated because we have consumed # some (all) of it to do the capture, so when they get used in the final economic calculation (below), # the new values reflect the impact of S-DAC-GT diff --git a/src/geophires_x/EconomicsSam.py b/src/geophires_x/EconomicsSam.py index daac092d5..3b8995081 100644 --- a/src/geophires_x/EconomicsSam.py +++ b/src/geophires_x/EconomicsSam.py @@ -651,8 +651,36 @@ def _get_single_owner_parameters(model: Model) -> dict[str, Any]: royalty_supplemental_payments_by_year_usd = econ.get_royalty_supplemental_payments_schedule_usd(model)[ _pre_revenue_years_count(model) : ] + + sdac_average_opex_usd = 0.0 + sdac_opex_by_year_usd = [0.0] * model.surfaceplant.plant_lifetime.value + if econ.DoSDACGTCalculations.value: + sdac_opex_by_year_usd = model.sdacgteconomics.AnnualOPEX_USD + avg_carbon_extracted_tonnes = np.average(model.sdacgteconomics.CarbonExtractedAnnually.value) + sdac_average_opex_usd = ( + model.sdacgteconomics.OPEX.value + + model.sdacgteconomics.storage.value + + model.sdacgteconomics.transport.value + ) * avg_carbon_extracted_tonnes + if model.sdacgteconomics.sorbent_replacement_frequency.value > 0: + max_carbon_capacity_tonnes = np.max(model.sdacgteconomics.CarbonExtractedAnnually.value) + replacements_per_lifetime = int( + model.surfaceplant.plant_lifetime.value / model.sdacgteconomics.sorbent_replacement_frequency.value + ) + annualized_replacement_usd = ( + max_carbon_capacity_tonnes + * model.sdacgteconomics.sorbent_replacement_cost.value + * replacements_per_lifetime + ) / model.surfaceplant.plant_lifetime.value + sdac_average_opex_usd += annualized_replacement_usd + + opex_base_without_sdac_usd = opex_base_usd - sdac_average_opex_usd for year_index in range(model.surfaceplant.plant_lifetime.value): - opex_by_year_usd.append(opex_base_usd + royalty_supplemental_payments_by_year_usd[year_index]) + opex_by_year_usd.append( + opex_base_without_sdac_usd + + royalty_supplemental_payments_by_year_usd[year_index] + + sdac_opex_by_year_usd[year_index] + ) if model.surfaceplant.enduse_option.value == EndUseOptions.HEAT: # For pure direct-use, pumping is a grid purchase. diff --git a/tests/examples/S-DAC-GT-2.out b/tests/examples/S-DAC-GT-2.out index adb8ba8a0..14338ee12 100644 --- a/tests/examples/S-DAC-GT-2.out +++ b/tests/examples/S-DAC-GT-2.out @@ -6,15 +6,15 @@ Simulation Metadata ---------------------- GEOPHIRES Version: 3.13.8 Simulation Date: 2026-05-20 - Simulation Time: 08:24 - Calculation Time: 0.194 sec + Simulation Time: 09:02 + Calculation Time: 0.208 sec ***SUMMARY OF RESULTS*** End-Use Option: Cogeneration Topping Cycle, Heat sales considered as extra income Average Net Electricity Production: 19.62 MW Average Direct-Use Heat Production: 13.19 MW - Electricity breakeven price: 2.77 cents/kWh + Electricity breakeven price: 2.83 cents/kWh Direct-Use heat breakeven price (LCOH): 0.00 USD/MMBTU Total CAPEX: 214.79 MUSD Electricity CAPEX ($/kWe): 9447 USD/kW @@ -34,11 +34,11 @@ Simulation Metadata WACC: 6.37 % Project lifetime: 30 yr Capacity factor: 90.0 % - Project NPV: 40.11 MUSD - After-tax IRR: 16.85 % - Project VIR=PI=PIR: 1.33 + Project NPV: 39.07 MUSD + After-tax IRR: 16.64 % + Project VIR=PI=PIR: 1.32 Project MOIC: 1.23 - Project Payback Period: 5.88 yr + Project Payback Period: 5.92 yr CHP: Percent cost allocation for electrical plant: 92.25 % ***ENGINEERING PARAMETERS*** @@ -252,19 +252,19 @@ Total revenue ($) 0 9,034,443 9,03 Property tax net assessed value ($) 0 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 OPERATING EXPENSES -O&M fixed expense ($) 0 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 +O&M fixed expense ($) 0 9,142,614 9,142,614 9,142,612 9,142,568 9,142,194 9,140,753 9,137,245 9,130,758 9,120,693 9,106,789 9,089,066 9,067,732 9,043,111 9,015,579 8,985,528 8,953,337 8,919,362 8,883,927 8,847,323 8,809,803 8,771,593 8,732,885 8,693,845 8,654,618 8,615,325 8,576,069 8,536,939 8,498,007 8,459,336 8,422,884 O&M production-based expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O&M capacity-based expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Fuel expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Electricity purchase ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Property tax expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Insurance expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Total operating expenses ($) 0 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 8,897,504 +Total operating expenses ($) 0 9,142,614 9,142,614 9,142,612 9,142,568 9,142,194 9,140,753 9,137,245 9,130,758 9,120,693 9,106,789 9,089,066 9,067,732 9,043,111 9,015,579 8,985,528 8,953,337 8,919,362 8,883,927 8,847,323 8,809,803 8,771,593 8,732,885 8,693,845 8,654,618 8,615,325 8,576,069 8,536,939 8,498,007 8,459,336 8,422,884 -EBITDA ($) 0 136,939 136,939 136,935 136,792 135,579 130,913 119,555 98,579 66,089 21,326 -35,537 -103,687 -181,942 -268,943 -363,302 -463,676 -568,829 -677,642 -789,132 -902,444 -1,016,844 -1,131,706 -1,246,507 -1,360,808 -1,474,246 -1,586,523 -1,697,400 -1,806,682 -1,914,217 105,378,969 +EBITDA ($) 0 -108,171 -108,171 -108,174 -108,272 -109,111 -112,337 -120,187 -134,676 -157,101 -187,960 -227,099 -273,916 -327,549 -387,019 -451,326 -519,510 -590,687 -664,066 -738,951 -814,744 -890,933 -967,087 -1,042,849 -1,117,922 -1,192,067 -1,265,089 -1,336,835 -1,407,185 -1,476,049 105,853,588 OPERATING ACTIVITIES -EBITDA ($) 0 136,939 136,939 136,935 136,792 135,579 130,913 119,555 98,579 66,089 21,326 -35,537 -103,687 -181,942 -268,943 -363,302 -463,676 -568,829 -677,642 -789,132 -902,444 -1,016,844 -1,131,706 -1,246,507 -1,360,808 -1,474,246 -1,586,523 -1,697,400 -1,806,682 -1,914,217 105,378,969 +EBITDA ($) 0 -108,171 -108,171 -108,174 -108,272 -109,111 -112,337 -120,187 -134,676 -157,101 -187,960 -227,099 -273,916 -327,549 -387,019 -451,326 -519,510 -590,687 -664,066 -738,951 -814,744 -890,933 -967,087 -1,042,849 -1,117,922 -1,192,067 -1,265,089 -1,336,835 -1,407,185 -1,476,049 105,853,588 Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 plus PBI if not available for debt service: Federal PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 @@ -272,7 +272,7 @@ State PBI income ($) 0 0 0 Utility PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Other PBI income ($) 0 24,739,584 24,739,584 24,739,579 24,739,396 24,737,839 24,731,853 24,717,273 24,690,318 24,648,489 24,590,708 24,517,054 24,428,398 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Debt interest payment ($) 0 5,369,682 5,288,860 5,203,998 5,114,892 5,021,331 4,923,092 4,819,941 4,711,633 4,597,909 4,478,499 4,353,119 4,221,469 4,083,237 3,938,093 3,785,692 3,625,672 3,457,650 3,281,227 3,095,983 2,901,476 2,697,244 2,482,801 2,257,636 2,021,212 1,772,967 1,512,310 1,238,620 951,246 649,502 332,672 -Cash flow from operating activities ($) 0 19,506,841 19,587,663 19,672,516 19,761,296 19,852,087 19,939,674 20,016,886 20,077,264 20,116,669 20,133,535 20,128,398 20,103,241 -4,265,179 -4,207,037 -4,148,994 -4,089,348 -4,026,478 -3,958,869 -3,885,115 -3,803,921 -3,714,088 -3,614,507 -3,504,143 -3,382,020 -3,247,213 -3,098,833 -2,936,020 -2,757,927 -2,563,719 105,046,297 +Cash flow from operating activities ($) 0 19,261,731 19,342,553 19,427,408 19,516,231 19,607,397 19,696,424 19,777,145 19,844,009 19,893,479 19,924,249 19,936,836 19,933,013 -4,410,786 -4,325,112 -4,237,018 -4,145,181 -4,048,336 -3,945,292 -3,834,934 -3,716,220 -3,588,177 -3,449,888 -3,300,485 -3,139,134 -2,965,034 -2,777,399 -2,575,455 -2,358,431 -2,125,552 105,520,916 INVESTING ACTIVITIES Total installed cost ($) -214,787,267 @@ -306,47 +306,47 @@ Cash flow from financing activities ($) 214,787,267 -1,616,428 -1,6 PROJECT RETURNS Pre-tax Cash Flow: -Cash flow from operating activities ($) 0 19,506,841 19,587,663 19,672,516 19,761,296 19,852,087 19,939,674 20,016,886 20,077,264 20,116,669 20,133,535 20,128,398 20,103,241 -4,265,179 -4,207,037 -4,148,994 -4,089,348 -4,026,478 -3,958,869 -3,885,115 -3,803,921 -3,714,088 -3,614,507 -3,504,143 -3,382,020 -3,247,213 -3,098,833 -2,936,020 -2,757,927 -2,563,719 105,046,297 +Cash flow from operating activities ($) 0 19,261,731 19,342,553 19,427,408 19,516,231 19,607,397 19,696,424 19,777,145 19,844,009 19,893,479 19,924,249 19,936,836 19,933,013 -4,410,786 -4,325,112 -4,237,018 -4,145,181 -4,048,336 -3,945,292 -3,834,934 -3,716,220 -3,588,177 -3,449,888 -3,300,485 -3,139,134 -2,965,034 -2,777,399 -2,575,455 -2,358,431 -2,125,552 105,520,916 Cash flow from investing activities ($) -214,787,267 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Cash flow from financing activities ($) 214,787,267 -1,616,428 -1,697,250 -1,782,112 -1,871,218 -1,964,779 -2,063,018 -2,166,169 -2,274,477 -2,388,201 -2,507,611 -2,632,991 -2,764,641 -2,902,873 -3,048,017 -3,200,417 -3,360,438 -3,528,460 -3,704,883 -3,890,127 -4,084,634 -4,288,865 -4,503,309 -4,728,474 -4,964,898 -5,213,143 -5,473,800 -5,747,490 -6,034,864 -6,336,608 -6,653,438 -Total pre-tax cash flow ($) 0 17,890,413 17,890,413 17,890,404 17,890,078 17,887,308 17,876,656 17,850,718 17,802,787 17,728,468 17,625,924 17,495,407 17,338,600 -7,168,052 -7,255,053 -7,349,411 -7,449,786 -7,554,939 -7,663,752 -7,775,242 -7,888,554 -8,002,954 -8,117,816 -8,232,617 -8,346,918 -8,460,356 -8,572,633 -8,683,510 -8,792,792 -8,900,327 98,392,859 +Total pre-tax cash flow ($) 0 17,645,303 17,645,303 17,645,295 17,645,014 17,642,618 17,633,407 17,610,976 17,569,532 17,505,278 17,416,638 17,303,845 17,168,372 -7,313,659 -7,373,129 -7,437,436 -7,505,620 -7,576,797 -7,650,176 -7,725,061 -7,800,854 -7,877,043 -7,953,197 -8,028,959 -8,104,032 -8,178,177 -8,251,199 -8,322,945 -8,393,295 -8,462,159 98,867,478 Pre-tax Returns: Issuance of equity ($) 107,393,633 -Total pre-tax cash flow ($) 0 17,890,413 17,890,413 17,890,404 17,890,078 17,887,308 17,876,656 17,850,718 17,802,787 17,728,468 17,625,924 17,495,407 17,338,600 -7,168,052 -7,255,053 -7,349,411 -7,449,786 -7,554,939 -7,663,752 -7,775,242 -7,888,554 -8,002,954 -8,117,816 -8,232,617 -8,346,918 -8,460,356 -8,572,633 -8,683,510 -8,792,792 -8,900,327 98,392,859 -Total pre-tax returns ($) -107,393,633 17,890,413 17,890,413 17,890,404 17,890,078 17,887,308 17,876,656 17,850,718 17,802,787 17,728,468 17,625,924 17,495,407 17,338,600 -7,168,052 -7,255,053 -7,349,411 -7,449,786 -7,554,939 -7,663,752 -7,775,242 -7,888,554 -8,002,954 -8,117,816 -8,232,617 -8,346,918 -8,460,356 -8,572,633 -8,683,510 -8,792,792 -8,900,327 98,392,859 +Total pre-tax cash flow ($) 0 17,645,303 17,645,303 17,645,295 17,645,014 17,642,618 17,633,407 17,610,976 17,569,532 17,505,278 17,416,638 17,303,845 17,168,372 -7,313,659 -7,373,129 -7,437,436 -7,505,620 -7,576,797 -7,650,176 -7,725,061 -7,800,854 -7,877,043 -7,953,197 -8,028,959 -8,104,032 -8,178,177 -8,251,199 -8,322,945 -8,393,295 -8,462,159 98,867,478 +Total pre-tax returns ($) -107,393,633 17,645,303 17,645,303 17,645,295 17,645,014 17,642,618 17,633,407 17,610,976 17,569,532 17,505,278 17,416,638 17,303,845 17,168,372 -7,313,659 -7,373,129 -7,437,436 -7,505,620 -7,576,797 -7,650,176 -7,725,061 -7,800,854 -7,877,043 -7,953,197 -8,028,959 -8,104,032 -8,178,177 -8,251,199 -8,322,945 -8,393,295 -8,462,159 98,867,478 After-tax Returns: -Total pre-tax returns ($) -107,393,633 17,890,413 17,890,413 17,890,404 17,890,078 17,887,308 17,876,656 17,850,718 17,802,787 17,728,468 17,625,924 17,495,407 17,338,600 -7,168,052 -7,255,053 -7,349,411 -7,449,786 -7,554,939 -7,663,752 -7,775,242 -7,888,554 -8,002,954 -8,117,816 -8,232,617 -8,346,918 -8,460,356 -8,572,633 -8,683,510 -8,792,792 -8,900,327 98,392,859 +Total pre-tax returns ($) -107,393,633 17,645,303 17,645,303 17,645,295 17,645,014 17,642,618 17,633,407 17,610,976 17,569,532 17,505,278 17,416,638 17,303,845 17,168,372 -7,313,659 -7,373,129 -7,437,436 -7,505,620 -7,576,797 -7,650,176 -7,725,061 -7,800,854 -7,877,043 -7,953,197 -8,028,959 -8,104,032 -8,178,177 -8,251,199 -8,322,945 -8,393,295 -8,462,159 98,867,478 Federal ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Federal tax benefit (liability) ($) 0 2,026,123 3,036,824 3,020,608 3,003,607 2,985,960 2,968,078 2,950,536 2,933,847 2,918,323 2,904,058 2,890,964 2,878,830 2,867,368 2,856,257 2,845,165 2,833,767 2,821,752 2,808,832 2,794,738 2,779,222 1,735,908 690,732 669,642 646,304 620,542 592,187 561,073 527,040 489,927 -20,074,347 +Federal tax benefit (liability) ($) 0 2,072,964 3,083,665 3,067,448 3,050,439 3,032,720 3,014,563 2,996,351 2,978,422 2,960,975 2,944,053 2,927,572 2,911,360 2,895,194 2,878,821 2,861,987 2,844,436 2,825,929 2,806,238 2,785,148 2,762,462 1,711,847 659,274 630,723 599,889 566,618 530,761 492,169 450,696 406,193 -20,165,047 State ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 State PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -State tax benefit (liability) ($) 0 954,218 1,430,216 1,422,578 1,414,572 1,406,260 1,397,839 1,389,578 1,381,718 1,374,407 1,367,688 1,361,522 1,355,807 1,350,409 1,345,176 1,339,952 1,334,584 1,328,926 1,322,841 1,316,203 1,308,896 817,539 325,306 315,373 304,382 292,249 278,895 264,242 248,213 230,735 -9,454,167 -Total after-tax returns ($) -107,393,633 20,870,754 22,357,453 22,333,591 22,308,257 22,279,528 22,242,573 22,190,831 22,118,351 22,021,198 21,897,671 21,747,893 21,573,237 -2,950,275 -3,053,620 -3,164,294 -3,281,436 -3,404,260 -3,532,079 -3,664,302 -3,800,437 -5,449,506 -7,101,778 -7,247,602 -7,396,232 -7,547,564 -7,701,551 -7,858,195 -8,017,538 -8,179,665 68,864,345 +State tax benefit (liability) ($) 0 976,278 1,452,276 1,444,638 1,436,628 1,428,283 1,419,731 1,411,154 1,402,710 1,394,494 1,386,524 1,378,762 1,371,127 1,363,513 1,355,803 1,347,874 1,339,609 1,330,893 1,321,619 1,311,687 1,301,003 806,207 310,490 297,044 282,522 266,853 249,966 231,791 212,259 191,300 -9,496,882 +Total after-tax returns ($) -107,393,633 20,694,545 22,181,244 22,157,382 22,132,080 22,103,620 22,067,701 22,018,481 21,950,664 21,860,747 21,747,215 21,610,179 21,450,860 -3,054,952 -3,138,505 -3,227,575 -3,321,574 -3,419,974 -3,522,319 -3,628,226 -3,737,389 -5,358,989 -6,983,433 -7,101,193 -7,221,622 -7,344,706 -7,470,472 -7,598,985 -7,730,340 -7,864,667 69,205,549 -After-tax net cash flow ($) -107,393,633 20,870,754 22,357,453 22,333,591 22,308,257 22,279,528 22,242,573 22,190,831 22,118,351 22,021,198 21,897,671 21,747,893 21,573,237 -2,950,275 -3,053,620 -3,164,294 -3,281,436 -3,404,260 -3,532,079 -3,664,302 -3,800,437 -5,449,506 -7,101,778 -7,247,602 -7,396,232 -7,547,564 -7,701,551 -7,858,195 -8,017,538 -8,179,665 68,864,345 -After-tax cumulative IRR (%) NaN -80.57 -43.63 -20.95 -7.50 0.84 6.28 9.96 12.53 14.38 15.73 16.74 17.51 17.42 17.35 17.28 17.22 17.16 17.11 17.07 17.03 16.98 -14.19 -11.80 -9.89 -8.32 -6.99 -5.85 -4.85 -3.99 16.85 -After-tax cumulative NPV ($) -107,393,633 -88,270,714 -69,501,139 -52,321,790 -36,598,992 -22,211,462 -9,050,691 2,979,871 13,966,922 23,989,638 33,121,481 41,431,341 48,984,140 48,037,748 47,140,237 46,288,084 45,478,390 44,708,736 43,977,060 43,281,561 42,620,632 41,752,284 40,715,423 39,745,888 38,839,330 37,991,697 37,199,204 36,458,309 35,765,697 35,118,255 40,112,570 +After-tax net cash flow ($) -107,393,633 20,694,545 22,181,244 22,157,382 22,132,080 22,103,620 22,067,701 22,018,481 21,950,664 21,860,747 21,747,215 21,610,179 21,450,860 -3,054,952 -3,138,505 -3,227,575 -3,321,574 -3,419,974 -3,522,319 -3,628,226 -3,737,389 -5,358,989 -6,983,433 -7,101,193 -7,221,622 -7,344,706 -7,470,472 -7,598,985 -7,730,340 -7,864,667 69,205,549 +After-tax cumulative IRR (%) NaN -80.73 -43.91 -21.24 -7.79 0.57 6.02 9.72 12.30 14.16 15.52 16.54 17.31 17.22 17.14 17.07 17.01 16.95 16.90 16.86 16.82 16.77 -14.18 -11.81 -9.91 -8.35 -7.03 -5.90 -4.92 -4.06 16.64 +After-tax cumulative NPV ($) -107,393,633 -88,432,166 -69,810,523 -52,766,716 -37,168,087 -22,894,154 -9,836,854 2,100,270 13,004,025 22,953,713 32,022,812 40,280,052 47,790,007 46,810,036 45,887,576 45,018,382 44,198,784 43,425,577 42,695,922 42,007,271 41,357,307 40,503,381 39,483,800 38,533,850 37,648,694 36,823,843 36,055,128 35,338,672 34,670,870 34,048,361 39,067,421 AFTER-TAX LCOE AND PPA PRICE -Annual costs ($) -107,393,633 11,836,312 13,323,010 13,299,152 13,273,961 13,246,446 13,214,156 13,173,773 13,122,269 13,057,605 12,978,841 12,885,926 12,779,420 -11,665,837 -11,682,181 -11,698,496 -11,715,263 -11,732,936 -11,751,941 -11,772,673 -11,795,497 -13,330,166 -14,867,576 -14,898,599 -14,932,928 -14,970,822 -15,012,532 -15,058,298 -15,108,360 -15,162,952 61,981,506 +Annual costs ($) -107,393,633 11,660,102 13,146,801 13,122,943 13,097,784 13,070,538 13,039,284 13,001,423 12,954,582 12,897,154 12,828,386 12,748,212 12,657,043 -11,770,514 -11,767,065 -11,761,777 -11,755,401 -11,748,649 -11,742,181 -11,736,598 -11,732,449 -13,239,649 -14,749,231 -14,752,189 -14,758,318 -14,767,964 -14,781,452 -14,799,088 -14,821,162 -14,847,953 62,322,710 PPA revenue ($) 0 9,034,443 9,034,443 9,034,439 9,034,296 9,033,082 9,028,417 9,017,058 8,996,083 8,963,593 8,918,829 8,861,967 8,793,816 8,715,562 8,628,560 8,534,202 8,433,827 8,328,675 8,219,862 8,108,371 7,995,059 7,880,660 7,765,797 7,650,997 7,536,696 7,423,258 7,310,980 7,200,104 7,090,822 6,983,287 6,882,839 Electricity to grid (kWh) 0 164,262,593 164,262,593 164,262,523 164,259,927 164,237,860 164,153,030 163,946,512 163,565,140 162,974,410 162,160,536 161,126,671 159,887,568 158,464,763 156,882,914 155,167,311 153,342,313 151,430,456 149,452,029 147,424,931 145,364,714 143,284,728 141,196,317 139,109,029 137,030,835 134,968,328 132,926,914 130,910,978 128,924,033 126,968,851 125,142,526 -Present value of annual costs ($) 48,355,665 +Present value of annual costs ($) 49,400,813 -Present value of annual energy costs ($) 44,609,256 +Present value of annual energy costs ($) 45,573,430 Present value of annual energy nominal (kWh) 1,608,513,342 -LCOE Levelized cost of energy nominal (cents/kWh) 2.77 +LCOE Levelized cost of energy nominal (cents/kWh) 2.83 Present value of PPA revenue ($) 88,468,234 Present value of annual energy nominal (kWh) 1,608,513,342 LPPA Levelized PPA price nominal (cents/kWh) 5.50 PROJECT STATE INCOME TAXES -EBITDA ($) 0 136,939 136,939 136,935 136,792 135,579 130,913 119,555 98,579 66,089 21,326 -35,537 -103,687 -181,942 -268,943 -363,302 -463,676 -568,829 -677,642 -789,132 -902,444 -1,016,844 -1,131,706 -1,246,507 -1,360,808 -1,474,246 -1,586,523 -1,697,400 -1,806,682 -1,914,217 105,378,969 +EBITDA ($) 0 -108,171 -108,171 -108,174 -108,272 -109,111 -112,337 -120,187 -134,676 -157,101 -187,960 -227,099 -273,916 -327,549 -387,019 -451,326 -519,510 -590,687 -664,066 -738,951 -814,744 -890,933 -967,087 -1,042,849 -1,117,922 -1,192,067 -1,265,089 -1,336,835 -1,407,185 -1,476,049 105,853,588 State taxable PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 State taxable IBI income ($) 0 @@ -355,15 +355,15 @@ minus: Debt interest payment ($) 0 5,369,682 5,288,860 5,203,998 5,114,892 5,021,331 4,923,092 4,819,941 4,711,633 4,597,909 4,478,499 4,353,119 4,221,469 4,083,237 3,938,093 3,785,692 3,625,672 3,457,650 3,281,227 3,095,983 2,901,476 2,697,244 2,482,801 2,257,636 2,021,212 1,772,967 1,512,310 1,238,620 951,246 649,502 332,672 Total state tax depreciation ($) 0 5,369,682 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 5,369,682 0 0 0 0 0 0 0 0 0 equals: -State taxable income ($) 0 -10,602,424 -15,891,285 -15,806,426 -15,717,463 -15,625,116 -15,531,543 -15,439,750 -15,352,417 -15,271,184 -15,196,537 -15,128,019 -15,064,520 -15,004,542 -14,946,400 -14,888,357 -14,828,711 -14,765,842 -14,698,232 -14,624,478 -14,543,284 -9,083,770 -3,614,507 -3,504,143 -3,382,020 -3,247,213 -3,098,833 -2,936,020 -2,757,927 -2,563,719 105,046,297 +State taxable income ($) 0 -10,847,534 -16,136,394 -16,051,535 -15,962,528 -15,869,806 -15,774,792 -15,679,491 -15,585,672 -15,494,373 -15,405,822 -15,319,581 -15,234,748 -15,150,149 -15,064,476 -14,976,382 -14,884,544 -14,787,700 -14,684,656 -14,574,297 -14,455,583 -8,957,859 -3,449,888 -3,300,485 -3,139,134 -2,965,034 -2,777,399 -2,575,455 -2,358,431 -2,125,552 105,520,916 State income tax rate (frac) 0.0 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 -State tax benefit (liability) ($) 0 954,218 1,430,216 1,422,578 1,414,572 1,406,260 1,397,839 1,389,578 1,381,718 1,374,407 1,367,688 1,361,522 1,355,807 1,350,409 1,345,176 1,339,952 1,334,584 1,328,926 1,322,841 1,316,203 1,308,896 817,539 325,306 315,373 304,382 292,249 278,895 264,242 248,213 230,735 -9,454,167 +State tax benefit (liability) ($) 0 976,278 1,452,276 1,444,638 1,436,628 1,428,283 1,419,731 1,411,154 1,402,710 1,394,494 1,386,524 1,378,762 1,371,127 1,363,513 1,355,803 1,347,874 1,339,609 1,330,893 1,321,619 1,311,687 1,301,003 806,207 310,490 297,044 282,522 266,853 249,966 231,791 212,259 191,300 -9,496,882 PROJECT FEDERAL INCOME TAXES -EBITDA ($) 0 136,939 136,939 136,935 136,792 135,579 130,913 119,555 98,579 66,089 21,326 -35,537 -103,687 -181,942 -268,943 -363,302 -463,676 -568,829 -677,642 -789,132 -902,444 -1,016,844 -1,131,706 -1,246,507 -1,360,808 -1,474,246 -1,586,523 -1,697,400 -1,806,682 -1,914,217 105,378,969 +EBITDA ($) 0 -108,171 -108,171 -108,174 -108,272 -109,111 -112,337 -120,187 -134,676 -157,101 -187,960 -227,099 -273,916 -327,549 -387,019 -451,326 -519,510 -590,687 -664,066 -738,951 -814,744 -890,933 -967,087 -1,042,849 -1,117,922 -1,192,067 -1,265,089 -1,336,835 -1,407,185 -1,476,049 105,853,588 Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -State tax benefit (liability) ($) 0 954,218 1,430,216 1,422,578 1,414,572 1,406,260 1,397,839 1,389,578 1,381,718 1,374,407 1,367,688 1,361,522 1,355,807 1,350,409 1,345,176 1,339,952 1,334,584 1,328,926 1,322,841 1,316,203 1,308,896 817,539 325,306 315,373 304,382 292,249 278,895 264,242 248,213 230,735 -9,454,167 +State tax benefit (liability) ($) 0 976,278 1,452,276 1,444,638 1,436,628 1,428,283 1,419,731 1,411,154 1,402,710 1,394,494 1,386,524 1,378,762 1,371,127 1,363,513 1,355,803 1,347,874 1,339,609 1,330,893 1,321,619 1,311,687 1,301,003 806,207 310,490 297,044 282,522 266,853 249,966 231,791 212,259 191,300 -9,496,882 State ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 State PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal taxable IBI income ($) 0 @@ -373,10 +373,10 @@ minus: Debt interest payment ($) 0 5,369,682 5,288,860 5,203,998 5,114,892 5,021,331 4,923,092 4,819,941 4,711,633 4,597,909 4,478,499 4,353,119 4,221,469 4,083,237 3,938,093 3,785,692 3,625,672 3,457,650 3,281,227 3,095,983 2,901,476 2,697,244 2,482,801 2,257,636 2,021,212 1,772,967 1,512,310 1,238,620 951,246 649,502 332,672 Total federal tax depreciation ($) 0 5,369,682 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 5,369,682 0 0 0 0 0 0 0 0 0 equals: -Federal taxable income ($) 0 -9,648,206 -14,461,069 -14,383,848 -14,302,891 -14,218,855 -14,133,704 -14,050,173 -13,970,700 -13,896,777 -13,828,848 -13,766,497 -13,708,713 -13,654,133 -13,601,224 -13,548,405 -13,494,127 -13,436,916 -13,375,391 -13,308,275 -13,234,388 -8,266,230 -3,289,202 -3,188,770 -3,077,638 -2,954,964 -2,819,938 -2,671,778 -2,509,714 -2,332,984 95,592,130 +Federal taxable income ($) 0 -9,871,256 -14,684,119 -14,606,897 -14,525,900 -14,441,523 -14,355,061 -14,268,337 -14,182,962 -14,099,880 -14,019,298 -13,940,818 -13,863,621 -13,786,636 -13,708,673 -13,628,507 -13,544,935 -13,456,807 -13,363,037 -13,262,610 -13,154,581 -8,151,652 -3,139,398 -3,003,441 -2,856,612 -2,698,181 -2,527,433 -2,343,664 -2,146,172 -1,934,252 96,024,034 Federal income tax rate (frac) 0.0 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 -Federal tax benefit (liability) ($) 0 2,026,123 3,036,824 3,020,608 3,003,607 2,985,960 2,968,078 2,950,536 2,933,847 2,918,323 2,904,058 2,890,964 2,878,830 2,867,368 2,856,257 2,845,165 2,833,767 2,821,752 2,808,832 2,794,738 2,779,222 1,735,908 690,732 669,642 646,304 620,542 592,187 561,073 527,040 489,927 -20,074,347 +Federal tax benefit (liability) ($) 0 2,072,964 3,083,665 3,067,448 3,050,439 3,032,720 3,014,563 2,996,351 2,978,422 2,960,975 2,944,053 2,927,572 2,911,360 2,895,194 2,878,821 2,861,987 2,844,436 2,825,929 2,806,238 2,785,148 2,762,462 1,711,847 659,274 630,723 599,889 566,618 530,761 492,169 450,696 406,193 -20,165,047 CASH INCENTIVES Federal IBI income ($) 0 @@ -416,16 +416,16 @@ Debt principal payment ($) 0 1,616,428 1,69 Debt total payment ($) 0 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 DSCR (DEBT FRACTION) -EBITDA ($) 0 136,939 136,939 136,935 136,792 135,579 130,913 119,555 98,579 66,089 21,326 -35,537 -103,687 -181,942 -268,943 -363,302 -463,676 -568,829 -677,642 -789,132 -902,444 -1,016,844 -1,131,706 -1,246,507 -1,360,808 -1,474,246 -1,586,523 -1,697,400 -1,806,682 -1,914,217 105,378,969 +EBITDA ($) 0 -108,171 -108,171 -108,174 -108,272 -109,111 -112,337 -120,187 -134,676 -157,101 -187,960 -227,099 -273,916 -327,549 -387,019 -451,326 -519,510 -590,687 -664,066 -738,951 -814,744 -890,933 -967,087 -1,042,849 -1,117,922 -1,192,067 -1,265,089 -1,336,835 -1,407,185 -1,476,049 105,853,588 minus: Reserves major equipment 1 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Reserves major equipment 2 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Reserves major equipment 3 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Reserves receivables funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 equals: -Cash available for debt service (CAFDS) ($) 0 136,939 136,939 136,935 136,792 135,579 130,913 119,555 98,579 66,089 21,326 -35,537 -103,687 -181,942 -268,943 -363,302 -463,676 -568,829 -677,642 -789,132 -902,444 -1,016,844 -1,131,706 -1,246,507 -1,360,808 -1,474,246 -1,586,523 -1,697,400 -1,806,682 -1,914,217 105,378,969 +Cash available for debt service (CAFDS) ($) 0 -108,171 -108,171 -108,174 -108,272 -109,111 -112,337 -120,187 -134,676 -157,101 -187,960 -227,099 -273,916 -327,549 -387,019 -451,326 -519,510 -590,687 -664,066 -738,951 -814,744 -890,933 -967,087 -1,042,849 -1,117,922 -1,192,067 -1,265,089 -1,336,835 -1,407,185 -1,476,049 105,853,588 Debt total payment ($) 0 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 -DSCR (pre-tax) 0.0 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.01 0.01 0.0 -0.01 -0.01 -0.03 -0.04 -0.05 -0.07 -0.08 -0.10 -0.11 -0.13 -0.15 -0.16 -0.18 -0.19 -0.21 -0.23 -0.24 -0.26 -0.27 15.08 +DSCR (pre-tax) 0.0 -0.02 -0.02 -0.02 -0.02 -0.02 -0.02 -0.02 -0.02 -0.02 -0.03 -0.03 -0.04 -0.05 -0.06 -0.06 -0.07 -0.08 -0.10 -0.11 -0.12 -0.13 -0.14 -0.15 -0.16 -0.17 -0.18 -0.19 -0.20 -0.21 15.15 RESERVES Reserves working capital funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 From 6af69e06a6735b949acd8f2c64fed8a5beea60dd Mon Sep 17 00:00:00 2001 From: softwareengineerprogrammer <4056124+softwareengineerprogrammer@users.noreply.github.com> Date: Wed, 20 May 2026 10:07:14 -0700 Subject: [PATCH 8/9] minor gitignore update --- .gitignore | 2 ++ 1 file changed, 2 insertions(+) diff --git a/.gitignore b/.gitignore index 9cc88850c..7cf1ec9e6 100644 --- a/.gitignore +++ b/.gitignore @@ -126,6 +126,8 @@ src/geophires_docs/fervo_project_red-2026_graph-data-extraction.xcf /.github/workflows/workflows.7z tmp.patch project-structure.txt +geophires-aliases.sh +*message.txt # Mypy Cache .mypy_cache/ From f7570cd323786ca1e44be7149316378559fc2243 Mon Sep 17 00:00:00 2001 From: softwareengineerprogrammer <4056124+softwareengineerprogrammer@users.noreply.github.com> Date: Wed, 20 May 2026 10:07:32 -0700 Subject: [PATCH 9/9] fix sdac electricity net gen calc --- src/geophires_x/EconomicsSam.py | 7 + tests/examples/S-DAC-GT-2.out | 278 ++++++++++++++++---------------- tests/examples/S-DAC-GT-2.txt | 1 - 3 files changed, 146 insertions(+), 140 deletions(-) diff --git a/src/geophires_x/EconomicsSam.py b/src/geophires_x/EconomicsSam.py index 3b8995081..901a20190 100644 --- a/src/geophires_x/EconomicsSam.py +++ b/src/geophires_x/EconomicsSam.py @@ -588,6 +588,13 @@ def _get_utility_rate_parameters(m: Model) -> dict[str, Any]: max_total_kWh_produced = np.max(m.surfaceplant.TotalkWhProduced.quantity().to(convertible_unit('kWh')).magnitude) + if econ.DoSDACGTCalculations.value: + # Restore the true gross maximum before S-DAC in-place mutation decremented it + sdac_elec_consumption_kwh = ( + np.max(m.sdacgteconomics.CarbonExtractedAnnually.value) * m.sdacgteconomics.elec.value + ) + max_total_kWh_produced += sdac_elec_consumption_kwh + net_kwh_produced_series: Iterable | float | int = ( m.surfaceplant.NetkWhProduced.quantity().to(convertible_unit('kWh')).magnitude ) diff --git a/tests/examples/S-DAC-GT-2.out b/tests/examples/S-DAC-GT-2.out index 14338ee12..c600d4ff6 100644 --- a/tests/examples/S-DAC-GT-2.out +++ b/tests/examples/S-DAC-GT-2.out @@ -6,15 +6,15 @@ Simulation Metadata ---------------------- GEOPHIRES Version: 3.13.8 Simulation Date: 2026-05-20 - Simulation Time: 09:02 - Calculation Time: 0.208 sec + Simulation Time: 10:04 + Calculation Time: 0.206 sec ***SUMMARY OF RESULTS*** End-Use Option: Cogeneration Topping Cycle, Heat sales considered as extra income Average Net Electricity Production: 19.62 MW Average Direct-Use Heat Production: 13.19 MW - Electricity breakeven price: 2.83 cents/kWh + Electricity breakeven price: 11.49 cents/kWh Direct-Use heat breakeven price (LCOH): 0.00 USD/MMBTU Total CAPEX: 214.79 MUSD Electricity CAPEX ($/kWe): 9447 USD/kW @@ -34,11 +34,11 @@ Simulation Metadata WACC: 6.37 % Project lifetime: 30 yr Capacity factor: 90.0 % - Project NPV: 39.07 MUSD - After-tax IRR: 16.64 % - Project VIR=PI=PIR: 1.32 - Project MOIC: 1.23 - Project Payback Period: 5.92 yr + Project NPV: -63.80 MUSD + After-tax IRR: -8.21 % + Project VIR=PI=PIR: 0.50 + Project MOIC: -0.67 + Project Payback Period: N/A CHP: Percent cost allocation for electrical plant: 92.25 % ***ENGINEERING PARAMETERS*** @@ -217,7 +217,7 @@ Simulation Metadata * SAM CASH FLOW PROFILE * *************************** -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- - Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20 Year 21 Year 22 Year 23 Year 24 Year 25 Year 26 Year 27 Year 28 Year 29 Year 30 + Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20 Year 21 Year 22 Year 23 Year 24 Year 25 Year 26 Year 27 Year 28 Year 29 Year 30 CONSTRUCTION Capital expenditure schedule [construction] (%) 100.0 Overnight capital expenditure [construction] ($) -210,575,751 @@ -237,42 +237,42 @@ Installed cost [construction] ($) -214,787,267 After-tax net cash flow [construction] ($) -107,393,633 ENERGY -Electricity to grid (kWh) 0.0 164,262,593 164,262,593 164,262,523 164,259,927 164,237,860 164,153,030 163,946,512 163,565,140 162,974,410 162,160,536 161,126,671 159,887,568 158,464,763 156,882,914 155,167,311 153,342,313 151,430,456 149,452,029 147,424,931 145,364,714 143,284,728 141,196,317 139,109,029 137,030,835 134,968,328 132,926,914 130,910,978 128,924,033 126,968,851 125,142,526 -Electricity from grid (kWh) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -Electricity to grid net (kWh) 0.0 164,262,593 164,262,593 164,262,523 164,259,927 164,237,860 164,153,030 163,946,512 163,565,140 162,974,410 162,160,536 161,126,671 159,887,568 158,464,763 156,882,914 155,167,311 153,342,313 151,430,456 149,452,029 147,424,931 145,364,714 143,284,728 141,196,317 139,109,029 137,030,835 134,968,328 132,926,914 130,910,978 128,924,033 126,968,851 125,142,526 +Electricity to grid (kWh) 0.0 93,616,277 93,616,277 93,616,237 93,614,757 93,602,181 93,553,835 93,436,136 93,218,785 92,882,117 92,418,275 91,829,057 91,122,869 90,311,987 89,410,462 88,432,708 87,392,608 86,303,005 85,175,464 84,020,183 82,846,027 81,660,605 80,470,381 79,280,797 78,096,396 76,920,935 75,757,496 74,608,577 73,476,180 72,361,886 71,321,030 +Electricity from grid (kWh) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 +Electricity to grid net (kWh) 0.0 93,616,277 93,616,277 93,616,237 93,614,757 93,602,181 93,553,835 93,436,136 93,218,785 92,882,117 92,418,275 91,829,057 91,122,869 90,311,987 89,410,462 88,432,708 87,392,608 86,303,005 85,175,464 84,020,183 82,846,027 81,660,605 80,470,381 79,280,797 78,096,396 76,920,935 75,757,496 74,608,577 73,476,180 72,361,886 71,321,030 REVENUE -PPA price (cents/kWh) 0.0 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 -PPA revenue ($) 0 9,034,443 9,034,443 9,034,439 9,034,296 9,033,082 9,028,417 9,017,058 8,996,083 8,963,593 8,918,829 8,861,967 8,793,816 8,715,562 8,628,560 8,534,202 8,433,827 8,328,675 8,219,862 8,108,371 7,995,059 7,880,660 7,765,797 7,650,997 7,536,696 7,423,258 7,310,980 7,200,104 7,090,822 6,983,287 6,882,839 -Curtailment payment revenue ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Capacity payment revenue ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Salvage value ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 107,393,633 -Total revenue ($) 0 9,034,443 9,034,443 9,034,439 9,034,296 9,033,082 9,028,417 9,017,058 8,996,083 8,963,593 8,918,829 8,861,967 8,793,816 8,715,562 8,628,560 8,534,202 8,433,827 8,328,675 8,219,862 8,108,371 7,995,059 7,880,660 7,765,797 7,650,997 7,536,696 7,423,258 7,310,980 7,200,104 7,090,822 6,983,287 114,276,472 +PPA price (cents/kWh) 0.0 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 5.50 +PPA revenue ($) 0 5,148,895 5,148,895 5,148,893 5,148,812 5,148,120 5,145,461 5,138,987 5,127,033 5,108,516 5,083,005 5,050,598 5,011,758 4,967,159 4,917,575 4,863,799 4,806,593 4,746,665 4,684,650 4,621,110 4,556,531 4,491,333 4,425,871 4,360,444 4,295,302 4,230,651 4,166,662 4,103,472 4,041,190 3,979,904 3,922,657 +Curtailment payment revenue ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Capacity payment revenue ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Salvage value ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 107,393,633 +Total revenue ($) 0 5,148,895 5,148,895 5,148,893 5,148,812 5,148,120 5,145,461 5,138,987 5,127,033 5,108,516 5,083,005 5,050,598 5,011,758 4,967,159 4,917,575 4,863,799 4,806,593 4,746,665 4,684,650 4,621,110 4,556,531 4,491,333 4,425,871 4,360,444 4,295,302 4,230,651 4,166,662 4,103,472 4,041,190 3,979,904 111,316,290 -Property tax net assessed value ($) 0 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 +Property tax net assessed value ($) 0 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 214,787,267 OPERATING EXPENSES -O&M fixed expense ($) 0 9,142,614 9,142,614 9,142,612 9,142,568 9,142,194 9,140,753 9,137,245 9,130,758 9,120,693 9,106,789 9,089,066 9,067,732 9,043,111 9,015,579 8,985,528 8,953,337 8,919,362 8,883,927 8,847,323 8,809,803 8,771,593 8,732,885 8,693,845 8,654,618 8,615,325 8,576,069 8,536,939 8,498,007 8,459,336 8,422,884 -O&M production-based expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -O&M capacity-based expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Fuel expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Electricity purchase ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Property tax expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Insurance expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Total operating expenses ($) 0 9,142,614 9,142,614 9,142,612 9,142,568 9,142,194 9,140,753 9,137,245 9,130,758 9,120,693 9,106,789 9,089,066 9,067,732 9,043,111 9,015,579 8,985,528 8,953,337 8,919,362 8,883,927 8,847,323 8,809,803 8,771,593 8,732,885 8,693,845 8,654,618 8,615,325 8,576,069 8,536,939 8,498,007 8,459,336 8,422,884 +O&M fixed expense ($) 0 9,142,614 9,142,614 9,142,612 9,142,568 9,142,194 9,140,753 9,137,245 9,130,758 9,120,693 9,106,789 9,089,066 9,067,732 9,043,111 9,015,579 8,985,528 8,953,337 8,919,362 8,883,927 8,847,323 8,809,803 8,771,593 8,732,885 8,693,845 8,654,618 8,615,325 8,576,069 8,536,939 8,498,007 8,459,336 8,422,884 +O&M production-based expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +O&M capacity-based expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Fuel expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Electricity purchase ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Property tax expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Insurance expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Total operating expenses ($) 0 9,142,614 9,142,614 9,142,612 9,142,568 9,142,194 9,140,753 9,137,245 9,130,758 9,120,693 9,106,789 9,089,066 9,067,732 9,043,111 9,015,579 8,985,528 8,953,337 8,919,362 8,883,927 8,847,323 8,809,803 8,771,593 8,732,885 8,693,845 8,654,618 8,615,325 8,576,069 8,536,939 8,498,007 8,459,336 8,422,884 -EBITDA ($) 0 -108,171 -108,171 -108,174 -108,272 -109,111 -112,337 -120,187 -134,676 -157,101 -187,960 -227,099 -273,916 -327,549 -387,019 -451,326 -519,510 -590,687 -664,066 -738,951 -814,744 -890,933 -967,087 -1,042,849 -1,117,922 -1,192,067 -1,265,089 -1,336,835 -1,407,185 -1,476,049 105,853,588 +EBITDA ($) 0 -3,993,718 -3,993,718 -3,993,719 -3,993,757 -3,994,074 -3,995,292 -3,998,257 -4,003,725 -4,012,177 -4,023,784 -4,038,468 -4,055,974 -4,075,952 -4,098,004 -4,121,729 -4,146,743 -4,172,697 -4,199,277 -4,226,212 -4,253,272 -4,280,259 -4,307,014 -4,333,402 -4,359,316 -4,384,674 -4,409,407 -4,433,467 -4,456,817 -4,479,432 102,893,406 OPERATING ACTIVITIES -EBITDA ($) 0 -108,171 -108,171 -108,174 -108,272 -109,111 -112,337 -120,187 -134,676 -157,101 -187,960 -227,099 -273,916 -327,549 -387,019 -451,326 -519,510 -590,687 -664,066 -738,951 -814,744 -890,933 -967,087 -1,042,849 -1,117,922 -1,192,067 -1,265,089 -1,336,835 -1,407,185 -1,476,049 105,853,588 -Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +EBITDA ($) 0 -3,993,718 -3,993,718 -3,993,719 -3,993,757 -3,994,074 -3,995,292 -3,998,257 -4,003,725 -4,012,177 -4,023,784 -4,038,468 -4,055,974 -4,075,952 -4,098,004 -4,121,729 -4,146,743 -4,172,697 -4,199,277 -4,226,212 -4,253,272 -4,280,259 -4,307,014 -4,333,402 -4,359,316 -4,384,674 -4,409,407 -4,433,467 -4,456,817 -4,479,432 102,893,406 +Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 plus PBI if not available for debt service: -Federal PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -State PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Utility PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Other PBI income ($) 0 24,739,584 24,739,584 24,739,579 24,739,396 24,737,839 24,731,853 24,717,273 24,690,318 24,648,489 24,590,708 24,517,054 24,428,398 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Debt interest payment ($) 0 5,369,682 5,288,860 5,203,998 5,114,892 5,021,331 4,923,092 4,819,941 4,711,633 4,597,909 4,478,499 4,353,119 4,221,469 4,083,237 3,938,093 3,785,692 3,625,672 3,457,650 3,281,227 3,095,983 2,901,476 2,697,244 2,482,801 2,257,636 2,021,212 1,772,967 1,512,310 1,238,620 951,246 649,502 332,672 -Cash flow from operating activities ($) 0 19,261,731 19,342,553 19,427,408 19,516,231 19,607,397 19,696,424 19,777,145 19,844,009 19,893,479 19,924,249 19,936,836 19,933,013 -4,410,786 -4,325,112 -4,237,018 -4,145,181 -4,048,336 -3,945,292 -3,834,934 -3,716,220 -3,588,177 -3,449,888 -3,300,485 -3,139,134 -2,965,034 -2,777,399 -2,575,455 -2,358,431 -2,125,552 105,520,916 +Federal PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Utility PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Other PBI income ($) 0 14,099,544 14,099,544 14,099,542 14,099,437 14,098,550 14,095,139 14,086,829 14,071,467 14,047,628 14,014,697 13,972,720 13,922,194 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Debt interest payment ($) 0 5,369,682 5,288,860 5,203,998 5,114,892 5,021,331 4,923,092 4,819,941 4,711,633 4,597,909 4,478,499 4,353,119 4,221,469 4,083,237 3,938,093 3,785,692 3,625,672 3,457,650 3,281,227 3,095,983 2,901,476 2,697,244 2,482,801 2,257,636 2,021,212 1,772,967 1,512,310 1,238,620 951,246 649,502 332,672 +Cash flow from operating activities ($) 0 4,736,144 4,816,966 4,901,825 4,990,788 5,083,145 5,176,754 5,268,630 5,356,108 5,437,542 5,512,414 5,581,134 5,644,750 -8,159,189 -8,036,097 -7,907,421 -7,772,415 -7,630,346 -7,480,503 -7,322,195 -7,154,748 -6,977,504 -6,789,815 -6,591,037 -6,380,529 -6,157,641 -5,921,717 -5,672,087 -5,408,063 -5,128,935 102,560,734 INVESTING ACTIVITIES Total installed cost ($) -214,787,267 @@ -284,99 +284,99 @@ Total CBI income ($) 0 equals: Purchase of property ($) -214,787,267 plus: -Reserve (increase)/decrease debt service ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserve (increase)/decrease working capital ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserve (increase)/decrease receivables ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserve (increase)/decrease major equipment 1 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserve (increase)/decrease major equipment 2 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserve (increase)/decrease major equipment 3 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserve capital spending major equipment 1 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserve capital spending major equipment 2 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserve capital spending major equipment 3 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserve (increase)/decrease debt service ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserve (increase)/decrease working capital ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserve (increase)/decrease receivables ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserve (increase)/decrease major equipment 1 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserve (increase)/decrease major equipment 2 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserve (increase)/decrease major equipment 3 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserve capital spending major equipment 1 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserve capital spending major equipment 2 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserve capital spending major equipment 3 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 equals: -Cash flow from investing activities ($) -214,787,267 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Cash flow from investing activities ($) -214,787,267 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 FINANCING ACTIVITIES Issuance of equity ($) 107,393,633 Size of debt ($) 107,393,633 minus: -Debt principal payment ($) 0 1,616,428 1,697,250 1,782,112 1,871,218 1,964,779 2,063,018 2,166,169 2,274,477 2,388,201 2,507,611 2,632,991 2,764,641 2,902,873 3,048,017 3,200,417 3,360,438 3,528,460 3,704,883 3,890,127 4,084,634 4,288,865 4,503,309 4,728,474 4,964,898 5,213,143 5,473,800 5,747,490 6,034,864 6,336,608 6,653,438 +Debt principal payment ($) 0 1,616,428 1,697,250 1,782,112 1,871,218 1,964,779 2,063,018 2,166,169 2,274,477 2,388,201 2,507,611 2,632,991 2,764,641 2,902,873 3,048,017 3,200,417 3,360,438 3,528,460 3,704,883 3,890,127 4,084,634 4,288,865 4,503,309 4,728,474 4,964,898 5,213,143 5,473,800 5,747,490 6,034,864 6,336,608 6,653,438 equals: -Cash flow from financing activities ($) 214,787,267 -1,616,428 -1,697,250 -1,782,112 -1,871,218 -1,964,779 -2,063,018 -2,166,169 -2,274,477 -2,388,201 -2,507,611 -2,632,991 -2,764,641 -2,902,873 -3,048,017 -3,200,417 -3,360,438 -3,528,460 -3,704,883 -3,890,127 -4,084,634 -4,288,865 -4,503,309 -4,728,474 -4,964,898 -5,213,143 -5,473,800 -5,747,490 -6,034,864 -6,336,608 -6,653,438 +Cash flow from financing activities ($) 214,787,267 -1,616,428 -1,697,250 -1,782,112 -1,871,218 -1,964,779 -2,063,018 -2,166,169 -2,274,477 -2,388,201 -2,507,611 -2,632,991 -2,764,641 -2,902,873 -3,048,017 -3,200,417 -3,360,438 -3,528,460 -3,704,883 -3,890,127 -4,084,634 -4,288,865 -4,503,309 -4,728,474 -4,964,898 -5,213,143 -5,473,800 -5,747,490 -6,034,864 -6,336,608 -6,653,438 PROJECT RETURNS Pre-tax Cash Flow: -Cash flow from operating activities ($) 0 19,261,731 19,342,553 19,427,408 19,516,231 19,607,397 19,696,424 19,777,145 19,844,009 19,893,479 19,924,249 19,936,836 19,933,013 -4,410,786 -4,325,112 -4,237,018 -4,145,181 -4,048,336 -3,945,292 -3,834,934 -3,716,220 -3,588,177 -3,449,888 -3,300,485 -3,139,134 -2,965,034 -2,777,399 -2,575,455 -2,358,431 -2,125,552 105,520,916 -Cash flow from investing activities ($) -214,787,267 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Cash flow from financing activities ($) 214,787,267 -1,616,428 -1,697,250 -1,782,112 -1,871,218 -1,964,779 -2,063,018 -2,166,169 -2,274,477 -2,388,201 -2,507,611 -2,632,991 -2,764,641 -2,902,873 -3,048,017 -3,200,417 -3,360,438 -3,528,460 -3,704,883 -3,890,127 -4,084,634 -4,288,865 -4,503,309 -4,728,474 -4,964,898 -5,213,143 -5,473,800 -5,747,490 -6,034,864 -6,336,608 -6,653,438 -Total pre-tax cash flow ($) 0 17,645,303 17,645,303 17,645,295 17,645,014 17,642,618 17,633,407 17,610,976 17,569,532 17,505,278 17,416,638 17,303,845 17,168,372 -7,313,659 -7,373,129 -7,437,436 -7,505,620 -7,576,797 -7,650,176 -7,725,061 -7,800,854 -7,877,043 -7,953,197 -8,028,959 -8,104,032 -8,178,177 -8,251,199 -8,322,945 -8,393,295 -8,462,159 98,867,478 +Cash flow from operating activities ($) 0 4,736,144 4,816,966 4,901,825 4,990,788 5,083,145 5,176,754 5,268,630 5,356,108 5,437,542 5,512,414 5,581,134 5,644,750 -8,159,189 -8,036,097 -7,907,421 -7,772,415 -7,630,346 -7,480,503 -7,322,195 -7,154,748 -6,977,504 -6,789,815 -6,591,037 -6,380,529 -6,157,641 -5,921,717 -5,672,087 -5,408,063 -5,128,935 102,560,734 +Cash flow from investing activities ($) -214,787,267 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Cash flow from financing activities ($) 214,787,267 -1,616,428 -1,697,250 -1,782,112 -1,871,218 -1,964,779 -2,063,018 -2,166,169 -2,274,477 -2,388,201 -2,507,611 -2,632,991 -2,764,641 -2,902,873 -3,048,017 -3,200,417 -3,360,438 -3,528,460 -3,704,883 -3,890,127 -4,084,634 -4,288,865 -4,503,309 -4,728,474 -4,964,898 -5,213,143 -5,473,800 -5,747,490 -6,034,864 -6,336,608 -6,653,438 +Total pre-tax cash flow ($) 0 3,119,716 3,119,716 3,119,712 3,119,571 3,118,366 3,113,736 3,102,462 3,081,631 3,049,341 3,004,803 2,948,143 2,880,109 -11,062,062 -11,084,114 -11,107,839 -11,132,853 -11,158,807 -11,185,387 -11,212,322 -11,239,382 -11,266,369 -11,293,124 -11,319,511 -11,345,426 -11,370,784 -11,395,517 -11,419,577 -11,442,927 -11,465,542 95,907,296 Pre-tax Returns: Issuance of equity ($) 107,393,633 -Total pre-tax cash flow ($) 0 17,645,303 17,645,303 17,645,295 17,645,014 17,642,618 17,633,407 17,610,976 17,569,532 17,505,278 17,416,638 17,303,845 17,168,372 -7,313,659 -7,373,129 -7,437,436 -7,505,620 -7,576,797 -7,650,176 -7,725,061 -7,800,854 -7,877,043 -7,953,197 -8,028,959 -8,104,032 -8,178,177 -8,251,199 -8,322,945 -8,393,295 -8,462,159 98,867,478 -Total pre-tax returns ($) -107,393,633 17,645,303 17,645,303 17,645,295 17,645,014 17,642,618 17,633,407 17,610,976 17,569,532 17,505,278 17,416,638 17,303,845 17,168,372 -7,313,659 -7,373,129 -7,437,436 -7,505,620 -7,576,797 -7,650,176 -7,725,061 -7,800,854 -7,877,043 -7,953,197 -8,028,959 -8,104,032 -8,178,177 -8,251,199 -8,322,945 -8,393,295 -8,462,159 98,867,478 +Total pre-tax cash flow ($) 0 3,119,716 3,119,716 3,119,712 3,119,571 3,118,366 3,113,736 3,102,462 3,081,631 3,049,341 3,004,803 2,948,143 2,880,109 -11,062,062 -11,084,114 -11,107,839 -11,132,853 -11,158,807 -11,185,387 -11,212,322 -11,239,382 -11,266,369 -11,293,124 -11,319,511 -11,345,426 -11,370,784 -11,395,517 -11,419,577 -11,442,927 -11,465,542 95,907,296 +Total pre-tax returns ($) -107,393,633 3,119,716 3,119,716 3,119,712 3,119,571 3,118,366 3,113,736 3,102,462 3,081,631 3,049,341 3,004,803 2,948,143 2,880,109 -11,062,062 -11,084,114 -11,107,839 -11,132,853 -11,158,807 -11,185,387 -11,212,322 -11,239,382 -11,266,369 -11,293,124 -11,319,511 -11,345,426 -11,370,784 -11,395,517 -11,419,577 -11,442,927 -11,465,542 95,907,296 After-tax Returns: -Total pre-tax returns ($) -107,393,633 17,645,303 17,645,303 17,645,295 17,645,014 17,642,618 17,633,407 17,610,976 17,569,532 17,505,278 17,416,638 17,303,845 17,168,372 -7,313,659 -7,373,129 -7,437,436 -7,505,620 -7,576,797 -7,650,176 -7,725,061 -7,800,854 -7,877,043 -7,953,197 -8,028,959 -8,104,032 -8,178,177 -8,251,199 -8,322,945 -8,393,295 -8,462,159 98,867,478 -Federal ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Federal PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Federal tax benefit (liability) ($) 0 2,072,964 3,083,665 3,067,448 3,050,439 3,032,720 3,014,563 2,996,351 2,978,422 2,960,975 2,944,053 2,927,572 2,911,360 2,895,194 2,878,821 2,861,987 2,844,436 2,825,929 2,806,238 2,785,148 2,762,462 1,711,847 659,274 630,723 599,889 566,618 530,761 492,169 450,696 406,193 -20,165,047 -State ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -State PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -State tax benefit (liability) ($) 0 976,278 1,452,276 1,444,638 1,436,628 1,428,283 1,419,731 1,411,154 1,402,710 1,394,494 1,386,524 1,378,762 1,371,127 1,363,513 1,355,803 1,347,874 1,339,609 1,330,893 1,321,619 1,311,687 1,301,003 806,207 310,490 297,044 282,522 266,853 249,966 231,791 212,259 191,300 -9,496,882 -Total after-tax returns ($) -107,393,633 20,694,545 22,181,244 22,157,382 22,132,080 22,103,620 22,067,701 22,018,481 21,950,664 21,860,747 21,747,215 21,610,179 21,450,860 -3,054,952 -3,138,505 -3,227,575 -3,321,574 -3,419,974 -3,522,319 -3,628,226 -3,737,389 -5,358,989 -6,983,433 -7,101,193 -7,221,622 -7,344,706 -7,470,472 -7,598,985 -7,730,340 -7,864,667 69,205,549 - -After-tax net cash flow ($) -107,393,633 20,694,545 22,181,244 22,157,382 22,132,080 22,103,620 22,067,701 22,018,481 21,950,664 21,860,747 21,747,215 21,610,179 21,450,860 -3,054,952 -3,138,505 -3,227,575 -3,321,574 -3,419,974 -3,522,319 -3,628,226 -3,737,389 -5,358,989 -6,983,433 -7,101,193 -7,221,622 -7,344,706 -7,470,472 -7,598,985 -7,730,340 -7,864,667 69,205,549 -After-tax cumulative IRR (%) NaN -80.73 -43.91 -21.24 -7.79 0.57 6.02 9.72 12.30 14.16 15.52 16.54 17.31 17.22 17.14 17.07 17.01 16.95 16.90 16.86 16.82 16.77 -14.18 -11.81 -9.91 -8.35 -7.03 -5.90 -4.92 -4.06 16.64 -After-tax cumulative NPV ($) -107,393,633 -88,432,166 -69,810,523 -52,766,716 -37,168,087 -22,894,154 -9,836,854 2,100,270 13,004,025 22,953,713 32,022,812 40,280,052 47,790,007 46,810,036 45,887,576 45,018,382 44,198,784 43,425,577 42,695,922 42,007,271 41,357,307 40,503,381 39,483,800 38,533,850 37,648,694 36,823,843 36,055,128 35,338,672 34,670,870 34,048,361 39,067,421 +Total pre-tax returns ($) -107,393,633 3,119,716 3,119,716 3,119,712 3,119,571 3,118,366 3,113,736 3,102,462 3,081,631 3,049,341 3,004,803 2,948,143 2,880,109 -11,062,062 -11,084,114 -11,107,839 -11,132,853 -11,158,807 -11,185,387 -11,212,322 -11,239,382 -11,266,369 -11,293,124 -11,319,511 -11,345,426 -11,370,784 -11,395,517 -11,419,577 -11,442,927 -11,465,542 95,907,296 +Federal ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Federal PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Federal tax benefit (liability) ($) 0 2,815,492 3,826,193 3,809,976 3,792,955 3,775,136 3,756,596 3,737,450 3,717,797 3,697,680 3,677,079 3,655,924 3,634,112 3,611,513 3,587,991 3,563,401 3,537,601 3,510,452 3,481,817 3,451,564 3,419,565 2,359,547 1,297,534 1,259,547 1,219,319 1,176,725 1,131,640 1,083,936 1,033,481 980,139 -19,599,356 +State ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State tax benefit (liability) ($) 0 1,325,977 1,801,975 1,794,337 1,786,321 1,777,929 1,769,197 1,760,181 1,750,925 1,741,450 1,731,748 1,721,785 1,711,513 1,700,870 1,689,791 1,678,211 1,666,060 1,653,274 1,639,788 1,625,540 1,610,470 1,111,247 611,083 593,193 574,248 554,188 532,955 510,488 486,726 461,604 -9,230,466 +Total after-tax returns ($) -107,393,633 7,261,185 8,747,884 8,724,026 8,698,847 8,671,432 8,639,529 8,600,092 8,550,354 8,488,471 8,413,630 8,325,853 8,225,734 -5,749,679 -5,806,332 -5,866,228 -5,929,192 -5,995,081 -6,063,782 -6,135,218 -6,209,347 -7,795,576 -9,384,507 -9,466,771 -9,551,860 -9,639,871 -9,730,922 -9,825,153 -9,922,721 -10,023,799 67,077,473 + +After-tax net cash flow ($) -107,393,633 7,261,185 8,747,884 8,724,026 8,698,847 8,671,432 8,639,529 8,600,092 8,550,354 8,488,471 8,413,630 8,325,853 8,225,734 -5,749,679 -5,806,332 -5,866,228 -5,929,192 -5,995,081 -6,063,782 -6,135,218 -6,209,347 -7,795,576 -9,384,507 -9,466,771 -9,551,860 -9,639,871 -9,730,922 -9,825,153 -9,922,721 -10,023,799 67,077,473 +After-tax cumulative IRR (%) NaN -93.24 -67.88 -47.81 -34.02 -24.51 -17.75 -12.81 -9.11 -6.27 -4.05 -2.29 -0.88 -1.85 -3.09 -4.89 NaN NaN NaN NaN NaN NaN NaN NaN NaN NaN NaN NaN NaN NaN -8.21 +After-tax cumulative NPV ($) -107,393,633 -100,740,541 -93,396,499 -86,685,841 -80,554,918 -74,955,136 -69,843,189 -65,180,726 -60,933,430 -57,069,992 -53,561,311 -50,380,006 -47,500,173 -49,344,561 -51,051,141 -52,630,932 -54,093,959 -55,449,360 -56,705,484 -57,869,972 -58,949,831 -60,192,013 -61,562,152 -62,828,552 -63,999,326 -65,081,937 -66,083,254 -67,009,599 -67,866,795 -68,660,205 -63,795,481 AFTER-TAX LCOE AND PPA PRICE -Annual costs ($) -107,393,633 11,660,102 13,146,801 13,122,943 13,097,784 13,070,538 13,039,284 13,001,423 12,954,582 12,897,154 12,828,386 12,748,212 12,657,043 -11,770,514 -11,767,065 -11,761,777 -11,755,401 -11,748,649 -11,742,181 -11,736,598 -11,732,449 -13,239,649 -14,749,231 -14,752,189 -14,758,318 -14,767,964 -14,781,452 -14,799,088 -14,821,162 -14,847,953 62,322,710 -PPA revenue ($) 0 9,034,443 9,034,443 9,034,439 9,034,296 9,033,082 9,028,417 9,017,058 8,996,083 8,963,593 8,918,829 8,861,967 8,793,816 8,715,562 8,628,560 8,534,202 8,433,827 8,328,675 8,219,862 8,108,371 7,995,059 7,880,660 7,765,797 7,650,997 7,536,696 7,423,258 7,310,980 7,200,104 7,090,822 6,983,287 6,882,839 -Electricity to grid (kWh) 0 164,262,593 164,262,593 164,262,523 164,259,927 164,237,860 164,153,030 163,946,512 163,565,140 162,974,410 162,160,536 161,126,671 159,887,568 158,464,763 156,882,914 155,167,311 153,342,313 151,430,456 149,452,029 147,424,931 145,364,714 143,284,728 141,196,317 139,109,029 137,030,835 134,968,328 132,926,914 130,910,978 128,924,033 126,968,851 125,142,526 +Annual costs ($) -107,393,633 2,112,290 3,598,989 3,575,133 3,550,035 3,523,312 3,494,068 3,461,105 3,423,320 3,379,955 3,330,625 3,275,255 3,213,976 -10,716,838 -10,723,907 -10,730,027 -10,735,786 -10,741,746 -10,748,433 -10,756,328 -10,765,879 -12,286,909 -13,810,378 -13,827,215 -13,847,162 -13,870,522 -13,897,585 -13,928,625 -13,963,911 -14,003,703 63,154,817 +PPA revenue ($) 0 5,148,895 5,148,895 5,148,893 5,148,812 5,148,120 5,145,461 5,138,987 5,127,033 5,108,516 5,083,005 5,050,598 5,011,758 4,967,159 4,917,575 4,863,799 4,806,593 4,746,665 4,684,650 4,621,110 4,556,531 4,491,333 4,425,871 4,360,444 4,295,302 4,230,651 4,166,662 4,103,472 4,041,190 3,979,904 3,922,657 +Electricity to grid (kWh) 0 93,616,277 93,616,277 93,616,237 93,614,757 93,602,181 93,553,835 93,436,136 93,218,785 92,882,117 92,418,275 91,829,057 91,122,869 90,311,987 89,410,462 88,432,708 87,392,608 86,303,005 85,175,464 84,020,183 82,846,027 81,660,605 80,470,381 79,280,797 78,096,396 76,920,935 75,757,496 74,608,577 73,476,180 72,361,886 71,321,030 -Present value of annual costs ($) 49,400,813 +Present value of annual costs ($) 114,215,156 -Present value of annual energy costs ($) 45,573,430 -Present value of annual energy nominal (kWh) 1,608,513,342 -LCOE Levelized cost of energy nominal (cents/kWh) 2.83 +Present value of annual energy costs ($) 