NY_Community_Solar_Model.xlsx

	A	B	C
1	Hudson Valley Community Solar I - Project Assumptions
2	Source: NREL Q1 2024 commercial PV benchmark; NYSERDA VDER documentation
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4	PROJECT
5	Nameplate capacity	5000	kWdc
6	Construction period	9	months
7	Operating life	25	years
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9	CAPEX
10	Cost per Wdc	1.55	$/Wdc
11	Total capex	7,750,000	$
12	Module	22.6%
13	Inverter	3.9%
14	BOS	23.9%
15	Labor	23.2%
16	Soft costs	26.4%
17	Check	100.0%
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19	OPERATIONS
20	Capacity factor	0.15
21	Year 1 production	6,570,000.0	kWh
22	Year 1 production	6,570.0	MWh
23	Annual degradation	0.005
24	O&M per kW-yr	25	$/kW-yr
25	Year 1 O&M	125,000	$
26	O&M escalation	0.02
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28	REVENUE
29	Blended VDER price	125	$/MWh
30	Year 1 revenue	821,250	$
31	Revenue esclatation	0
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33	FINANCING
34	ITC rate	0.3
35	ITC cash at COD	2,325,000	$
36	Interest rate	7.0%
37	Term loan tenor	17	Years
38	Min DSCR target	1.30
39
40	RETURN TARGETS (sanity checks)
41	Project IRR target	8-10%
42	Equity IRR target	12-18%
43	Min DSCR target	≥1.30x
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