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[null,null,null,null,"Solar Screening Tool"]
[null,null,null,null,"Version 1.5, Updated October 2020"]
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["Instructions"]
["This tool can be used to complete a preliminary assessment of solar financial viability for a New York City affordable housing property. This tool was developed by the New York City Department of Housing Preservation and Development (HPD), with support from non-profit Solar One, as part of the agency's efforts to increase the deployment of solar electric systems on affordable housing properties participating in HPD programs. Completing preliminary solar screening is a requirement for all projects covered by the Enterprise Green Communities NYC 2020 Overlay."]
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["1. User Inputs: populate all blue fields on the User Inputs tab. Please confirm that all fields are populated accurately, as these inputs impact the solar project financial model. If you do not understand what value to enter into a required field, hover over the field to view a pop-up with explantory text and links."]
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["2. Advanced Inputs (Optional): if you have specific information regarding the project, such as a detailed solar design with a specific price, system size and estimated energy production, you can enter this information in the Advanced Inputs tab. All fields on the Advanced Inputs tab are optional, and values provided in the Advanced Inputs tab will override the calculator's default assumptions."]
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["3. Solar Layout: include an image of the Sustainable Roofing Zone or the solar panel layout on this tab, and provide a brief (1-2 sentence) description in the blue text area at the bottom of the page. If project has a roof plan showing detailed solar array, please note this on the Layout Page."]
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["4. Solar Summary: review this tab, which is read-only, for a summary of financial benefits of solar at the site, calculated based on user inputs. Results include key financial metrics such as the Upfront Cost Estimate, Year One Utility Savings, and Payback Period."]
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["5. 25 Year Cashflow: to view a 25 year cash flow analysis of the solar energy system, click \"VIEW 25 YEAR CASH FLOW\" on the Solar Summary Tab. This will display another page which includes a breakdown of costs and benefits by year over a 25 year analysis period."]
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["6. Submission: once you have completed the HPD Solar Screening Tool for your property, email it to GreenCommunities@hpd.nyc.gov along with a fully populated HPD Solar Approval Form."]
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["Questions: if you have questions or feedback regarding this tool, feel free to contact Solar One:"]
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[null,null,null,"Website:","https://herecomessolar.nyc/contact/"]
[null,null,null,"Email:","herecomessolar@solar1.org"]
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[null,null,null,null,"Solar Screening Tool"]
[null,null,null,null,{"$f":"E3","v":"Version 1.5, Updated October 2020"}]
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["Assumptions"]
["The following pages outline assumptions included in the Solar Screening Tool. Disclaimer: Solar One is providing this preliminary analysis tool on an as-is basis and makes no claims regarding the accuracy of calculations, assumptions and figures provided herein. Solar technical feasibility, installation costs, incentives, energy generation, and electricity bill savings may vary."]
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["Solar Energy System Costs"]
["Unless a user provides the total cost of the solar energy system via Advanced Inputs, the cost is estimated based on User Inputs. Key cost drivers that are accounted for in the tool include system size (in kilowatts-DC), mounting method, building height, and the complexity of permitting and metering. "]
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["First, a base price is estimated based on system size:"]
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["The default base prices in this tool are informed by the publicly available NYSERDA solar project dataset which includes system size and pricing for all solar projects that received incentives from NYSERDA."]
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["Historically, the turnkey cost of solar energy systems has declined by ~4% per year. This tool assumes that solar pricing will continue this trend, and the base price is modified to account for the user-defined Project Completion Year:"]
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["Next, pricing adders are applied based on the project's complexity:"]
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["The Mechanically Attached Adder is applied for system < 15 kW-DC or more than 100 feet tall."]
["The Canopy Adder is applied if \"Solar Canopy Design\" = \"Yes\"."]
["The Tall Building Adders are applied on top of any other pricing adders based on the building height."]
["The Landmarks Adder is applied if \"Landmarks or Historic District\" = \"Yes\"."]
["The New Meter Adder is applied if the value of solar will be significantly higher with a solar export meter."]
["A Prevailing Wage Adder of 20% is applied to all projects where Prevailing Wages are required."]
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["Solar Energy System Size"]
["Unless a user specifies the solar energy system size using Advanced Inputs, the system size is estimated based on User Inputs. Key inputs that impact estimated system size include: Est. Usable Roof Area for Solar (sq ft), Solar Canopy Design (which impacts the assumed power density), and Est. Annual Owner-Paid Electricity Costs. "]
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["First, the maximum possible system size is estimated based on Est. Usable Roof Area for Solar (sq ft) and assumed power density (Watts-DC/square foot). "]
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[null,"Standard Power Density: 12 Watts-DC/sq ft"]
[null,"Canopy Power Density: 14 Watts-DC/sq ft"]
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["Next, the system size is used to estimate annual solar energy generation and utility bill savings. If the system is oversized relative to the Owner-Paid Electricity Cost, the system size is reduced to offset no more than 100% of the owner-paid electricity bills."]
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["Solar Energy Production"]
["Unless a user specifies Year One Production (kWh) using Advanced Inputs, the estimated year one solar production is estimated by multiplying the system size (kW-DC) by a production factor of 1,092.5 kWh/kW-DC. This is a conservative production factor for systems in NYC. Please note that actual solar production varies based on several factors, including solar panel tilt, orientation, shade, inverter efficiency, and normal weather variability. This tool assumes that solar energy production degrades by 0.5% each year to account for normal/expected solar panel performance degradation."]
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["Utility Bill Savings"]
["Unless a user enters override values for the Value of Solar ($/kWh) fields using Advanced Inputs, utility bill savings are estimated based on the Owner-Paid Electricity Information fields on the User Inputs tab as well as the Year One Production (kWh) estimate. The logic used to estimate electricity bill savings based on Owner-Paid Electricity Information is fairly sophisticated:"]
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["Electric Tariff: assuming the utility is Con Edison and the user does not specify the electric tariff with Advanced Inputs, user inputs are evaluated to estimate the owner-paid electric tariff/rate class:"]
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["Con Edison Tariff",null,"Description"]
["EL9",null,"Large Commercial (typical electricity tariff for elevator building common areas with individually metered apartments)"]
["EL2",null,"Small Commercial (typical electricity tariff for walk up building common areas with individually metered apartments)"]
["EL8",null,"Master Metered Residential Rate"]
["EL1",null,"Residential and Religious Rate (most common for individual apartments or houses of worship)"]
["EL12",null,"Master Metered Residential Rate w/Electric Resistance Heating"]
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["Annual Usage (kWh): unless the user enters Annual Electricity Usage (kWh) using Advanced Inputs, this value is estimated based on the Owner-Paid Electricity Cost ($) and the Electric Tariff:"]
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["If the electric tariff is EL8, EL9 or EL12, the total owner paid electricity bill is divided by a simple blended electricity rate of $0.20/kWh to estimate annual usage. If the electric tariff is EL1 or EL2, the total owner paid electricity bill is divided by a simple blended electricity rate of $0.24/kWh to estimate annual usage."]
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["Peak Demand (kW): unless a user enters Peak Demand (kW) using Advanced Inputs, this value is estimated based on Annual Usage and assuming a load ratio of 50%. While solar does not typically reduce demand charges, Peak Demand is an important input to estimate the Year One Value of Solar ($/kWh) for multifamily EL9 electricity customers."]
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["Year One Value of Solar ($/kWh): estimating the value of solar in New York State is complex. There are currently two distinct regimes for valuing solar energy; net energy metering, where solar energy directly offsets the volumetric portion of an owner-paid electricity bill or alternatively the Value of Distributed Energy Resources (VDER) tariff, a monetary crediting methodology that accounts for the location-specific benefits of distributed energy resources. VDER was adopted by New York State for large commercial customers and optionally for all customers over the last few years, and in many cases it can allow for greater utility bill savings than net metering. Unless the user enters a Year One Value of Solar using the Advanced Inputs, this value is estimated based on the Electric Tariff, Peak Demand, and corresponding metering recommendation to maximize the value of solar energy. Please note: for the small subset of NYC buildings in PSEG-LI territory, we recommend entering the Year One Value of Solar ($/kWh) using Advanced Inputs."]