105,366,211 +Present value of annual energy nominal (kWh) 916,721,372 +LCOE Levelized cost of energy nominal (cents/kWh) 11.49 -Present value of PPA revenue ($) 88,468,234 -Present value of annual energy nominal (kWh) 1,608,513,342 +Present value of PPA revenue ($) 50,419,674 +Present value of annual energy nominal (kWh) 916,721,372 LPPA Levelized PPA price nominal (cents/kWh) 5.50 PROJECT STATE INCOME TAXES -EBITDA ($) 0 -108,171 -108,171 -108,174 -108,272 -109,111 -112,337 -120,187 -134,676 -157,101 -187,960 -227,099 -273,916 -327,549 -387,019 -451,326 -519,510 -590,687 -664,066 -738,951 -814,744 -890,933 -967,087 -1,042,849 -1,117,922 -1,192,067 -1,265,089 -1,336,835 -1,407,185 -1,476,049 105,853,588 -State taxable PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +EBITDA ($) 0 -3,993,718 -3,993,718 -3,993,719 -3,993,757 -3,994,074 -3,995,292 -3,998,257 -4,003,725 -4,012,177 -4,023,784 -4,038,468 -4,055,974 -4,075,952 -4,098,004 -4,121,729 -4,146,743 -4,172,697 -4,199,277 -4,226,212 -4,253,272 -4,280,259 -4,307,014 -4,333,402 -4,359,316 -4,384,674 -4,409,407 -4,433,467 -4,456,817 -4,479,432 102,893,406 +State taxable PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 State taxable IBI income ($) 0 State taxable CBI income ($) 0 minus: -Debt interest payment ($) 0 5,369,682 5,288,860 5,203,998 5,114,892 5,021,331 4,923,092 4,819,941 4,711,633 4,597,909 4,478,499 4,353,119 4,221,469 4,083,237 3,938,093 3,785,692 3,625,672 3,457,650 3,281,227 3,095,983 2,901,476 2,697,244 2,482,801 2,257,636 2,021,212 1,772,967 1,512,310 1,238,620 951,246 649,502 332,672 -Total state tax depreciation ($) 0 5,369,682 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 5,369,682 0 0 0 0 0 0 0 0 0 +Debt interest payment ($) 0 5,369,682 5,288,860 5,203,998 5,114,892 5,021,331 4,923,092 4,819,941 4,711,633 4,597,909 4,478,499 4,353,119 4,221,469 4,083,237 3,938,093 3,785,692 3,625,672 3,457,650 3,281,227 3,095,983 2,901,476 2,697,244 2,482,801 2,257,636 2,021,212 1,772,967 1,512,310 1,238,620 951,246 649,502 332,672 +Total state tax depreciation ($) 0 5,369,682 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 5,369,682 0 0 0 0 0 0 0 0 0 equals: -State taxable income ($) 0 -10,847,534 -16,136,394 -16,051,535 -15,962,528 -15,869,806 -15,774,792 -15,679,491 -15,585,672 -15,494,373 -15,405,822 -15,319,581 -15,234,748 -15,150,149 -15,064,476 -14,976,382 -14,884,544 -14,787,700 -14,684,656 -14,574,297 -14,455,583 -8,957,859 -3,449,888 -3,300,485 -3,139,134 -2,965,034 -2,777,399 -2,575,455 -2,358,431 -2,125,552 105,520,916 +State taxable income ($) 0 -14,733,082 -20,021,942 -19,937,080 -19,848,012 -19,754,768 -19,657,748 -19,557,562 -19,454,722 -19,349,449 -19,241,647 -19,130,949 -19,016,807 -18,898,552 -18,775,461 -18,646,785 -18,511,778 -18,369,710 -18,219,867 -18,061,558 -17,894,111 -12,347,186 -6,789,815 -6,591,037 -6,380,529 -6,157,641 -5,921,717 -5,672,087 -5,408,063 -5,128,935 102,560,734 -State income tax rate (frac) 0.0 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 -State tax benefit (liability) ($) 0 976,278 1,452,276 1,444,638 1,436,628 1,428,283 1,419,731 1,411,154 1,402,710 1,394,494 1,386,524 1,378,762 1,371,127 1,363,513 1,355,803 1,347,874 1,339,609 1,330,893 1,321,619 1,311,687 1,301,003 806,207 310,490 297,044 282,522 266,853 249,966 231,791 212,259 191,300 -9,496,882 +State income tax rate (frac) 0.0 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 +State tax benefit (liability) ($) 0 1,325,977 1,801,975 1,794,337 1,786,321 1,777,929 1,769,197 1,760,181 1,750,925 1,741,450 1,731,748 1,721,785 1,711,513 1,700,870 1,689,791 1,678,211 1,666,060 1,653,274 1,639,788 1,625,540 1,610,470 1,111,247 611,083 593,193 574,248 554,188 532,955 510,488 486,726 461,604 -9,230,466 PROJECT FEDERAL INCOME TAXES -EBITDA ($) 0 -108,171 -108,171 -108,174 -108,272 -109,111 -112,337 -120,187 -134,676 -157,101 -187,960 -227,099 -273,916 -327,549 -387,019 -451,326 -519,510 -590,687 -664,066 -738,951 -814,744 -890,933 -967,087 -1,042,849 -1,117,922 -1,192,067 -1,265,089 -1,336,835 -1,407,185 -1,476,049 105,853,588 -Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -State tax benefit (liability) ($) 0 976,278 1,452,276 1,444,638 1,436,628 1,428,283 1,419,731 1,411,154 1,402,710 1,394,494 1,386,524 1,378,762 1,371,127 1,363,513 1,355,803 1,347,874 1,339,609 1,330,893 1,321,619 1,311,687 1,301,003 806,207 310,490 297,044 282,522 266,853 249,966 231,791 212,259 191,300 -9,496,882 -State ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -State PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +EBITDA ($) 0 -3,993,718 -3,993,718 -3,993,719 -3,993,757 -3,994,074 -3,995,292 -3,998,257 -4,003,725 -4,012,177 -4,023,784 -4,038,468 -4,055,974 -4,075,952 -4,098,004 -4,121,729 -4,146,743 -4,172,697 -4,199,277 -4,226,212 -4,253,272 -4,280,259 -4,307,014 -4,333,402 -4,359,316 -4,384,674 -4,409,407 -4,433,467 -4,456,817 -4,479,432 102,893,406 +Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State tax benefit (liability) ($) 0 1,325,977 1,801,975 1,794,337 1,786,321 1,777,929 1,769,197 1,760,181 1,750,925 1,741,450 1,731,748 1,721,785 1,711,513 1,700,870 1,689,791 1,678,211 1,666,060 1,653,274 1,639,788 1,625,540 1,610,470 1,111,247 611,083 593,193 574,248 554,188 532,955 510,488 486,726 461,604 -9,230,466 +State ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal taxable IBI income ($) 0 Federal taxable CBI income ($) 0 -Federal taxable PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Federal taxable PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 minus: -Debt interest payment ($) 0 5,369,682 5,288,860 5,203,998 5,114,892 5,021,331 4,923,092 4,819,941 4,711,633 4,597,909 4,478,499 4,353,119 4,221,469 4,083,237 3,938,093 3,785,692 3,625,672 3,457,650 3,281,227 3,095,983 2,901,476 2,697,244 2,482,801 2,257,636 2,021,212 1,772,967 1,512,310 1,238,620 951,246 649,502 332,672 -Total federal tax depreciation ($) 0 5,369,682 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 5,369,682 0 0 0 0 0 0 0 0 0 +Debt interest payment ($) 0 5,369,682 5,288,860 5,203,998 5,114,892 5,021,331 4,923,092 4,819,941 4,711,633 4,597,909 4,478,499 4,353,119 4,221,469 4,083,237 3,938,093 3,785,692 3,625,672 3,457,650 3,281,227 3,095,983 2,901,476 2,697,244 2,482,801 2,257,636 2,021,212 1,772,967 1,512,310 1,238,620 951,246 649,502 332,672 +Total federal tax depreciation ($) 0 5,369,682 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 10,739,363 5,369,682 0 0 0 0 0 0 0 0 0 equals: -Federal taxable income ($) 0 -9,871,256 -14,684,119 -14,606,897 -14,525,900 -14,441,523 -14,355,061 -14,268,337 -14,182,962 -14,099,880 -14,019,298 -13,940,818 -13,863,621 -13,786,636 -13,708,673 -13,628,507 -13,544,935 -13,456,807 -13,363,037 -13,262,610 -13,154,581 -8,151,652 -3,139,398 -3,003,441 -2,856,612 -2,698,181 -2,527,433 -2,343,664 -2,146,172 -1,934,252 96,024,034 +Federal taxable income ($) 0 -13,407,104 -18,219,967 -18,142,743 -18,061,691 -17,976,839 -17,888,551 -17,797,381 -17,703,797 -17,607,999 -17,509,898 -17,409,164 -17,305,294 -17,197,683 -17,085,669 -16,968,574 -16,845,718 -16,716,436 -16,580,079 -16,436,018 -16,283,641 -11,235,939 -6,178,731 -5,997,844 -5,806,281 -5,603,453 -5,388,763 -5,161,599 -4,921,337 -4,667,331 93,330,268 -Federal income tax rate (frac) 0.0 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 -Federal tax benefit (liability) ($) 0 2,072,964 3,083,665 3,067,448 3,050,439 3,032,720 3,014,563 2,996,351 2,978,422 2,960,975 2,944,053 2,927,572 2,911,360 2,895,194 2,878,821 2,861,987 2,844,436 2,825,929 2,806,238 2,785,148 2,762,462 1,711,847 659,274 630,723 599,889 566,618 530,761 492,169 450,696 406,193 -20,165,047 +Federal income tax rate (frac) 0.0 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 +Federal tax benefit (liability) ($) 0 2,815,492 3,826,193 3,809,976 3,792,955 3,775,136 3,756,596 3,737,450 3,717,797 3,697,680 3,677,079 3,655,924 3,634,112 3,611,513 3,587,991 3,563,401 3,537,601 3,510,452 3,481,817 3,451,564 3,419,565 2,359,547 1,297,534 1,259,547 1,219,319 1,176,725 1,131,640 1,083,936 1,033,481 980,139 -19,599,356 CASH INCENTIVES Federal IBI income ($) 0 @@ -391,70 +391,70 @@ Utility CBI income ($) 0 Other CBI income ($) 0 Total CBI income ($) 0 -Federal PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -State PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Utility PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Other PBI income ($) 0 24,739,584 24,739,584 24,739,579 24,739,396 24,737,839 24,731,853 24,717,273 24,690,318 24,648,489 24,590,708 24,517,054 24,428,398 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Total PBI income ($) 0 24,739,584 24,739,584 24,739,579 24,739,396 24,737,839 24,731,853 24,717,273 24,690,318 24,648,489 24,590,708 24,517,054 24,428,398 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Federal PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Utility PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Other PBI income ($) 0 14,099,544 14,099,544 14,099,542 14,099,437 14,098,550 14,095,139 14,086,829 14,071,467 14,047,628 14,014,697 13,972,720 13,922,194 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Total PBI income ($) 0 14,099,544 14,099,544 14,099,542 