Spreadsheet: 07a49de1-f3e0-41dd-bb40-728dcc2b737a
Sheet: Inputs

 |  | Performance, Cost, Operating, Tax & Financing Inputs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Lookup for State Average Capacity Factor
 |  | Check |  |  |  |  |  | Notes |  |  |  | Check |  | Technology Options |  |  |  | Notes |  |  |  |  |  |  |  |  |  |  | State List | DC Capacity factor
 |  |  |  | Selected Technology |  | Photovoltaic |  | ? |  |  |  |  |  | Photovoltaic | Solar Thermal Electric |  |  |  |  |  |  |  |  |  |  |  |  |  | AL | 0.1854375
 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | AZ | 0.2385375
 |  |  |  | Project Size and Performance | Units | Input Value |  |  |  |  |  |  |  | Cost-Based Tariff Rate Structure | Units | Input Value |  |  |  |  |  |  |  |  |  |  |  |  | AR | 0.18315
 |  |  |  | Generator Nameplate Capacity |  | 2000 |  | ? |  |  |  |  |  | Payment Duration for Cost-Based Tariff | years | 25 |  | ? |  |  |  |  |  |  |  |  |  |  | CA | 0.2214375
 |  |  |  | Net Capacity Factor: Select "State Average" or "Custom" → |  | State Average |  | ? |  |  |  |  |  | % of Year-One Tariff Rate Escalated | % | 0 |  | ? |  |  |  |  |  |  |  |  |  |  | CO | 0.2143875
 |  |  |  | Net C.F.: If "State Average" method, then select state → |  | CO |  | ? |  |  |  |  |  | Cost-Based Tariff Escalation Rate | % | 0 |  | ? |  |  |  |  |  |  |  |  |  |  | CT | 0.1649625
 |  |  |  | Net C.F.: If "Custom" method, then enter Net C.F. → |  | 0.15 |  | ? |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | DE | 0.17535
 |  |  |  | Net Capacity Factor, Yr 1 |  |  |  | ? |  |  |  |  |  | Forecasted Market Value of Production; applies after Incentive Expiration |  |  |  | ? |  |  |  |  |  |  |  |  |  |  | DC | 0.175725
 |  |  |  | Production, Yr 1 | kWh |  |  | ? |  |  |  |  |  | Select Market Value Forecast Methodology |  | Year One |  | ? |  |  |  |  |  |  |  |  |  |  | FL | 0.1959375
 |  |  |  | Annual Production Degradation | % | 0.005 |  | ? |  |  |  |  |  | Value of energy, capacity & RECs, Yr 1 | ¢/kWh | 5 |  | ? |  |  |  |  |  |  |  |  |  |  | GA | 0.18855
 |  |  |  | Project Useful Life | years | 25 |  | ? |  |  |  |  |  | Market Value Escalation Rate | % | 0.03 |  | ? |  |  |  |  |  |  |  |  |  |  | ID | 0.1877625
 |  |  |  |  |  |  |  |  |  |  |  |  |  | 'Complex Inputs'!A126 |  |  |  | ? |  |  |  |  |  |  |  |  |  |  | IL | 0.17205
 |  |  |  | Capital Costs | Units | Input Value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | IN | 0.166875
 |  |  |  | Select Cost Level of Detail |  | Simple |  | ? |  |  |  |  |  | Federal Incentives | Units | Input Value |  |  |  |  |  |  |  |  |  |  |  |  | IA | 0.1716
 |  |  |  | Total Installed Cost |  | 3.6 |  | ? |  |  |  |  |  | Select Form of Federal Incentive |  | Cost-Based |  | ? |  |  |  |  |  |  |  |  |  |  | KS | 0.1984125
 |  |  |  | Generation Equipment | $ | 3500000 |  | ? |  |  |  |  |  | Investment Tax Credit (ITC) or [NAME]? |  | Cash Grant |  | ? |  |  |  |  |  |  |  |  |  |  | KY | 0.1717125
 |  |  |  | Balance of Plant | $ | 2000000 |  | ? |  |  |  |  |  | ITC or Cash [NAME] | % | 0.3 |  | ? |  |  |  |  |  |  |  |  |  |  | LA | 0.18645