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["Net Energy Metering"]
["For electricity consumed behind the owner's existing utility meter, this tool assumes that the year one value of solar is $0.11/kWh for demand-metered electric tariffs (EL8, EL9, EL12) and $0.22/kWh for non-demand-metered tariffs (EL1 and EL2). Net metering is generally recommended for EL1 and EL2 accounts as well as very large EL9 accounts, although there are exceptions and we recommend that building owners consult with a solar expert regarding their solar credit distribution strategy to maximize savings. "]
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["Customer Benefit Contribution: starting in 2021, solar projects that are not compensated under Community Distributed Generation (CDG) will be subject to monthly utility fees. For a project that is compensated under Net Energy Metering, the fee is estimated to be $1.09/kW-DC/month. For a project that is compensated under VDER, the fee is estimated to be $1.09/kW-DC/month * 70%."]
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["Value of Distributed Energy Resources (VDER)"]
["For electricity that is exported to the Con Edison grid and compensated under VDER, either through a new or existing meter, the solar energy is valued based on a number of user inputs and assumptions. The New York State Energy Research and Development Authority (NYSERDA) publishes and maintains a VDER Calculator, a spreadsheet-based tool that is used to accurately estimate the value of solar energy. This tool was referenced during the creation of the HPD Solar Screening Tool, and it can be accessed here:"]
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["https://www.nyserda.ny.gov/All-Programs/Programs/NY-Sun/Contractors/Value-of-Distributed-Energy-Resources/Solar-Value-Stack-Calculator"]
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[null,"Commercial System Relief Program (CSRP) Zone"]
[null,"Con Edison's Commercial System Relief Program (CSRP) zones impact the value a building will receive for solar energy under VDER, with a higher value given to solar projects in day-peaking load zones, where the solar energy offsets demand for electricity during peak times. Unless a user specifies their CSRP Load Zone using Advanced Inputs, this tool makes the conservative assumption that all proposed solar projects are located in a 7:00 PM-11:00 PM CSRP zone, which will result in a lower estimated value of solar energy."]
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[null,"Community Credit"]
[null,"Under VDER, community shared solar projects in Con Edison territory are eligible to receive a credit of $0.12/kWh on top of the base \"value stack\" value of solar. The Community Credit effectively doubles the value of solar energy for demand metered electric customers, and it is available for solar projects on residential buildings for all rate classes with the exception of EL9 large commercial customers that have a Peak Demand greater than 25 kilowatts. If a building receives service under the EL8, EL12, or EL9 rate class (and has a Peak Demand below 25 kW), the tool assumes that the solar project will include a new Con Edison meter so the building can benefit from the Community Credit and receive greater utility bill savings. If a new meter is required, this increases the upfront cost of the system by $1,500 and the financial analysis includes the fees associated with the new Con Edison meter ($27/month) in addition to the greater value of solar. "]
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["The table below summarizes the estimated Year One Value of Solar for projects compensated under VDER and which receive the Community Credit. Values were calculated using the NYSERDA VDER calculator. This tool assumes that all projects are located in the lowest value CSRP Zone unless otherwise indicated using the Advanced Inputs."]
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["Value of Solar Annual Escalation (%): unless a user specifies this value using Advanced Inputs, the assumed annual increase in the value of solar is 1.0% for projects receiving compensation under VDER and 2.5% for projects receiving compensation under net energy metering."]
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["New Meter Fees: solar projects compensated under the Community Distributed Generation program require new Con Edison meters. The monthly meter fee is estimated to be $27/month."]
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["Solar Incentives"]
["Solar energy systems are eligible for a number of federal, state and local incentives that improve the return on investment for solar energy systems. This tool incorporates the following incentives:"]
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[null,"Federal Tax Credit: solar projects installed in the United States are eligible for a federal income tax credit. The tax credit is current available for commercial businesses (as the Investment Tax Credit or ITC) or for owner-occupied homes, including co-ops and condos (as the Residential Energy Tax Credit or RETC). The table below summarizes the level of the tax credit by year. This tool estimates the value of the federal tax credit based on the User Input Project Completion Year, and assumes that the basis for the tax credit is the cost of the system after deducting the NY-SUN incentive. If a user indicates that they do not pay income taxes on the User Inputs tab, the value of this incentive is zero dollars. "]
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[null,"NY-SUN Incentive: NYSERDA offers a capacity-based incentive for solar projects in New York. For projects in Con Edison territory, there is a base incentive plus an affordable housing adder. This tool assumes that all Con Ed projects are eligible to receive the NY-SUN Incentive including the affordable adder. The incentive is expected to decline over time, as more solar capacity is built in Con Edison territory. The table below summarizes the estimated level of the NY-SUN Incentive by year:"]
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[null,"New York State Residential Tax Credit: residents of owner-occupied multifamily buildings are eligible to receive a state income tax credit of up to 25% of the cost of a solar energy system after deducting the NY-SUN incentive. The NYS Residential Tax Credit is currently capped at $5,000 per household and is capped at 50 kilowatts-DC on a per project basis. The incentive is included in the financial analysis for owner-occupied buildings only."]
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[null,"New York State Historic Rehabilitation Tax Credit: residents of owner-occupied multifamily buildings that are listed on the National Register and in income qualifying census tracts are eligible for a state income tax credit worth 20% of the cost of a solar energy system. This incentive is included in the financial analysis for owner-occupied buildings where Landmark/Historic District = Yes and Income-Qualifying Census Tract = Yes. Learn more about this incentive program here:"]
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[null,"https://parks.ny.gov/shpo/tax-credit-programs/"]
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[null,"Interaction Between Residential NY State Tax Credits and Federal Income Taxes: this model assumes that offsetting a state income tax bill results in a corresponding increase to federal taxable income. Model assumes that the incremental taxable federal income is taxed at 25%."]
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[null,"NYC Solar Property Tax Abatement: solar projects in NYC may be eligible for a solar property tax abatement equal to 20% of the cost of the system after deducting the NY-SUN incentive, applied in equal increments over the course of four year. If a building already has full tax exemption or certain abatements, this incentive cannot be monetized. A user can specify eligibility for the NYC Property Tax Abatement on the User Inputs tab. "]
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[null,"Accelerated Depreciation: solar energy systems owned by commercial businesses are eligible for federal and state accelerated depreciation, including 100% year one bonus depreciation at the federal level and 5-year MACRS at the state level. The federal basis for depreciation is the total cost of the solar energy system minus half of the federal tax credit. The state basis for depreciation is the cost of the solar energy system minus the NY-SUN incentive. Please note that an owner's ability to take advantage of depreciation depends on their business' taxable passive income, income tax rates and total tax liability. If a user indicates that they are not able to benefit from Accelerated Depreciation or that they are not eligible for solar tax incentives via User Inputs, the value of this incentive is calculated to be zero. Unless a user specifies federal and state income tax rates using Advanced Inputs, the assumed federal income tax rate for calculating the value of depreciation is 21% and the state income tax rate is 7.1%. The table below summarizes the depreciation schedules:"]
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[null,"Low Income Housing Tax Credits: solar energy systems can be included in the basis for LIHTCs. When a project includes LIHTCs, it can significantly improve the economics of the solar project because LIHTCs can be combined with solar incentives. There are two ways for a user to indicate that a solar project is eligible for LIHTCs; on the User Inputs tab, a user can enter one of the following values into the field Low Income Housing Tax Credits: \"No\", \"4%\", or \"9%\". Entering 4% on the User Inputs tab yields an effective 3.17% LIHTC value , applied over ten years, while entering 9% yields a 9% LIHTC value, applied over ten years (source: October 2019 IRS bulletin: https://www.irs.gov/pub/irs-drop/rr-19-23.pdf). The other way that a user can indicate the Low Income Housing Tax Credit value is through the Advanced Inputs tab, where a user can specify the exact LIHTC rate. The LIHTC basis is the total cost of the solar energy system minus 50% of the value of the federal solar Investment Tax Credit."]