14,099,437 14,098,550 14,095,139 14,086,829 14,071,467 14,047,628 14,014,697 13,972,720 13,922,194 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 TAX CREDITS -Federal PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -State PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Federal PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Federal ITC amount income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Federal ITC percent income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Federal ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Federal ITC amount income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Federal ITC percent income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Federal ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -State ITC amount income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -State ITC percent income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -State ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State ITC amount income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State ITC percent income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 DEBT REPAYMENT -Debt balance ($) 107,393,633 105,777,205 104,079,955 102,297,843 100,426,625 98,461,847 96,398,829 94,232,660 91,958,183 89,569,983 87,062,372 84,429,380 81,664,740 78,761,867 75,713,850 72,513,432 69,152,994 65,624,534 61,919,651 58,029,523 53,944,889 49,656,024 45,152,715 40,424,241 35,459,343 30,246,200 24,772,400 19,024,910 12,990,046 6,653,438 0 -Debt interest payment ($) 0 5,369,682 5,288,860 5,203,998 5,114,892 5,021,331 4,923,092 4,819,941 4,711,633 4,597,909 4,478,499 4,353,119 4,221,469 4,083,237 3,938,093 3,785,692 3,625,672 3,457,650 3,281,227 3,095,983 2,901,476 2,697,244 2,482,801 2,257,636 2,021,212 1,772,967 1,512,310 1,238,620 951,246 649,502 332,672 -Debt principal payment ($) 0 1,616,428 1,697,250 1,782,112 1,871,218 1,964,779 2,063,018 2,166,169 2,274,477 2,388,201 2,507,611 2,632,991 2,764,641 2,902,873 3,048,017 3,200,417 3,360,438 3,528,460 3,704,883 3,890,127 4,084,634 4,288,865 4,503,309 4,728,474 4,964,898 5,213,143 5,473,800 5,747,490 6,034,864 6,336,608 6,653,438 -Debt total payment ($) 0 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 +Debt balance ($) 107,393,633 105,777,205 104,079,955 102,297,843 100,426,625 98,461,847 96,398,829 94,232,660 91,958,183 89,569,983 87,062,372 84,429,380 81,664,740 78,761,867 75,713,850 72,513,432 69,152,994 65,624,534 61,919,651 58,029,523 53,944,889 49,656,024 45,152,715 40,424,241 35,459,343 30,246,200 24,772,400 19,024,910 12,990,046 6,653,438 0 +Debt interest payment ($) 0 5,369,682 5,288,860 5,203,998 5,114,892 5,021,331 4,923,092 4,819,941 4,711,633 4,597,909 4,478,499 4,353,119 4,221,469 4,083,237 3,938,093 3,785,692 3,625,672 3,457,650 3,281,227 3,095,983 2,901,476 2,697,244 2,482,801 2,257,636 2,021,212 1,772,967 1,512,310 1,238,620 951,246 649,502 332,672 +Debt principal payment ($) 0 1,616,428 1,697,250 1,782,112 1,871,218 1,964,779 2,063,018 2,166,169 2,274,477 2,388,201 2,507,611 2,632,991 2,764,641 2,902,873 3,048,017 3,200,417 3,360,438 3,528,460 3,704,883 3,890,127 4,084,634 4,288,865 4,503,309 4,728,474 4,964,898 5,213,143 5,473,800 5,747,490 6,034,864 6,336,608 6,653,438 +Debt total payment ($) 0 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 DSCR (DEBT FRACTION) -EBITDA ($) 0 -108,171 -108,171 -108,174 -108,272 -109,111 -112,337 -120,187 -134,676 -157,101 -187,960 -227,099 -273,916 -327,549 -387,019 -451,326 -519,510 -590,687 -664,066 -738,951 -814,744 -890,933 -967,087 -1,042,849 -1,117,922 -1,192,067 -1,265,089 -1,336,835 -1,407,185 -1,476,049 105,853,588 +EBITDA ($) 0 -3,993,718 -3,993,718 -3,993,719 -3,993,757 -3,994,074 -3,995,292 -3,998,257 -4,003,725 -4,012,177 -4,023,784 -4,038,468 -4,055,974 -4,075,952 -4,098,004 -4,121,729 -4,146,743 -4,172,697 -4,199,277 -4,226,212 -4,253,272 -4,280,259 -4,307,014 -4,333,402 -4,359,316 -4,384,674 -4,409,407 -4,433,467 -4,456,817 -4,479,432 102,893,406 minus: -Reserves major equipment 1 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves major equipment 2 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves major equipment 3 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves receivables funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 1 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 2 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 3 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves receivables funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 equals: -Cash available for debt service (CAFDS) ($) 0 -108,171 -108,171 -108,174 -108,272 -109,111 -112,337 -120,187 -134,676 -157,101 -187,960 -227,099 -273,916 -327,549 -387,019 -451,326 -519,510 -590,687 -664,066 -738,951 -814,744 -890,933 -967,087 -1,042,849 -1,117,922 -1,192,067 -1,265,089 -1,336,835 -1,407,185 -1,476,049 105,853,588 -Debt total payment ($) 0 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 -DSCR (pre-tax) 0.0 -0.02 -0.02 -0.02 -0.02 -0.02 -0.02 -0.02 -0.02 -0.02 -0.03 -0.03 -0.04 -0.05 -0.06 -0.06 -0.07 -0.08 -0.10 -0.11 -0.12 -0.13 -0.14 -0.15 -0.16 -0.17 -0.18 -0.19 -0.20 -0.21 15.15 +Cash available for debt service (CAFDS) ($) 0 -3,993,718 -3,993,718 -3,993,719 -3,993,757 -3,994,074 -3,995,292 -3,998,257 -4,003,725 -4,012,177 -4,023,784 -4,038,468 -4,055,974 -4,075,952 -4,098,004 -4,121,729 -4,146,743 -4,172,697 -4,199,277 -4,226,212 -4,253,272 -4,280,259 -4,307,014 -4,333,402 -4,359,316 -4,384,674 -4,409,407 -4,433,467 -4,456,817 -4,479,432 102,893,406 +Debt total payment ($) 0 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 6,986,110 +DSCR (pre-tax) 0.0 -0.57 -0.57 -0.57 -0.57 -0.57 -0.57 -0.57 -0.57 -0.57 -0.58 -0.58 -0.58 -0.58 -0.59 -0.59 -0.59 -0.60 -0.60 -0.60 -0.61 -0.61 -0.62 -0.62 -0.62 -0.63 -0.63 -0.63 -0.64 -0.64 14.73 RESERVES -Reserves working capital funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves working capital disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves working capital balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves working capital funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves working capital disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves working capital balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves debt service funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves debt service disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves debt service balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves debt service funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves debt service disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves debt service balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves receivables funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves receivables disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves receivables balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves receivables funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves receivables disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves receivables balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves major equipment 1 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves major equipment 1 disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves major equipment 1 balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 1 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 1 disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 1 balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves major equipment 2 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves major equipment 2 disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves major equipment 2 balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 2 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 2 disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 2 balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves major equipment 3 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves major equipment 3 disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves major equipment 3 balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 3 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 3 disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 3 balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves total reserves balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves total reserves balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Interest on reserves (%/year) 1.75 -Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- diff --git a/tests/examples/S-DAC-GT-2.txt b/tests/examples/S-DAC-GT-2.txt index 86b17b052..277e029d0 100644 --- a/tests/examples/S-DAC-GT-2.txt +++ b/tests/examples/S-DAC-GT-2.txt @@ -3,7 +3,6 @@ # Based on Example 3 description: This example problem considers an EGS reservoir at 3.1km depth. # The heat is used in a combined heat and power topping cycle model with double flash as # topping cycle and electricity considered as the main product. -# But only lists those parameters that are different than their default values Do S-DAC-GT Calculations, True