 |  |  |  | Interconnection | $ | 500000 |  | ? |  |  |  |  |  | ITC or Cash Grant | $ |  |  | ? |  |  |  |  |  |  |  |  |  |  | ME | 0.159225
 |  |  |  | Development Costs & Fee | $ | 1000000 |  | ? |  |  |  |  |  | Is PBI Tax-Based (PTC) or Cash-Based (REPI)? |  | Tax Credit |  | ? |  |  |  |  |  |  |  |  |  |  | MD | 0.1736625
 |  |  |  | Reserves & Financing Costs | $ |  |  | ? |  |  |  |  |  | PBI Rate | ¢/kWh | 2.3 |  | ? |  |  |  |  |  |  |  |  |  |  | MA | 0.16305
 |  |  |  | Click Here for Complex Input Worksheet |  |  |  | ? |  |  |  |  |  | PBI Duration | yrs | 10 |  | ? |  |  |  |  |  |  |  |  |  |  | MI | 0.1570875
 |  |  |  | Total Installed Cost (before rebates/grants, if any) | $ |  |  | ? |  |  |  |  |  | PBI Escalation Rate | % | 0.02 |  | ? |  |  |  |  |  |  |  |  |  |  | MN | 0.16335
 |  |  |  | Total Installed Cost (before rebates/grants, if any) |  |  |  | ? |  |  |  |  |  | Additional Federal Grants (Other than Section 1603) | $ | 0 |  | ? |  |  |  |  |  |  |  |  |  |  | MS | 0.1854375
 |  |  |  |  |  |  |  |  |  |  |  |  |  | Federal Grants Treated as Taxable Income? |  | Yes |  | ? |  |  |  |  |  |  |  |  |  |  | MO | 0.1801125
 |  |  |  | Operations & Maintenance | Units | Input Value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | MT | 0.1809
 |  |  |  | Select Cost Level of Detail |  | Simple |  | ? |  |  |  |  |  | State Rebates, Tax Credits and/or REC Revenue | Units | Input Value |  |  |  |  |  |  |  |  |  |  |  |  | NE | 0.1938
 |  |  |  | Fixed O&M Expense, Yr 1 |  | 24 |  | ? |  |  |  |  |  | Select Form of State Incentive |  | Neither |  | ? |  |  |  |  |  |  |  |  |  |  | NV | 0.22275
 |  |  |  | Variable O&M Expense, Yr 1 | ¢/kWh | 0 |  | ? |  |  |  |  |  | ITC Amount | % | 0.3 |  | ? |  |  |  |  |  |  |  |  |  |  | NH | 0.1602375
 |  |  |  | O&M Cost Inflation, initial period | % | 0.02 |  | ? |  |  |  |  |  | State ITC realization period | yrs | 5 |  | ? |  |  |  |  |  |  |  |  |  |  | NJ | 0.1703625
 |  |  |  | Initial Period ends last day of: | year | 10 |  | ? |  |  |  |  |  | Total State ITC, over realization period | $ |  |  | ? |  |  |  |  |  |  |  |  |  |  | NM | 0.2344875
 |  |  |  | O&M Cost Inflation, thereafter | % | 0.02 |  | ? |  |  |  |  |  | Is Performance-Based Incentive Tax Credit or Cash Pmt? |  | Cash |  | ? |  |  |  |  |  |  |  |  |  |  | NY | 0.1565625
 |  |  |  | Insurance, Yr 1 (% of Total Cost) | % | 0.004 |  | ? |  |  |  |  |  | Annual $ [NAME] on Performance-Based Incentive | $ | 0 |  | ? |  |  |  |  |  |  |  |  |  |  | NC | 0.18285
 |  |  |  | Insurance, Yr 1 ($) (Provided for reference) | $ |  |  | ? |  |  |  |  |  | If cash, is state PBI or REC taxable? |  | Yes |  | ? |  |  |  |  |  |  |  |  |  |  | ND | 0.16995
 |  |  |  | Project Management Yr 1 | $/yr | 0 |  | ? |  |  |  |  |  | PBI or REC Rate | ¢/kWh | 1.5 |  | ? |  |  |  |  |  |  |  |  |  |  | OH | 0.1614375
 |  |  |  | Property Tax or PILOT, Yr 1 | $/yr | 50000 |  | ? |  |  |  |  |  | PBI or REC Payment Duration | yrs | 10 |  | ? |  |  |  |  |  |  |  |  |  |  | OK | 0.19665
 |  |  |  | Annual Property Tax Adjustment Factor | % | -0.1 |  | ? |  |  |  |  |  | PBI or REC Escalation Rate (pos. or [NAME].) | % | 0.02 |  | ? |  |  |  |  |  |  |  |  |  |  | OR | 0.1845375