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["Other Assumptions"]
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["Solar Operations & Maintenance: this tool assumes there are limited O&M expenses for the solar energy systems. Solar energy systems typically include 25 year manufacturer warranties on solar panels, 10+ year warranties on inverters, and 5-10 year workmanship warranties. The only O&M cost included in this tool is an inverter replacement during year 15 of the 25 year analysis period. The assumed inverter replacement cost is $0.20/Watt-DC including parts & labor."]
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["HPD Underwriting Tab"]
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["Capitalization (Cap) Rate: this input depends on what capitalization rate the first mortgage lender uses to size their first mortgage or an estimate of what lender would use. For this tool, the cap rate is used to approximate the additional first mortgage that project can receive through the expense savings associated with a solar PV system."]
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["Raise per Tax Credit (LIHTC and ITC): the tax credit raise refers to what the LIHTC and ITC syndicators/investors will pay the developer for each dollar of LIHTC/ITC tax credit (in other words, the amount of money the developer expects to receive per dollar of tax credits). Investors/syndicators typically pay slightly more or less than $1 per dollar of tax credits, depending on market conditions and the project's risk profiel. In this tool, we use the raise to estimate the additional tax credit revenue the solar OV system can generate for the project. "]

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[null,null," Solar Screening Tool"]
[null,null,{"$f":"\"        \"&'Instructions and Assumptions'!E3","v":"        Version 1.5, Updated October 2020"}]
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["User Inputs"]
["This tool can be used to complete a preliminary assessment of solar financial viability for a New York City affordable housing property based on the inputs below. This tool was developed by the New York City Department of Housing Preservation and Development (HPD), with support from non-profit Solar One, as part of the agency's efforts to increase the deployment of solar electric systems on affordable housing properties participating in HPD programs."]
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["Building Characteristics"]
["Site Address",null,null,"123 Main St"]
["HPD ID",null,null,12345]
["Building Type",null,null,"Rental"]
["New Construction vs Renovation",null,null,"New Construction"]
["Prevailing Wages Required",null,null,"No"]
["Project Completion Year",null,null,2021]
["Eligible for Solar Tax Credit",null,null,"Yes"]
["Can Project Benefit from Accelerated Depreciation?",null,null,"Yes"]
["Low Income Housing Tax Credits",null,null,"No"]
["Eligible for NYC Solar Property Tax Abatement",null,null,"No"]
["Landmark or Historic District",null,null,"No"]
["Income Qualifying Census Tract",null,null,"No"]
["Building Height (ft)",null,null,70]
["Estimated Usable Roof Area for Solar (sq ft)",null,null,3000]
["Solar Canopy Design",null,null,"Yes"]
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["Owner-Paid Electricity Information"]
["Electric Utility",null,null,"Con Edison"]
["Est. Annual Owner-Paid Electricity Costs",null,null,20000]
["Master-Metered Building",null,null,"No"]
["Elevator Building",null,null,"Yes"]
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["Contact Information"]
["Name",null,null,"John Doe"]
["Company",null,null,"ACME Solar"]
["Email",null,null,"jd@acme.io"]
["Phone",null,null,"212-222-2222"]
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["Disclaimer: Solar One is providing this preliminary analysis tool on an as-is basis and makes no claims regarding the accuracy of calculations and figures provided herein. Solar technical feasibility, installation costs, incentives, energy generation, and electricity bill savings may vary."]

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[null,null," Solar Screening Tool"]
[null,null,{"$f":"'User Inputs'!C3","v":"        Version 1.5, Updated October 2020"}]
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["ADVANCED INPUTS (OPTIONAL)"]
["Values entered into this form will override any default assumptions or calculated values. All fields on this page are optional."]
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["Solar Energy System Characteristics"]
["Solar Energy System Size (kW-DC)"]
["Turnkey Solar Energy System Price ($/Watt-DC)"]
["Year One Production (kWh)"]
["Annual Solar Performance Degradation"]
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["Value of Solar ($/kWh)"]
["Con Edison Electricity Tariff (Owner-Paid)"]
["Peak Demand (Prev. 12 Months or Estimated (kW))"]
["Annual Electricity Usage (Actual or Estimated kWh)"]
["CSRP Load Zone"]
["Year One Value of Solar ($/kWh)"]
["Annual Escalation to Value of Solar"]
["Annual Meter Fees (CDG Only)"]
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["Incentives and Taxes"]
["Low Income Housing Tax Credit (%)"]
["Solar Tax Credit (%)"]
["Owner Federal Income Tax Rate (%)"]
["Owner State Income Tax Rate (%)"]
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["Disclaimer: Solar One is providing this preliminary analysis tool on an as-is basis and makes no claims regarding the accuracy of calculations and figures provided herein. Solar technical feasibility, installation costs, incentives, energy generation, and electricity bill savings may vary."]

{"sheet":"Solar Layout","index":3,"n_rows":43,"n_cols":5,"rows_kept":43,"cut":false,"hidden":false,"merged":[[4,0,4,6],[42,0,43,6],[35,0,41,6],[5,0,8,6]]}
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[null,null,null,null,"Solar Screening Tool"]
[null,null,null,null,{"$f":"'User Inputs'!C3","v":"        Version 1.5, Updated October 2020"}]
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["Solar PV System Layout or Usable Roof Area"]
["In the space below, include a layout of the building rooftop which includes a preliminary solar PV system design or alternatively identifies areas designated for the installation of solar PV. Please note: projects pursuing Enterprise Green Communities or LEED certification must submit a roof plan to HPD as part of the Solar Feasibility Analysis. This sheet does not need to be utilitized if a roof plan is furnished."]
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["Description, including estimated usable roof area for solar PV"]
["Rooftop solar layout above includes all reasonable locations for solar PV modules."]
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[{"$f":"\"Prepared by \"&Name&\" using Version 1.4 of the HPD Solar Screening Tool on \"&TEXT(NOW(),\"MMM-DD-YYYY\")","v":"Prepared by John Doe using Version 1.4 of the HPD Solar Screening Tool on Oct-20-2020"}]

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[null,"Solar Screening Tool - Results"]
[null,{"$f":"\"           \"&'Solar Layout'!E3","v":"                   Version 1.5, Updated October 2020"}]
[]
[{"$f":"\"Preliminary Solar Financial Analysis: \"&SiteAddress","v":"Preliminary Solar Financial Analysis: 123 Main St"}]
["Solar electric systems provide electricity bill savings, however they are also eligible for a number of federal, state and local incentives that can significantly improve return on investment. The summary below includes estimated costs, incentives, electricity bill savings, and payback period for a solar energy system on this property."]
