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{"sheet":"Introduction","index":0,"n_rows":91,"n_cols":11,"rows_kept":91,"cut":false,"hidden":true,"merged":[[1,1,1,8],[3,1,3,8],[6,1,6,8],[7,1,7,8],[9,3,9,7],[13,3,13,7],[14,3,14,4],[19,3,19,7],[20,3,20,4],[25,3,25,7],[26,3,26,4],[30,3,30,7],[31,3,31,4],[36,1,36,8],[39,1,39,8],[40,1,40,8],[42,1,42,8],[43,1,43,8],[45,1,45,8],[46,1,46,8],[47,1,47,8],[58,1,58,8],[59,1,59,8],[60,1,60,8],[61,1,61,8],[63,1,63,8],[48,1,48,8],[50,1,50,8],[52,1,52,8],[53,1,53,8],[54,1,54,8],[56,1,56,8],[57,1,57,8]]}
[null,"Introduction"]
[null,"As part of the development of Consumer Protection Policy for Maryland Energy Administration's (MEA's) Solar Access Program, this workbook was developed with the following 3 objectives:"]
[null,"1. Calculate the customer's avoidable rate today"]
[null,"2. Determine what percentage below the avoidable rate is achievable for an assumed PPA rate with and without a rebate"]
[null,"3. Calculate an equivalent maximum offer for solar lease, loan, and purchase."]
[]
[null,"The conceptual methodology and an interpretation of results are provided in the accompanying PPA Consumer Benefits Analysis Memo."]
[null,"Results"]
[]
[null,"Objective 1:",null,"Customer's Avoidable Rates Today ($/kWh)"]
[null,null,null,"Weighted Average","PEPCO MD","BGE","Delmarva","PE"]
[null,null,null,{"$f":"'[1]Maximum Equivalent Offer 0%'!C19","v":"#REF!"},"#REF!","#REF!","#REF!","#REF!"]
[]
[null,"Objective 2:",null,"0% Escalation"]
[null,null,null,"Average Avoidable Rate",null,"Rebate:","without","with"]
[null,null,null,"PPA Rate",null,null,{"$f":"'[1]Maximum Equivalent Offer 0%'!C24","v":"#REF!"},{"$f":"'[1]Maximum Equivalent Offer 0%'!C33","v":"#REF!"}]
[null,null,null,"Achievable % Below Avoidable Rate",null,null,"#REF!","#REF!"]
[null,null,null,"PPA Cost Savings, Lifetime Average ($/yr)",null,null,{"$f":"'[1]Maximum Equivalent Offer 0%'!C31","v":"#REF!"},{"$f":"'[1]Maximum Equivalent Offer 0%'!C40","v":"#REF!"}]
[]
[null,null,null,"3% Escalation"]
[null,null,null,"Average Avoidable Rate",null,"Rebate:","without","with"]
[null,null,null,"PPA Rate",null,null,{"$f":"'[1]Maximum Equivalent Offer 3%'!C24","v":"#REF!"},{"$f":"'[1]Maximum Equivalent Offer 3%'!C33","v":"#REF!"}]
[null,null,null,"Achievable % Below Avoidable Rate",null,null,"#REF!","#REF!"]
[null,null,null,"PPA Cost Savings, Lifetime Average ($/yr)",null,null,{"$f":"'[1]Maximum Equivalent Offer 3%'!C31","v":"#REF!"},{"$f":"'[1]Maximum Equivalent Offer 3%'!C40","v":"#REF!"}]
[]
[null,"Objective 3:",null,"Equivalent Maximum Offers (Average Avoidable Rate) with 0% Escalation"]
[null,null,null,"Offer",null,"Rebate:","without","with"]
[null,null,null,"Solar Lease Payment ($/mo, First Year)",null,null,{"$f":"'[1]Maximum Equivalent Offer 0%'!C52","v":"#REF!"},{"$f":"'[1]Maximum Equivalent Offer 0%'!C62","v":"#REF!"}]
[null,null,null,"Solar Loan Payment ($/mo)",null,null,{"$f":"'[1]Maximum Equivalent Offer 0%'!C55","v":"#REF!"},{"$f":"'[1]Maximum Equivalent Offer 0%'!C65","v":"#REF!"}]
[null,null,null,"Solar Purchase (Max Post-Incentive Cost, $)",null,null,{"$f":"'[1]Maximum Equivalent Offer 0%'!C57","v":"#REF!"},"#REF!"]