 |  |  |  | Land Lease | $/yr | 5000 |  | ? |  |  |  |  |  | Additional State Rebates/Grants | $/Watt | 0 |  | ? |  |  |  |  |  |  |  |  |  |  | PA | 0.159075
 |  |  |  | Royalties (% of revenue) | % | 0.03 |  | ? |  |  |  |  |  | Total $ [NAME] on State Rebates/Grants | $ | 500000 |  | ? |  |  |  |  |  |  |  |  |  |  | RI | 0.1654125
 |  |  |  | Royalties, Yr 1 ($) (Provided for reference) | $ |  |  | ? |  |  |  |  |  | State Rebates/Grants Treated as Taxable Income? |  | Yes |  | ? |  |  |  |  |  |  |  |  |  |  | SC | 0.1884375
 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | SD | 0.184125
 |  |  |  | Construction Financing | Units | Input Value |  |  |  |  |  |  |  | Capital Expenditures During Operations: Inverter Replacement |  | Input Value |  |  |  |  |  |  |  |  |  |  |  |  | TN | 0.1765125
 |  |  |  | Construction Period | months | 6 |  | ? |  |  |  |  |  | 1st Equipment Replacement | year | 10 |  | ? |  |  |  |  |  |  |  |  |  |  | TX | 0.20475
 |  |  |  | Interest Rate (Annual) | % | 0.055 |  | ? |  |  |  |  |  | 1st Replacement Cost  ($ in year replaced) |  | 0.235 |  | ? |  |  |  |  |  |  |  |  |  |  | UT | 0.2154375
 |  |  |  | Interest During Construction | $ |  |  | ? |  |  |  |  |  | 2nd Equipment Replacement | year | 20 |  | ? |  |  |  |  |  |  |  |  |  |  | VT | 0.1563
 |  |  |  |  |  |  |  |  |  |  |  |  |  | 2nd Replacement Cost ($ in year replaced) |  | 0.235 |  | ? |  |  |  |  |  |  |  |  |  |  | VA | 0.17715
 |  |  |  | Permanent Financing | Units | Input Value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | WA | 0.1642125
 |  |  |  | % Debt (% of hard costs) (mortgage-style amort.) | % | 0.5 |  | ? |  |  |  |  |  | Reserves Funded from Operations | Units | Input Value |  |  |  |  |  |  |  |  |  |  |  |  | WV | 0.1633125
 |  |  |  | [NAME] | years | 18 |  | ? |  |  |  |  |  | Decommissioning Reserve |  |  |  |  |  |  |  |  |  |  |  |  |  |  | WI | 0.1626
 |  |  |  | Interest Rate on Term Debt | % | 0.065 |  | ? |  |  |  |  |  | Fund from Operations or Salvage Value? |  | Operations |  | ? |  |  |  |  |  |  |  |  |  |  | WY | 0.1998
 |  |  |  | Lender's Fee (% of total borrowing) | % | 0.03 |  | ? |  |  |  |  |  | Reserve Requirement | $ | 0 |  | ?
 |  |  |  | Required Minimum Annual DSCR |  | 1.2 |  | ?
 |  |  |  | Actual Minimum DSCR, occurs in → |  |  |  | ? |  |  |  |  |  | Initial Funding of Reserve Accounts | Units | Input Value
 |  |  |  | Minimum DSCR Check Cell (If "Fail," read note ==>) | Pass/Fail |  |  | ? |  |  |  |  |  | Debt Service Reserve
 |  |  |  | Required Average DSCR |  | 1.45 |  | ? |  |  |  |  |  | # of months of Debt Service | months | 6 |  | ?
 |  |  |  | Actual Average DSCR |  |  |  | ? |  |  |  |  |  | Initial Debt Service Reserve | $ |  |  | ?
 |  |  |  | Average DSCR Check Cell (If "Fail," read note ==>) | Pass/Fail |  |  | ? |  |  |  |  |  | O&M Reserve/Working Capital
 |  |  |  | % Equity (% hard costs) (soft costs also equity funded) | % |  |  | ? |  |  |  |  |  | # of months of O&M Expense | months | 6 |  | ?
 |  |  |  | Target After-Tax Equity IRR | % | 0.12 |  | ? |  |  |  |  |  | Initial O&M and WC Reserve | $ |  |  | ?