[]
[]
[]
[]
["Solar Energy System Size (kW-DC)",null,null,{"$f":"IFERROR(IF(RecommendedPVSystemSize<4,\"System Too Small\",RecommendedPVSystemSize),\"\")","v":42}]
["Year One Solar Production (kWh)",null,null,{"$f":"IFERROR(Y1SolarProduction,\"\")","v":45885}]
["Year One Utility Bill Savings",null,null,{"$f":"IFERROR('25 Year Cash Flow'!F5,\"\")","v":9499.418820112387}]
["Total Cost ($/Watt-DC)",null,null,{"$f":"D14/(PVSystemSize*1000)","v":4.3542857142857141}]
["Total Cost Estimate",null,null,{"$f":"IFERROR(-'Assumptions Calcs & Lookups'!$B$105,\"\")","v":182880}]
["NY-SUN Incentive",null,null,{"$f":"IFERROR('Assumptions Calcs & Lookups'!$B$106,\"\")","v":42000}]
["Upfront Cost Estimate",null,null,{"$f":"IFERROR(D14-D15,\"\")","v":140880}]
["Cost After Incentives and Taxes",null,null,{"$f":"IFERROR(-'Assumptions Calcs & Lookups'!B115,\"\")","v":64736.896774943285}]
["Payback Period",null,null,{"$f":"IF(COUNTIF('25 Year Cash Flow'!Q4:Q29,\"<0\")&\" years\"=\"26 years\", \"N/A\",COUNTIF('25 Year Cash Flow'!Q4:Q29,\"<0\")&\" years\")","v":"7 years"}]
["Internal Rate of Return",null,null,{"$f":"IFERROR(IRR('25 Year Cash Flow'!S4:S29,0.1),\"\")","v":0.12200092823058228}]
["Lifetime Net Savings",null,null,{"$f":"'25 Year Cash Flow'!Q29","v":179505.34732374258}]
["Federal Investment Tax Credit*",null,null,{"$f":"IFERROR(ITC,\"\")","v":30990.500639999998}]
["Low Income Housing Tax Credit",null,null,{"$f":"IFERROR(TenYearLIHTCValue,\"\")","v":0}]
["NYC Property Tax Abatement",null,null,{"$f":"IFERROR(NYCPTA,\"\")","v":0}]
["Residential State Income Tax Credits",null,null,{"$f":"IFERROR(NYSResidentialTaxCredit+NYSHistoricTaxCredit,\"\")","v":0}]
["Depreciation (Federal and State)*",null,null,{"$f":"IFERROR('Assumptions Calcs & Lookups'!B110,\"\")","v":45152.602585056717}]
["Federal Taxes Due on State Tax Credit",null,null,{"$f":"IFERROR('Assumptions Calcs & Lookups'!B114,\"\")","v":0}]
[]
["*If building owner is not able to benefit from tax incentives directly, third-party ownership may allow the owner to benefit from tax incentives indirectly."]
[]
["FEASIBILITY REPORT PREPARED BY",null,null,null,null,"NEXT STEPS"]
["Name",{"$f":"IF(Name=0,\"\",Name)","v":"John Doe"},null,null,null,"1. Submit Solar Feasibility Analysis to HPD.\n2. HPD approves project, exempts project, or requires a Solar Consultation.\n3. Project refines design as needed.\n4. Team solicits bids from NYSERDA qualified solar installation companies."]
["Company",{"$f":"IF(Company=0,\"\",Company)","v":"ACME Solar"}]
["Email",{"$f":"IF(Email=0,\"\",Email)","v":"jd@acme.io"}]
["Phone",{"$f":"IF(Phone=0,\"\",Phone)","v":"212-222-2222"}]
["HPD ID",{"$f":"IF('User Inputs'!D13=0,\"\",'User Inputs'!D13)","v":12345}]
[{"$f":"IF(FormComplete=1,\"\",\"WARNING: incomplete form. Please enter values for all blue fields on the User Inputs and Solar Layout tabs.\")","v":""}]
[]
[]
[]
[]
["Disclaimer: Solar One is providing this preliminary analysis tool on an as-is basis and makes no claims regarding the accuracy of calculations and figures provided herein. Solar technical feasibility, installation costs, incentives, energy generation, and electricity bill savings may vary."]

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[]
[null,null,"Solar Underwriting Tool"]
[null,null,{"$f":"'Solar Summary'!B2","v":"                   Version 1.5, Updated October 2020"}]
[]
["User Inputs"]
["User to fill in all Highlighted Cells (blue). All other cells will be automatically populated/calculated. This tool can be used to assess preliminary solar financial viability for an NYC affordable housing property from an HPD underwriting perspective."]
[]
["Inputs from Solar Screening Tool or Solar Designer"]
["Site Address",null,null,{"$f":"SiteAddress","v":"123 Main St"}]
["Solar Systen Size (kW-DC) ",null,null,{"$f":"PVSystemSize","v":42}]
["Estimated Owner Electric Cost (Annual)",null,null,{"$f":"AnnualElectricBill","v":20000}]
["Year One Utility Bill Savings (should be lower than Owner's Electric Cost)",null,null,{"$f":"'Solar Summary'!D12","v":9499.418820112387}]
["Upfront Cost Estimate (after NY-SUN) ",null,null,{"$f":"'Solar Summary'!D16","v":140880}]
["Estimated Payback (in years)",null,null,{"$f":"'Solar Summary'!D18","v":"7 years"}]
[]
["Financing & Permanent Loan Assumptions (HPD PM to Populate)"]
["Estimated Project Cost (TDC)"]
["Number of Dwelling Units"]
["Loan Term (years)"]
["Perm. Loan Rate (%)"]
["Cap Rate (%)",null,null,0.05]
["Permanent Lender Maximum LTV"]
["Permanent Lender Minimum DSCR (typically 1.15 or 1.25)"]
["% of Energy Savings that will be Underwritten ",null,null,0.8]
[]
["Tax Credit Assumptions (HPD PM to Populate)"]
["LIHTC Annual Credit if applicable (9%, 4%, 0%)",null,null,{"$f":"LIHTCRate","v":0}]
["Eligible Basis with Boost (for QCT or DDA)"]
["Raise per Credit (LIHTC)"]
["LIHTC Credit equity",null,null,{"$f":"TenYearLIHTCValue","v":0}]
["LIHTC Credit equity per Dwelling Unit",null,null,{"$f":"IFERROR(D30/D18,)","v":0}]
["Federal Solar Tax Credit ",null,null,{"$f":"FedTaxCreditPercent","v":0.22}]
["Raise per Solar Tax Credit (ITC)"]
["Federal Solar Tax Credit equity",null,null,{"$f":"ITC*'HPD Underwriting'!D33","v":0}]
[]
["Subsidy & Loan Impacts (Results Automatically Calculated)"]
["Total Cost after RETC & LIHTC Credit Applied",null,null,{"$f":"D13-D30-D34","v":140880}]
["Underwritten Annual Energy Savings (Year One Savings * % Underwritten)",null,null,{"$f":"D24*D12","v":7599.5350560899096}]
["LTV Test for Additional First Mortgage ",null,null,{"$f":"IF(COUNT(D21:D22)<2,\"TBD\",D38/D21*D22)","v":"TBD"}]
["DSCR Test for Additional First Mortgage ",null,null,{"$f":"IFERROR(-PV(D20/12,D19*12,D38/D23/12,0),\"TBD\")","v":"TBD"}]
["Additional First Mortgage - (Lower of LTV & DSCR Test)",null,null,{"$f":"IF(OR(D39=\"TBD\",D40=\"TBD\"),\"TBD\",MIN(D39:D40))","v":"TBD"}]
["Subsidy Required (Incremental Cost of Solar)",null,null,{"$f":"IF(COUNT(D17:D24)<8,\"TBD\",D37-D41)","v":"TBD"}]
["Subsidy per Dwelling Unit",null,null,{"$f":"IFERROR(D42/D18,\"TBD\")","v":"TBD"}]
["Subsidy as Percent of TDC",null,null,{"$f":"IFERROR(D42/D17,\"TBD\")","v":"TBD"}]
["Metric Tons of Carbon Avoided (Local Law 97 Coefficients for 2024-2030)",null,null,{"$f":"'Solar Summary'!D11*0.00028896","v":13.2589296}]
["Annual \"Value\" of Avoided Carbon (Assuming $268/metric ton per LL97)",null,null,{"$f":"D45*268","v":3553.3931327999999}]

{"sheet":"Assumptions Calcs & Lookups","index":6,"n_rows":120,"n_cols":12,"rows_kept":120,"cut":false,"hidden":true,"merged":[[2,7,2,11],[2,0,2,2],[16,0,16,1],[18,0,18,1],[28,0,28,1],[9,7,9,11],[10,7,10,10],[11,7,11,10],[12,7,12,10],[13,7,13,10],[14,7,14,10],[102,0,102,1],[47,0,47,1],[55,0,55,1],[30,0,30,1],[67,0,67,1],[78,0,78,1],[84,0,84,2],[96,0,96,1],[41,0,41,1]]}
["Assumptions, Calculations and Lookup Tables"]
[]
["System Price Estimate ($/Watt-DC)",null,null,"<- Update every 12 months",null,null,null,"Incentives by Project Completion Year"]
["Min (kW-DC)","Max (kW-DC)","Price ($/Watt-DC)",null,null,null,null,"Year","ITC","RETC","NY-SUN","NY-SUN Adder"]
[4,9.99,5,null,null,null,null,2020,0.26,0.26,0.4,0.6]
[10,19.989999999999998,4.25,null,null,null,null,2021,0.22,0.22,0.3,0.7]
[20,29.99,3.6,null,null,null,null,2022,0.1,0,0.2,0.8]
[30,44.99,3.3,null,null,null,null,2023,0.1,0,0.15,0.85]
[45,64.989999999999995,3.1]
[65,79.989999999999995,2.95,null,null,null,null,"EPC Price Decrease by Project Completion Year"]
[80,99.99,2.85,null,null,null,null,"Year",null,null,null,"Base Price Percentage"]
[100,149.99,2.7,null,null,null,null,2020,null,null,null,1]
[150,249.99,2.5,null,null,null,null,2021,null,null,null,{"$f":"L12*(1-0.04)","v":0.96}]
[250,499.99,2.2999999999999998,null,null,null,null,2022,null,null,null,{"$f":"L13*(1-0.04)","v":0.92159999999999997}]
[500,749.99,2.2000000000000002,null,null,null,null,2023,null,null,null,{"$f":"L14*(1-0.04)","v":0.88473599999999997}]
[750,null,2.1]
["Base EPC Price for Simulation ($/Watt-DC)",null,{"$f":"LOOKUP(PVSystemSize,Min__kW_DC,Price____Watt_DC)","v":3.3}]
[]
["Pricing Adders",null,"Applies?"]