[null,null,null,"Equivalent Maximum Offers (Average Avoidable Rate) with 3% Escalation"]
[null,null,null,"Offer",null,"Rebate:","without","with"]
[null,null,null,"Solar Lease Payment ($/mo, First Year)",null,null,{"$f":"'[1]Maximum Equivalent Offer 3%'!C52","v":"#REF!"},{"$f":"'[1]Maximum Equivalent Offer 3%'!C62","v":"#REF!"}]
[null,null,null,"Solar Loan Payment ($/mo)",null,null,{"$f":"'[1]Maximum Equivalent Offer 3%'!C55","v":"#REF!"},{"$f":"'[1]Maximum Equivalent Offer 3%'!C65","v":"#REF!"}]
[null,null,null,"Solar Purchase (Max Post-Incentive Cost, $)",null,null,{"$f":"'[1]Maximum Equivalent Offer 3%'!C57","v":"#REF!"},"#REF!"]
[]
[null,"Methodology"]
[null,"Items in red are adjustable by MEA."]
[null,"Calculating the Avoidable Rate"]
[null,"1. Current utility rates, surcharges, and fees for each of the four major utilities in Maryland were pulled from publicly accessible utility tariffs. Summer and winter rates are blended based on assumed solar production. These rates are updated within the workbook every 6 months."]
[null,"2. The utility rates were used to establish the avoidable rates in the table above."]
[null,"Calculating the % below the avoidable rate that is achievable by a given PPA rate"]
[null,"3. Using a calculated PPA electricity rate applied to a residential customer, the percent of the PPA rate below the avoidable rate was calculated per utility with and without the MEA rebate. The general inputs for the PPA rate (PPA term length, escalator, etc.) are adjustable by MEA in the Financial Inputs and Summary tab."]
[null,"4. The highest PPA rate that could be instituted and still meet the 10% and 20% thresholds below the avoidable rate are calculated for reference on the Financial Inputs and Summary tab."]
[null,"Calculating Typical Household Energy Usage and Solar System Generation"]
[null,"5. The average household energy consumption was collected from NREL's ResStock Data for a single family detached house in Maryland (PV Design and Incentives tab, PVWatts_Data tab). "]
[null,"6. The amount of energy generated from a typical residential solar was collected from NREL's PVWatts tool to estimate daily energy generation.  A 10kW [DC] system was assumed as a baseline PV system size and assumptions were made around system specifications. This information is contained in the PVWatts_Data tab. The size of the PV system is adjustable by MEA in the PV Design and Incentives tab."]
[null,"7. An estimated cost for a typical PV system was developed using market research, and assumptions were made for savings from incentive including tax credits, SRECs, and the MEA rebate. These incentives can be toggled on and off or adjusted by MEA in the PV Design and Incentives tab."]
[null,"8. Using the amount of energy a typical household consumes, their standard utility rate+fees, and the amount of electricity generated from a typical PV system calculated in the previous steps, the customer utility electricity cost + fees with and without the installation of solar system are calculated in the Financial Inputs and Summary tab."]
[null,"Cost Benefit Analysis for PPA, Lease, and Loan Owners"]
[null,"8. Financial metrics are also calculated for the system owner of the PPA using metrics such as payback, NPV, IRR, and annualized ROI. These calculations are also located on the Financial Inputs and Summary tab."]
[null,"Calculating the Equivalent Cases: loan, lease and purchase"]
[null,"9. In order to consider the equivalent case for a loan, three loan scenarios were evaluated by altering the following variables: loan term, loan rate, and dealer fee. These are adjustable by MEA on the Financial Inputs and Summary tab."]
[null,"10. These loan terms are used to calculate expected payments by case with and without the rebate."]
[null,"11. Maximum equivalent offers are calculated for each purchasing scenario (lease, loans, and system purchase), maintaining equal lifetime average cost savings. These are summarized in the table above and in the Maximum Equivalent Offer tab."]
[]
[null,"Description of the Tabs in this Workbook"]
[null,"Utility Rate Inputs : This tab contains the current utility rates for the four major utilities in Maryland. These values will need to be updated regularly by MEA. "]
[null,"Maximum Equivalent Offer : This tab contains full detailed results regarding the maximum equivalent offer by financing mechanism by utility. To update the results of this tab, a new Goal Seek function would need to be run in Excel."]