 |  |  |  | Weighted Average Cost of Capital (WACC) | % |  |  | ? |  |  |  |  |  | Interest on All Reserves | % | 0.02 |  | ?
 |  |  |  | Other Closing Costs | $ | 0 |  | ?
 |  |  |  |  |  |  |  |  |  |  |  |  |  | Depreciation Allocation | Input Values
 |  |  |  | Summary of Sources of Funding for Total Installed Cost |  |  |  |  |  |  |  |  |  | Bonus Depreciation | Yes |  |  | ?
 |  |  |  | Senior Debt (funds portion of hard costs) |  |  |  | ? |  |  |  |  |  | % of Bonus Depreciation applied in Year 1 | 0.5 |  |  | ?
 |  |  |  | Equity (funds balance of hard costs + all soft costs) |  |  |  | ? |  |  |  |  |  | Allocation of Costs | 5-year MACRS | 7-year MACRS | 15-year MACRS |  |  | 20-year MACRS | 5-year SL | 15-year SL | 20-year SL | 39-year SL | Non-Depreciable
 |  |  |  | Total Value of Grants (excl. pmt in lieu of ITC, if applicable) |  |  |  | ? |  |  |  |  |  |  | 0.94 | 0 | 0.015 |  |  | 0.01 | 0 | 0 | 0.01 | 0 | 0.025 |  | ?
 |  |  |  | Total Installed Cost | $ |  |  | ? |  |  |  |  |  |  | 0.96 | 0 | 0.02 |  |  | 0 | 0 | 0 | 0.02 | 0 | 0 |  | ?
 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0.5 | 0 | 0 |  |  | 0 | 0 | 0.5 | 0 | 0 | 0 |  | ?
 |  |  |  | Tax | Units | Input Value |  |  |  |  |  |  |  |  | 0 | 0 | 1 |  |  | 0 | 0 | 0 | 0 | 0 | 0 |  | ?
 |  |  |  | Is owner a taxable entity? |  | Yes |  | ? |  |  |  |  |  |  | 0.8 | 0 | 0 |  |  | 0 | 0 | 0.05 | 0.05 | 0 | 0.1 |  | ?
 |  |  |  | Federal Income Tax Rate | % | 0.35 |  | ? |  |  |  |  |  |  | 0 | 0 | 0 |  |  | 0 | 0 | 0 | 0.5 | 0 | 0.5 |  | ?
 |  |  |  | Federal Tax Benefits used as generated or carried forward? |  | As Generated |  | ? |  |  |  |  |  | Click Here for [NAME] |  |  |  |  |  |  |  |  |  |  |  |  | ?
 |  |  |  | State Income Tax Rate | % | 0.085 |  | ?
 |  |  |  | State Tax Benefits used as generated or carried forward? |  | As Generated |  | ?
 |  |  |  | Effective Income Tax Rate | % |  |  | ?
 |  |  |  | Depreciation Allocation |  | see table ==> |  | ?
 |  |  |  | Unit Definitions
 |  |  |  | (kW) kilowatt – a standard measure of electrical capacity, equal to 1000 Watts.
 |  |  |  | (kWh) kilowatt hour – a standard measure of electrical output. A 1 kW generator operating at rated capacity for one hour will produce 1 kWh of electricity.
 |  |  |  | (DC) direct current – the unidirectional flow of electric charge
 |  |  |  | (AC) alternating current – the multidirectional flow of electric charge
 |  |  |  | ($/kW-yr) – an annual expense (or revenue) based on generator capacity
 |  |  |  | ($) – All CREST model values are in nominal dollars
 |  |  |  | (¢/kWh) –cents per kilowatt hour
 |  |  |  | (%) – an input with units expressed as a percentage
 |  |  |  | (years or year) – an input applicable to a specified duration or project year
 |  |  |  | ($/yr) – inputs measured in dollars and applied annually
 |  |  |  | (months) –designates the number of months to which an input applies
 |  |  |  | Pass/Fail – denotes whether the two debt service coverage ratio tests have passed or failed.
 |  |  |  |  |  |  |  |  |  |  |  |  |  | ITC utilization factor, if applicable | % | 1
 |  |  |  |  |  |  |  |  |  |  |  |  |  | PBI Utilization or Availability Factor, if applicable | % | 1
 |  |  |  |  |  |  |  |  |  |  |  |  |  | Utilization Factor, if applicable | % | 1
 |  |  |  |  |  |  |  |  |  |  |  |  |  | PBI Utilization Factor, if applicable | % | 1