["Mechanically Attached Adder ($/Watt-DC)",0.25,{"$f":"IF(RecommendedPVSystemSize<15,\"Yes\",IF(BldgHeight>100,\"Yes\",\"No\"))","v":"No"},"<- Systems that are under 15 kW-DC or above 100 ft will be subject to the mechanically attached adder."]
["Canopy Adder ($/Watt-DC)",1.2,{"$f":"IF(Canopy=\"Yes\",\"Yes\",\"No\")","v":"Yes"},"<-  Only applicable if user indicates that a system is a canopy but does not specify the system price."]
["Tall Building Adder ($/Watt-DC)",0.2,{"$f":"IF(BldgHeight>'Assumptions Calcs & Lookups'!B23,\"Yes\",\"No\")","v":"No"}]
["Tall Building Adder Threshold (ft)",70]
["Very Tall Building Adder ($/Watt-DC)",0.2,{"$f":"IF(BldgHeight>'Assumptions Calcs & Lookups'!B25,\"Yes\",\"No\")","v":"No"},"<- Additional to the Tall Building Adder"]
["Very Tall Building Adder Threshold (ft)",150]
["Landmarks Adder ($/Project)",1250,{"$f":"IF(Landmark=\"Yes\",\"Yes\",\"No\")","v":"No"}]
["New Meter Adder ($/Project)",1500,{"$f":"IF(ElectricTariff=\"EL2\",\"No\",IF(ElectricTariff=\"EL1\",\"No\",\"Yes\"))","v":"Yes"},"<- Applied when owner-paid electricity is metered under EL8, EL9, or EL12 rate in order to increase value of solar under VDER tariff."]
["Prevailing Wage Adder (%)",0.2,{"$f":"IF(PrevailingWage=\"Yes\",\"Yes\",\"No\")","v":"No"}]
["Total EPC Price for Model ($/Watt-DC)","Total Price for Simulation ($/Watt-DC)",{"$f":"IF(OREPCPricePerWattDC<>\"\",OREPCPricePerWattDC,((((C17+SUMIF(C20:C24,\"Yes\",B20:B24))*PVSystemSize*1000)+SUMIF('Assumptions Calcs & Lookups'!C26:C27,\"Yes\",'Assumptions Calcs & Lookups'!B26:B27))/(PVSystemSize*1000)*VLOOKUP(ProjectCompletionYear,$H$12:$L$15,5,FALSE))*(IF(PrevailingWage=\"Yes\",1+B28,1)))","v":4.3542857142857141},"<- Adjusted based on project year (assumes 4% annual decrease to turnkey EPC price)"]
[]
["Solar Energy System and Production"]
["Year One Shade-Free Production Factor (kWh/kW-DC)",1150,"<- Max output without using Advanced Inputs to override defaults (conservative)."]
["Solar Access (%)",0.95,"<- Default value, Production Factor can be defined by user with Advanced Inputs."]
["Effective Capacity Factor",{"$f":"(B32*SolarAccess)/8760","v":0.12471461187214612},"<- For reference only. "]
["Watts-DC Per Square Foot Usable Roof Area",12,"<- Conservative assumption re: power density."]
["Watts-DC Per Square Foot Usable Roof Area (Canopy)",14]
["Max Possible System Size (kW-DC)",{"$f":"IF(Canopy=\"Yes\",UsableRoofArea*B36/1000,UsableRoofArea*B35/1000)","v":42},"<- Max system size based on available roof area (not considering electric bill)."]
["Recommended System Size (kW-DC)",{"$f":"IF(ORPVSystemSize<>\"\",ORPVSystemSize,IF(OR(ElectricTariff=\"EL2\",ElectricTariff=\"EL1\"),IF(MaxPVSystemSize*B32*SolarAccess<AnnualUsagekWh,MaxPVSystemSize,MaxPVSystemSize*(AnnualUsagekWh/(B37*B32*SolarAccess))),IF(MaxPVSystemSize*B32*SolarAccess*Y1VoS<AnnualElectricBill,MaxPVSystemSize,MaxPVSystemSize*(AnnualElectricBill/(MaxPVSystemSize*B32*SolarAccess*Y1VoS)))))","v":42},"<- Recommended system never offsets more than 100% of annual usage under net metering, and never offsets more than 100% of owner-paid electric bill under VDER."]
["Year One Solar Production (kWh)",{"$f":"IF(ORY1SolarProduction<>\"\",ORY1SolarProduction,RecommendedPVSystemSize*B32*SolarAccess)","v":45885}]
["Annual PV Performance Degradation",{"$f":"IF(ORAnnualPVDegradation<>\"\",ORAnnualPVDegradation,0.5%)","v":5.0000000000000001E-3}]
[]
["Value of Solar Assumptions/Estimates"]
["Electric Tariff",{"$f":"IF(ORElectricTariff<>\"\",ORElectricTariff,IF(MasterMetered=\"Yes\",\"EL8\",IF(ElevatorBuilding=\"Yes\",\"EL9\",IF(AND(MasterMetered=\"No\",ElevatorBuilding=\"No\"),\"EL2\",))))","v":"EL9"},"<- Estimated based on User Inputs. Advanced Inputs allow for override."]
["Peak Demand (Prev. 12 Months or Estimated (kW))",{"$f":"IF(ORPeakDemandkW<>\"\",ORPeakDemandkW,(AnnualUsagekWh/8760)*2)","v":22.831050228310502},"<- Estimated based on User Inputs. Assumes 50% Load Factor. Advanced Inputs allow for override."]