[null,"Financial Inputs and Summary : This tab contains full detailed results of the financial analysis by utility. See the table above for high-level results. Financial modeling inputs can be updated on this tab."]
[null,"PV Design and Incentives: This tab contains \"average\" PV system capacity and generation specifications based on program requirements, assumed costs, and incentive contributions (tax credits, MEA rebate, SRECs). This tab need only be updated if data is received regarding assumptions that could improve the accuracy of the financial analysis; this can include updated installation costs, more information on the \"average\" installation, or updated incentives/benefits for PV installation."]
[null,"PVWatts_Data: This tab contains PV performance assumptions, production estimates, and a daily net metering analysis from NREL's PVWatts tool (https://pvwatts.nrel.gov/). This tab should not require updates."]
[]
[null,"Tool Rules"]
[null,"Cells in yellow throughout the tool are editable by the user."]
[null,"Cells in white are pre-calculated and should not be changed."]
[null,"Comment notes provide further information about methodology and data sources."]
[]
[]
[]
[]
[]
[]
[null,"Loan and System Purchase Equivalent Rate (No Rebate): Average cost per kWh the customer would need to pay to loan or outright purchase their system over the course of the system's assumed life to meet the minimum MEA requirements."]
[]
[null,"Avoidable Rate: Per kWh rate the customer would pay for electricity if it was not generating solar (varies by utility). This is the baseline for the analysis."]
[]
[]
[]
[]
[]
[null,null,null,null,null,null,null,null,null,null,"$/kWh"]
[null,"PPA Rate (No Rebate): Per kWh rate the customer is paying the owner for the power their residential system is generating."]
[null,"Lease Equivalent Rate (No Rebate): Per kWh cost the customer is paying to lease their system (a calculation of the first month lease payment/first month generation)"]
[]
[]
[]
[null,"PPA Rate (With Rebate): Per kWh rate the customer is paying for the solar their residential system is generating."]
[null,"Lease Equivalent Rate (With Rebate): Per kWh cost the customer is paying to lease their system (a calculation of the first month lease payment/first month generation)"]
[]
[null,"Loan and System Purchase Equivalent Rate (With Rebate):  Average cost per kWh the customer is paying to loan or outright purchase their system over the course of the system's assumed life."]

{"sheet":"Lease","index":1,"n_rows":32,"n_cols":11,"rows_kept":32,"cut":false,"hidden":false,"merged":[[21,0,22,0],[21,1,22,2],[29,6,29,7]]}
[null,"Maximum-Equivalent Offer Calculator: Lease"]
[null,"Gray Cells: Static values, not to be edited.\nYellow Cells: Input values.\nBlue Cells: Output values.",null,null,null,"Year","PPA Cost [$/yr]","Lease Cost [$/yr]",null,"Avg. System Production [kWh/mo]","PPA Rates [$/kWh]"]
[null,"Static Assumed Values",null,null,null,0.0]
[1.0,"System Owner NPV Discount Rate [%]",0.0475,null,null,{"$f":"IF(F3>=$C$6,\"\",F3+1)","v":1},{"$f":"K4*J4*12","v":1764},{"$f":"C20*12","v":1671.193764},null,{"$f":"C12/12","v":1166.666667},{"$f":"C11","v":0.126}]
[2.0,"Annual Degradation Rate [%]",0.005,null,null,2,{"$f":"IF($F5<>\"\",J5*K5*12,\"\")","v":1807.8354},{"$f":"IF($F5<>\"\",H4*(1+$C$16),\"\")","v":1721.162458},null,{"$f":"IF($F5<>\"\",J4*(1-$C$5),\"\")","v":1160.833333},{"$f":"IF($F5<>\"\",K4*(1+$C$7),\"\")","v":0.12978}]
[3.0,"Lease Term, Expected System Lifespan (25-Year Maximum) [yrs]",25.0,null,null,3,1852.76011,1772.625215,null,1155.029167,0.1336734]
