HomeMy WebLinkAboutCostWorksheet_CI_ver1 0 (3)Application Cost Worksheet
Please note that some fields might not be applicable for all technologies or all project phases.
Level of information detail varies according to phase requirements.
1. Renewable Energy Source
The Applicant should demonstrate that the
renewable energy resource is available on a
sustainable basis.
Annual average resource availability. 17.1MW average extractable power(at 15%
of total resource from 2006 EPRI study) at
Cairn Point location alone, entire
developable project potential will be
estimated in feasibility study, but estimated
to be 100MW or more
Unit depends on project type (e.g.
windspeed, hydropower output, biomasss
fuel)
2. Existing Energy
Generation
a) Basic configuration (if
system is part of the Railbelt
grid, leave this section blank)
i. Number of
generators/boilers/other
ii. Rated capacity of
generators/boilers/other
iii. Generator/boilers/other
type
iv. Age of
generators/boilers/other
v. Efficiency of
generators/boilers/other
b) Annual O&M cost (if
system is part of the Railbelt
grid, leave this section blank)
i. Annual O&M cost for
labor
ii. Annual O&M cost for
non-labor
c) Annual electricity
production and fuel usage (fill
in as applicable) (if system is
part of the Railbelt grid, leave
this section blank)
i. Electricity [kWh]
ii. Fuel usage
Diesel [gal]
Other
iii. Peak Load
iv. Average Load
v. Minimum Load
vi. Efficiency
vii. Future trends
d) Annual heating fuel
usage (fill in as applicable)
i. Diesel [gal or MMBtu]
ii. Electricity [kWh]
iii. Propane [gal or MMBtu]
iv. Coal [tons or MMBtu]
v. Wood [cords, green
tons, dry tons]
vi. Other
3. Proposed System Design
a) Installed capacity 1MW
b) Annual renewable electricity generation
i. Diesel [gal or MMBtu]
ii. Electricity [kWh] 2.628 GWh
iii. Propane [gal or MMBtu]
iv. Coal [tons or MMBtu]
v. Wood [cords, green tons, dry tons]
vi. Other
4. Project Cost
a) Total capital cost of new system $2,838,563
b) Development cost $5,019,614
c) Annual O&M cost of new system $78,840 (Estimated from ORPC analysis at
$0.03/kWh produced)
d) Annual fuel cost $0
5. Project Benefits
a) Amount of fuel displaced for
i. Electricity 2628 MWH
ii. Heat
iii. Transportation
b) Price of displaced fuel $ 283,824 annually (at projected avoided
cost for Chugach Electric in 2011 of $0.108)
c) Other economic benefits $26,280 1% Federal Production Tax Credit
d) Amount of Alaska public benefits $2,788,774 (includes contracts to Alaskan
businesses, and direct employment of
Alaskans by ORPC-Alaska LLC.
6. Power Purchase/Sales Price
a) Price for power purchase/sale $0.108/kWh (avoided cost Chugach Electric
2011)
7. Project Analysis
a) Basic Economic Analysis
Project benefit/cost ratio Benefit/Cost Ratio = 1.26
The Total Benefit included the Alaskan public
Benefit amount from 5d.above ($2,788774) as
well as the labor portion of the O&M which will
be contracted to Alaskan marine service
companies comprising 80% of the O&M budget
or $63,072 annually = $1,261,440 over 20 year
life of the project, and the revenue of the project
which was calculated as the annual revenue
from power sales at avoided cost ($283,824)
plus the Production Tax Credit ($26,280) minus
the parts and supplies portion of annual O&M
($15768). This came to $294,336 annually or
$5,886,720 over the 20 year life of the project.
Benefit = $2,788,774+$1,261,440+$5,886,720 =
$9,936,934
Benefit/Cost Ratio = $9,936934/$7,858,177
Payback Payback = 14.1 years
The payback period was calculated by taking the
total project cost($7,858,177), reduced by the
public benefits to Alaska from 5d. above
($2,788,774) Project Cost = $5,069,403
This was divided by the annual revenue which
was calculated as the revenue from power sales
at projected avoided cost ($283,824) plus the
Production Tax Credit ($26,280) plus the O&M
contracts to Alaskan companies (80% of annual
O&M = $63,072) minus the parts and supplies of
the O&M budget (20% of O&M = $15,768)
giving Annual Revenue = $357,408.
Payback = $5,069,403/$357,408/yr. = 14.1 yrs
The Railbelt grid connects all customers of Chugach Electric Association, Homer Electric Association, Golden Valley
Electric Association, the City of Seward Electric Department, Matanuska Electric Association and Anchorage Municipal
Light and Power.
Renewable Energy Fund
RFA AEA 09-004 Application Cost Worksheet revised 9/26/08 Page PAGE \* MERGEFORMAT 1