["Annual Usage (kWh)",{"$f":"IF(ORAnnualUsagekWh<>\"\",ORAnnualUsagekWh,IF(OR(ElectricTariff=\"EL9\",ElectricTariff=\"EL8\",ElectricTariff=\"EL12\"),AnnualElectricBill/0.2,IF(OR(ElectricTariff=\"EL2\",ElectricTariff=\"EL1\"),AnnualElectricBill/0.24,)))","v":100000},"<- Estimated based on User Inputs. Advanced Inputs allow for override."]
["CSRP Load Zone",{"$f":"IF(ORCSRPLoadZone<>\"\",ORCSRPLoadZone,\"7:00 PM-11:00 PM\")","v":"7:00 PM-11:00 PM"},"<-Default is lowest value (evening peak). Advanced Inputs allow for override."]
[]
["NEM Value of Solar ($/kWh)",null,"<- Update every 12 months"]
["Utility Tariff","NEM VoS"]
["EL2",0.22]
["EL8",0.11]
["EL9",0.11]
["EL1",0.22]
["EL12",0.11]
[]
["VDER w Community Credit: Value of Solar by CSRP Load Zone ($/kWh)",null,"<- Update every 12 months. Source: NYSERDA VDER Calculator Version 2.3, published September 2019. "]
["11:00 AM-3:00 PM",0.29288605050976102]
["2:00 PM-6:00 PM",0.26684533588617088]
["4:00 PM-8:00 PM",0.23565467001137688]
["7:00 PM-11:00 PM",0.21408780255230223]
[]
["VoS for Model",{"$f":"IF(ORY1VoS<>\"\",ORY1VoS,IF(ElectricTariff=\"EL2\",B50,IF(ElectricTariff=\"EL1\",B53,IF(AND(ElectricTariff=\"EL9\",PeakDemandkW>25),(VLOOKUP(CSRPLoadZone,CSRPVoSLookup,2,FALSE)-0.12),VLOOKUP(CSRPLoadZone,CSRPVoSLookup,2,FALSE)))))","v":0.21408780255230223},"<- Assuming net energy metering for EL2 and EL1, VDER for all other electricity tariffs."]
["VoS Annual Escalator",{"$f":"IF(ORVoSEscalator<>\"\",ORVoSEscalator,IF(OR(ElectricTariff=\"EL2\",ElectricTariff=\"EL1\"),\"2.5%\",1%))","v":0.01},"<- Assuming 2.5% annual increase to value of solar under net metering, 1% under VDER."]
[]
["Annual NEM Customer Benefit Contribution ",{"$f":"-RecommendedPVSystemSize*1.09*12","v":-549.36},"<- $1.09/month/kW-DC. Only applied for projects NOT using CDG"]
["CDG Annual Meter Fees",{"$f":"IF(ORCDGAnnualMeterFee<>\"\",ORCDGAnnualMeterFee,-27*12)","v":-324},"<- Only applied for projects where the value of solar is higher for VDER/CDG than NEM so solar export meter is recommended."]
[]
["Solar Incentives",null,"<- Update every 12 months"]
["NYSERDA NY-SUN Incentive MW Block ($/Watt-DC)",{"$f":"VLOOKUP(ProjectCompletionYear,$H$4:$L$8,4,FALSE)","v":0.3},"<- References ProjectCompletionYear"]
["NYSERDA NY-SUN Affordable Housing Adder ($/Watt-DC)",{"$f":"VLOOKUP(ProjectCompletionYear,$H$4:$L$8,5,FALSE)","v":0.7},"<- Only applicable for the first 200 kW-DC of any solar project."]
["Total Solar Resource Fraction (TSRF)",{"$f":"88%*SolarAccess","v":0.83599999999999997},"<- If TSRF is less than 70%, NYSERDA reduces the incentive proportionately (TSRF*Shade-Free Incentive)."]
["NY-SUN Rebate ($/Watt-DC)",{"$f":"IF(AND(RecommendedPVSystemSize<=200,TSRF>=0.7),(B69+B70),IF(AND(RecommendedPVSystemSize<=200,TSRF<0.7),(B69+B70)*TSRF,IF(AND(RecommendedPVSystemSize>200,TSRF>=0.7),(((200*(B69+B70))+((RecommendedPVSystemSize-200)*B69))/RecommendedPVSystemSize),IF(AND(RecommendedPVSystemSize>200,TSRF<0.7),((((200*(B69+B70))+((RecommendedPVSystemSize-200)*B69))/RecommendedPVSystemSize)*TSRF),\"\"))))","v":1}]
["Federal Tax Credit",{"$f":"IF(ORFedTaxCreditPercent<>\"\",ORFedTaxCreditPercent,IF(OwnerType=\"Rental\",VLOOKUP(ProjectCompletionYear,$H$4:$J$8,2,FALSE),IF(OwnerType=\"Co-op/Condo\",VLOOKUP(ProjectCompletionYear,$H$4:$J$8,3,FALSE),)))","v":0.22},"<- References OwnerType and ProjectCompletionYear"]
["NY State Residential Tax Credit",0.25,"<- Co-ops/condos only, taken by the residents, capped at 50 kW-DC."]
["NYC Property Tax Abatement",0.2,"<- Likely not available to HPD-financed projects."]
["NYC Property Tax Abatement Cap ($)",250000]
["NY State Historic Tax Credit",0.2,"<- Only applicable for rehab projects for co-ops/condos that are either landmark buildings or in an historic district AND income qualifying census tracts. https://www.tax.ny.gov/pit/credits/historic_rehab_credit.htm"]
[]
["Other Assumptions"]
["Residential Federal Income Tax Rate",{"$f":"IF(ORFedTaxRate<>\"\",ORFedTaxRate,25%)","v":0.25},"<- Used to calculate federal income taxes on state tax credit."]
["Corporate Federal Income Tax Rate",{"$f":"IF(ORFedTaxRate<>\"\",ORFedTaxRate,21%)","v":0.21},"<- Used to calculate depreciation value."]
["State Income Tax Rate",{"$f":"IF(ORStateTaxRate<>\"\",ORStateTaxRate,7.1%)","v":7.0999999999999994E-2},"<- Used to calculate depreciation value."]
["Inverter Replacement Cost ($/Watt-DC)",0.2,"<- Inverter is replaced in year 15."]
[]
["Depreciation Schedules"]
["Year","Federal Accelerated Depreciation (MACRS)","State Depreciation"]
[1,1,0.2]
[2,null,0.32]
[3,null,0.192]
[4,null,0.115]
[5,null,0.115]
[6,null,5.8000000000000003E-2]
[]
["Federal Depreciation Basis",{"$f":"IF(EligibleDepreciation=\"Yes\",-TotalEPCPrice-(ITC/2)*TaxIncentiveMultiplier,0)","v":167386.299205032},"<- Total System Cost minus 50% of the value of the Federal Investment Tax Credit * Tax Incentive Multiplier"]
["State Depreciation Basis",{"$f":"IF(EligibleDepreciation=\"Yes\",-UpfrontCost*TaxIncentiveMultiplier,0)","v":140865.91200000001},"<- Total System Cost minus NY SUN incentive * Tax Incentive Multiplier"]
[]
["Low Income Housing Tax Credits"]
["LIHTC Basis",{"$f":"-TotalEPCPrice-(ITC/2)*TaxIncentiveMultiplier","v":167386.299205032},"<- Total System Cost minus 50% of the value of the Federal Investment Tax Credit * Tax Incentive Multiplier"]
["9% LIHTC Rate",0.09,"<- Source: October 2019 IRS bulletin: https://www.irs.gov/pub/irs-drop/rr-19-23.pdf"]
["4% LIHTC Rate",3.1699999999999999E-2,"<- Source: October 2019 IRS bulletin: https://www.irs.gov/pub/irs-drop/rr-19-23.pdf"]
["Applicable LIHTC Rate",{"$f":"IF(ORLIHTCRate<>\"\",ORLIHTCRate,IF(LIHTCEligible=\"No\",0,IF(LIHTCEligible=0.09,B99,IF(LIHTCEligible=0.04,B100,))))","v":0}]
[]
["Cost and Incentive Calculations"]
["Tax Incentive Multiplier",0.99990000000000001,"<- Assumes that solar projects are integrated into developments with a general partner and tax equity investor with 99.99% ownership."]
