The HST application is capable of exporting a spreadsheet of financial cash flows for the full lifespan of the project. The following parameters are calculated for each year within the financial model:
Financial Parameter | Calculation |
Revenue | Energy Production x Energy Tariff Rate (including PPA, Escalation, TOD and PBI) |
Total Operating Expenses | O&M Expense + Insurance + Annual Lease (if Leased Land) or Property Tax (if Purchased Land) |
Project EBITDA | Revenue + Total Operating Expenses |
Federal Taxable Income | Project EBITDA + Federal Depreciation Expense + Loan Interest Expense |
State Taxable Income | Project EBITDA + State Depreciation Expense + Loan Interest Expense |
EBITDA After Loan Interest Expense | Project EBITDA + Loan Interest Expense |
Equity Investment | Total Construction Cost x Loan Fraction Percentage |
Pre-Tax Cash Flow to Equity | Project EBITDA + Loan Interest Expense + Repayment of Loan Principle + Federal Investment Tax Credit + State Investment Tax Credit |
After-Tax Cash Flow to Equity | Pre-Tax Cash-Flow to Equity + Federal Taxes Paid + State Taxes Paid |
Pre-Tax IRR | See IRR Equation on Project Financial Equations page. Pre-Tax Cash Flows are used. |
After-Tax IRR | See IRR Equation on Project Financial Equations page. After-Tax Cash Flows are used. |
After-Tax NPV | See NPV Equation on Project Financial Equations page. |
Real LCOE | See LCOE Equation on Project Financial Equations page. Real Discount Rate used. |
Nominal LCOE | See LCOE Equation on Project Financial Equations page. Nominal Discount Rate used. |