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# CREST Cost of Energy Models

Submitted by Editor on Sat, 04/09/2011 - 2:30pm The Cost of Renewable Energy Spreadsheet T ool (CREST) is an economic cash flow mode l designed to allow policymakers, regulators , and the renewable energy community to assess project economics, design cost-based incentives (e.g., feed-in tariffs), and evaluate the impact of various state and federal support structures. CREST is a suite of four analytic tools, for solar (photovoltaic and solar therma l), wind, geothermal, and anaerobic digestion technologies. The model is a product of a 2009-2010 partnership between the Nati onal Renewable Energy Laboratory (NREL), the U.S. Department of Energy (DOE) Solar Energy Techno logies Program (SETP), and the National Associat ion of Regulatory Utility Commissions (NARUC). The model was developed by Sustainable Energy Advantage (SEA) under the direction of NREL. 

## Download CREST Mac Users: We now have a Mac version of the CREST suite available for download. These models work be st with Microsof Excel 2011: Solar Wind Geothermal Anaerobic Digestion Fuel Cell Please contact us if you have any questions or concerns about these models. Windows Users: CREST Version 1.3 is the most current version. Please choose which model you would like to use by clicking on one of the following links: Solar Wind Geothermal Anaerobic digester Fuel Cell MS Excel 2003 users are advised to download Version 1.1 ( solar, wind , geothermal )
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## Intended Uses CREST models are designed for use by stat e policy makers, regulators, utilities, beginni ng developers or investors, and other s takeholders. The models allow users:

• To estimate the Year One cost of energy (COE) and levelized costof energy (LCOE) from a range of solar, wind and geothermal electricity generation projects, • To experiment with the process of se tting of cost-based incentive rates; • To observe the effects of different economic driver s on a given renewable ener gy project's COE and LCOE; • To comprehend the relative economics of generation projects with differing characteristics, such as project size, resource qua lity, location (e.g. near or far from transmissi on) or ownership (e.g. public or private.) 

## Supporting Documents and Information CREST User Manual This document offers a tutorial on how to use the CREST models , including example model runs, sa mple inputs, and troubleshootin g. The five technology versions of the CREST model share a common architecture, the features of which are described in the main body o f this User Manual. Features specific to the individual technologies are explai ned in the appendices. March 13th, 2013 Webinar on CREST AD Audio recording ( WMV file, 37.9 MB ) Webinar slides 

# Renewable Energy Project Finance 

# Page 1 of 2 CREST Cost of EnergyModels | Renewable Energy Project Financ e

6 /9 /201 4 htt p s://financere.nrel. g ov/finance/content/crest-cost-energy -modelsMarch 31st, 2011 Webinar Audio recording/ Slides ( WMV file, 35.4 MB ) Mike Mendelsohn Slides Jason Gifford Slides April 25th, 2011 Geothermal Specific Webinar Audio recording/ Slides ( WMV file, 37.9 MB ) Cost-based Incentives Report This report is intended to serv e as a resource for policymakers who wish to learn more about establishing cost-based incentives . The report will identify key renewable energy cost mode ling options, highlight the po licy implications of choosing one approach over the o ther, and present recommendations on the optimal characteristics of a mode l to calculate rates for cost-bas ed incentives, feed-in tariffs (FITs), or similar policies. 

## Distinctions between CREST and NR EL's Systems Advisor Model (SAM) SAM – a freestanding tool Audience and purpose: Analysts who want to do granular analysis of RE projects Analytical capabilities include:

1. Detailed performance calculations, (an hourly simulation for electric generation) 2. Detailed financial modeling (sale leaseba ck, partnership flip in May 2011 release), 3. Ability to model time of use utility rates, 4. Ability to conduct parametric an alysis and stochastic modeling. CREST – an Excel-based tool Audience and purpose: Anyone seeking a less technical analysis of incentives and other economic drivers on a renewable energy p roject's COE and LCOE. CREST may also be appealing to analysts wanting to do quick, back of the envelope LCOE estimates without engaging a detailed SAM run. As such, CREST can se rve as a complement to the SAM tool. If you have any comments on the CREST tools, please let us know by clicking here
. Many Thanks, NREL Project Finance Team

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# Page 2 of 2 CREST Cost of EnergyModels | Renewable Energy Project Financ e

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