["System Cost",{"$f":"-RecommendedPVSystemSize*EPCPricePerWattDC*1000","v":-182880}]
["NY SUN Incentive",{"$f":"IF(Utility=\"PSEG-LI\",0,NYSUNDollarPerWattDC*RecommendedPVSystemSize*1000)","v":42000}]
["Upfront Cost",{"$f":"B105+B106","v":-140880}]
["Federal Investment Tax Credit",{"$f":"IF(TaxIncentiveEligible=\"Yes\",-UpfrontCost*B73*TaxIncentiveMultiplier,)","v":30990.500639999998},"<- Federal Tax Credit calculated after deducting NYSERDA incentive from total EPC price."]
["LIHTC Value (Undiscounted)",{"$f":"B98*B101*10*TaxIncentiveMultiplier","v":0},"<- Total ten year value of LIHTC without net present value calculation."]
["Depreciation Value (Federal and State)",{"$f":"SUM('25 Year Cash Flow'!N5:O10)","v":45152.602585056717}]
["NY State Residential Tax Credit",{"$f":"IF(TaxIncentiveEligible=\"No\",0,IF(TaxIncentiveEligible=\"\",0,IF(AND(OwnerType=\"Co-op/Condo\",RecommendedPVSystemSize<=50),-UpfrontCost*'Assumptions Calcs & Lookups'!B74,IF(AND(OwnerType=\"Co-op/Condo\",RecommendedPVSystemSize>50),50*(C29-B72)*1000*B74,0))))","v":0}]
["NY Historic Tax Credit",{"$f":"IF(AND(OwnerType=\"Co-op/Condo\",Landmark=\"Yes\",QualifyingCensusTract=\"Yes\",NewConstruction=\"Renovation\"),-UpfrontCost*'Assumptions Calcs & Lookups'!B77,0)","v":0},"<- Only available for existing owner-occupied properties that are Landmark or Historic and in Income Qualifying Census Tracts."]
["NYC Property Tax Abatement",{"$f":"IF(PTAEligible=\"\",0,IF(PTAEligible=\"No\",0,IF(UpfrontCost*'Assumptions Calcs & Lookups'!B75>'Assumptions Calcs & Lookups'!B76,'Assumptions Calcs & Lookups'!B76,-UpfrontCost*'Assumptions Calcs & Lookups'!B75)))","v":0}]
["Increased Federal Taxes Due to State Incentives",{"$f":"(-SUM(B111:B112)*'Assumptions Calcs & Lookups'!B80)","v":0},"<- Assuming that NY State income tax credits result in corresponding increase to federal income, and therefore tax liability. https://www.bu.edu/law/files/2016/06/Feld-Final-5-30.pdf."]
["Net Cost After Incentives and Taxes",{"$f":"SUM(B107:B114)","v":-64736.896774943285}]
[]
["Form Completion Check",{"$f":"IF(SUM(ISBLANK(SiteAddress),ISBLANK(OwnerType),ISBLANK(NewConstruction),ISBLANK(ProjectCompletionYear),ISBLANK(TaxIncentiveEligible),ISBLANK(EligibleDepreciation),ISBLANK(LIHTCEligible),ISBLANK(PTAEligible),ISBLANK(Landmark),ISBLANK(QualifyingCensusTract),ISBLANK(BldgHeight),ISBLANK(UsableRoofArea),ISBLANK(ElectricTariff),ISBLANK(PeakDemandkW),ISBLANK(AnnualUsagekWh),ISBLANK(AnnualElectricBill),ISBLANK(CSRPLoadZone),ISBLANK(Name),ISBLANK(Company),ISBLANK(Email),ISBLANK(Phone),ISBLANK(SolarLayoutNotes))>0,0,1)","v":1}]
[]
["This tool was developed by non-profit Solar One. It is provided on an as-is basis and Solar One makes no claims regarding the accuracy of its contents."]
["If you have questions or feedback regarding this tool, please email herecomessolar@solar1.org."]

{"sheet":"25 Year Cash Flow","index":7,"n_rows":29,"n_cols":19,"rows_kept":29,"cut":false,"hidden":true,"merged":[]}
["25 Year Cashflow"]
[]
["Year","Solar Energy Production (kWh)","Value of Solar ($/kWh)","Customer Benefit Contribution (Not CDG)","New Meter Fees (CDG Only)","Net Electricity Bill Savings","Upfront System Cost","Inverter Replacement","Federal Tax Credit","LIHTC","Property Tax Abatement","NYS Tax Credit","NYS Historic Tax Credit","Federal Accelerated Depreciation","State Depreciation","Increased Federal Taxes Due to State Tax Credits","Balance","Balance (No Tax Incentives)","Cash Inflows and Outflows"]
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[2,{"$f":"B5*(1-AnnualPVDegradation)","v":45655.574999999997},{"$f":"C5*(1+VoSEscalator)","v":0.21622868057782524},0,{"$f":"IF(ElectricTariff=\"EL2\",0,IF(ElectricTariff=\"EL1\",0,IF(AND(ElectricTariff=\"EL9\",PeakDemandkW>25),0,CDGAnnualMeterFee)))","v":-324},{"$f":"(B6*C6)+SUM(D6:E6)","v":9548.0447432719429},null,null,null,{"$f":"TenYearLIHTCValue/10","v":0},{"$f":"NYCPTA/4","v":0},null,null,{"$f":"'Assumptions Calcs & Lookups'!$B$94*'Assumptions Calcs & Lookups'!B88*'Assumptions Calcs & Lookups'!$B$81","v":0},{"$f":"'Assumptions Calcs & Lookups'!$B$95*'Assumptions Calcs & Lookups'!C88*'Assumptions Calcs & Lookups'!$B$82","v":3200.4735206399996},null,-50490.143492518953,-121832.53643661567,12748.518263911943]
[3,45427.297124999997,0.2183909673836035,0,-324,9596.9113647511404,null,null,null,0,{"$f":"NYCPTA/4","v":0},null,null,{"$f":"'Assumptions Calcs & Lookups'!$B$94*'Assumptions Calcs & Lookups'!B89*'Assumptions Calcs & Lookups'!$B$81","v":0},{"$f":"'Assumptions Calcs & Lookups'!$B$95*'Assumptions Calcs & Lookups'!C89*'Assumptions Calcs & Lookups'!$B$82","v":1920.2841123840001},null,-38972.948015383809,-112235.62507186453,11517.195477135141]
[4,45200.160639374997,0.22057487705743953,0,-324,9646.0198760066578,null,null,null,0,{"$f":"NYCPTA/4","v":0},null,null,{"$f":"'Assumptions Calcs & Lookups'!$B$94*'Assumptions Calcs & Lookups'!B90*'Assumptions Calcs & Lookups'!$B$81","v":0},{"$f":"'Assumptions Calcs & Lookups'!$B$95*'Assumptions Calcs & Lookups'!C90*'Assumptions Calcs & Lookups'!$B$82","v":1150.1701714799999},null,-28176.757967897152,-102589.60519585788,10796.190047486658]
[5,44974.159836178122,0.22278062582801392,0,-324,9695.3714743928904,null,null,null,0,null,null,null,{"$f":"'Assumptions Calcs & Lookups'!$B$94*'Assumptions Calcs & Lookups'!B91*'Assumptions Calcs & Lookups'!$B$81","v":0},{"$f":"'Assumptions Calcs & Lookups'!$B$95*'Assumptions Calcs & Lookups'!C91*'Assumptions Calcs & Lookups'!$B$82","v":1150.1701714799999},null,-17331.216322024262,-92894.233721464989,10845.541645872891]
[6,44749.28903699723,0.22500843208629406,0,-324,9744.9673631911355,null,null,null,0,null,null,null,{"$f":"'Assumptions Calcs & Lookups'!$B$94*'Assumptions Calcs & Lookups'!B92*'Assumptions Calcs & Lookups'!$B$81","v":0},{"$f":"'Assumptions Calcs & Lookups'!$B$95*'Assumptions Calcs & Lookups'!C92*'Assumptions Calcs & Lookups'!$B$82","v":580.08582561600008},null,-7006.1631332171255,-83149.266358273861,10325.053188807136]
[7,44525.542591812242,0.227258516407157,0,-324,9794.8087516389296,null,null,null,0,null,null,null,null,null,null,2788.6456184218041,-73354.457606634925,9794.8087516389296]
[8,44302.914878853182,0.22953110157122858,0,-324,9844.8968549595429,null,null,null,0,null,null,null,null,null,null,12633.542473381347,-63509.560751675381,9844.8968549595429]
[9,44081.400304458919,0.23182641258694087,0,-324,9895.2328943915945,null,null,null,0,null,null,null,null,null,null,22528.775367772942,-53614.327857283788,9895.2328943915945]
[10,43860.993302936622,0.23414467671281028,0,-324,9945.8180972188329,null,null,null,0,null,null,null,null,null,null,32474.593464991776,-43668.509760064953,9945.8180972188329]
[11,43641.688336421939,0.23648612347993839,0,-324,9996.6536968000655,null,null,null,null,null,null,null,null,null,null,42471.247161791842,-33671.856063264888,9996.6536968000655]
[12,43423.47989473983,0.23885098471473779,0,-324,10047.740932599227,null,null,null,null,null,null,null,null,null,null,52518.988094391068,-23624.115130665661,10047.740932599227]
[13,43206.362495266134,0.24123949456188518,0,-324,10099.081050215595,null,null,null,null,null,null,null,null,null,null,62618.069144606663,-13525.034080450067,10099.081050215595]
[14,42990.330682789805,0.24365188950750402,0,-324,10150.675301414161,null,null,null,null,null,null,null,null,null,null,72768.744446020821,-3374.3587790359052,10150.675301414161]
[15,42775.379029375857,0.24608840840257906,0,-324,10202.524944156163,null,{"$f":"-RecommendedPVSystemSize*'Assumptions Calcs & Lookups'!B83*1000","v":-8400},null,null,null,null,null,null,null,null,74571.269390176982,-1571.8338348797424,1802.5249441561627]
[16,42561.502134228977,0.24854929248660484,0,-324,10254.631242629734,null,null,null,null,null,null,null,null,null,null,84825.900632806719,8682.7974077499912,10254.631242629734]
[17,42348.694623557829,0.2510347854114709,0,-324,10306.995467280751,null,null,null,null,null,null,null,null,null,null,95132.89610008747,18989.79287503074,10306.995467280751]
[18,42136.951150440036,0.25354513326558559,0,-324,10359.618894843788,null,null,null,null,null,null,null,null,null,null,105492.51499493126,29349.411769874529,10359.618894843788]
[19,41926.266394687838,0.25608058459824146,0,-324,10412.502808373267,null,null,null,null,null,null,null,null,null,null,115905.01780330452,39761.914578247794,10412.502808373267]
[20,41716.635062714398,0.25864139044422385,0,-324,10465.648497274713,null,null,null,null,null,null,null,null,null,null,126370.66630057924,50227.563075522507,10465.648497274713]
[21,41508.051887400827,0.2612278043486661,0,-324,10519.057257336224,null,null,null,null,null,null,null,null,null,null,136889.72355791545,60746.620332858729,10519.057257336224]
[22,41300.511627963824,0.26384008239215279,0,-324,10572.73039076004,null,null,null,null,null,null,null,null,null,null,147462.45394867548,71319.350723618772,10572.73039076004]
[23,41094.009069824002,0.26647848321607431,0,-324,10626.669206194301,null,null,null,null,null,null,null,null,null,null,158089.12315486977,81946.019929813076,10626.669206194301]
[24,40888.539024474885,0.26914326804823507,0,-324,10680.875018764964,null,null,null,null,null,null,null,null,null,null,168769.99817363473,92626.894948578032,10680.875018764964]
[25,40684.096329352513,0.2718347007287174,0,-324,10735.34915010785,null,null,null,null,null,null,null,null,null,null,179505.34732374258,103362.24409868589,10735.34915010785]

{"sheet":"Change Log","index":8,"n_rows":31,"n_cols":2,"rows_kept":31,"cut":false,"hidden":true,"merged":[[26,0,26,1],[20,0,20,1]]}
["CHANGE LOG"]
["Last updated by Noah Ginsburg (noah@solar1.org) on October 20, 2020"]
["2020-10-01"]
["Item","Description"]
["Added HPD ID","Added HPD ID field to User Input and to the bottom of the Solar Summary tab (displayed under contact info)."]
["Corrected formatting issues with HPD Underwriting tab","Formatted all dollar values as $$."]
[]
["2020-06-01"]
["Item","Description"]
["Added TaxCreditMultiplier","To account for the fact that many of the properties are financed with LIHTC, and HPD uses a standard assumption of 99.99% ownership by the tax equity investor. This assumption is applied universally."]
["Added HPD Underwriting tab","Added tab for HPD's underwriting analysis, which provides another view of the incremental cost and/or benefit of a solar project on an affordable housing development's financials."]
["Updated NY-SUN incentive levels","Reduced NYSERDA's base incentive to $0.40/Watt-DC due to the May 2020 drop in the NY-SUN incentive. Modified the affordable housing adder to reflect NYSERDA's modification to the incentive that ensures affordable housing solar projects up to 200 kW-DC receive a $1.00/Watt-DC incentive."]
["Added \"Annual NEM Customer Benefit Contribution \"","Added to Assumptions Calcs & lookups line 65, and Cash Flow column D. Did not include potential escalator that may be determined in the future. Calculation assumes 70% of CBC for large commercial VDER projects (as recommended by the PSC) Calculation extends to 25 years, however PSC only guarantees rate for 20 years."]
["Cleaned up system size formula on Solar Summary","(changed \"B39\" to RecommendedPVSystemSize)"]
["Added Prevailing Wage option","Added Prevailing wage to user inputs which increases the price by 20%"]
[]
["2020-03-20"]
["Item","Description"]
["Added Instructions and Assumptions tab","Added brief instructions for how to use the tool as well as a detailed description of all key assumptions included in the solar screening tool."]
[]
["2020-02-01"]
["Item","Description"]
["Simplified User Inputs re: Owner Paid Electricity","Moved electricity tariff, usage (kWh), peak demand, and CSRP zone to Advanced Inputs. Added calculations to estimate usage, peak demand and tariff from simplified user inputs (Est. Annual Owner Paid Electricity Costs, Elevator vs Walkup, Master Metered)"]
["Utility Company","Added input for PSEG-LI. If user selects PSEG-LI as their utility, the value of solar calculation is unchanged however the model removes the NYSERDA incentive which is not available in Far Rockaway."]
["Canopy","Created user input where user can specify whether a canopy installation is utilized, and added a pricing increase (and increased power density assumption) to account for this design approach."]
[]
["2019-12-01"]
["Item","Description"]
["Project Completion Year","Added Project Completion Year to user inputs. Created declining incentive schedules and forecast 4% annual turnkey EPC cost reduction to account for projected changes."]
["Advanced Inputs","Created an Advanced Inputs tab with optional inputs that override the default values."]
["NY-SUN Incentive","Modified NY-SUN affordable housing adder to assume that increases to stabilize the incentive at $1.00/Watt-DC as the MW Block steps down."]