[4.0,"PPA Escalator [%/yr]",0.03,null,null,4,1898.801198,1825.626709,null,1149.254021,0.137683602]
[null,null,null,null,null,5,1945.986408,1880.212948,null,1143.507751,0.1418141101]
[null,"Lease Inputs",null,null,null,6,1994.34417,1936.431315,null,1137.790212,0.1460685334]
[5.0,"Customer Utility Service Territory","BGE",{"$f":"IF(C10=\"Other\",\"Input Custom Utility Electric Rate Below ($/kWh)\",\"\")","v":""},null,7,2043.903623,1994.330611,null,1132.101261,0.1504505894]
[6.0,"Maximum-Offer: First Year Lease Rate with escalator [$/kWh]",{"$f":"IFERROR(IF(C10=\"Other\",(D11-D11*0.3),VLOOKUP(C10,Inputs!A7:D20,4,FALSE)),0)","v":0.126},null,null,8,2094.694628,2053.961097,null,1126.440755,0.154964107]
[7.0,"First-Year Projected Total PV Generation [kWh/yr]",14000.0,null,null,9,2146.74779,2115.374533,null,1120.808551,0.1596130303]
[8.0,"The MEA grant is authorized to the contractor, in addition to\nother federal and state incentives, allowing the contractor to\nprovide a discounted lease rate to the resident","Yes",null,null,10,2200.094472,2178.624232,null,1115.204508,0.1644014212]
[9.0,"Total System Cost (as appears on the contract or disclosure) [$]",47000.0,null,null,11,2254.76682,2243.765097,null,1109.628486,0.1693334638]
[10.0,"Non-solar costs incorporated into the lease rate (enter $0 if\nlease rate is reflective of solar-related costs only)",5000.0,null,null,12,2310.797775,2310.853673,null,1104.080343,0.1744134677]
[11.0,"Lease Escalator [%/yr]",0.0299,null,null,13,2368.2211,2379.948198,null,1098.559941,0.1796458717]
[12.0,"First-year monthly lease rate (as appears on the contract)",155.75,null,null,14,2427.071394,2451.108649,null,1093.067142,0.1850352479]
[null,null,null,null,null,15,2487.384118,2524.396797,null,1087.601806,0.1905863053]
[13.0,"First-year monthly lease rate subject to MEA’s minimum benefits policy (for\ncomparison with Maximum Offer) [$/mo]",{"$f":"(C14-C15)/C14*C17","v":139.1808511},null,null,16,2549.195614,2599.876262,null,1082.163797,0.1963038945]
[14.0,"Maximum Offer: First-Month Lease Payment subject to MEA's policy [$/mo]",{"$f":"(NPV(C4,G4:G28)*(C4-C16)/(1-(1+C16)^C6*(1+C4)^-C6)/12)","v":139.266147},null,null,17,2612.543125,2677.612562,null,1076.752978,0.2021930113]
[null,null,null,null,null,18,2677.464821,2757.673178,null,1071.369213,0.2082588017]
[15.0,{"$f":"IF(C19<=C20,Inputs!A24,Inputs!A25)","v":"The system design meets MEA program requirements."},null,null,null,19,2743.999822,2840.127606,null,1066.012367,0.2145065657]
[null,null,null,null,null,20,2812.188218,2925.047421,null,1060.682305,0.2209417627]
[null,null,null,null,null,21,2882.071095,3012.506339,null,1055.378894,0.2275700156]
[null,null,null,null,null,22,2953.690562,3102.580278,null,1050.101999,0.234397116]
[null,null,null,null,null,23,3027.089772,3195.347429,null,1044.851489,0.2414290295]
[null,null,null,null,null,24,3102.312953,3290.888317,null,1039.627232,0.2486719004]
[null,null,null,null,null,25,3179.40543,3389.285877,null,1034.429096,0.2561320574]
[]
[null,null,null,null,null,null,"Net Present Value \n(Cost to Customer)"]
[null,null,null,null,null,null,"PPA","Lease"]
[null,null,null,null,null,null,{"$f":"NPV(C4,G3:G28)","v":32790.06955},{"$f":"NPV(C4,H3:H28)","v":32790.06955}]

{"sheet":"PPA","index":2,"n_rows":47,"n_cols":10,"rows_kept":47,"cut":false,"hidden":false,"merged":[[20,0,21,0],[20,1,21,2],[29,5,29,6],[30,5,30,6],[31,5,31,6]]}
[null,"Maximum-Equivalent Offer Calculator: PPA"]
[null,"Gray Cells: Static values, not to be edited.\nYellow Cells: Input values.\nBlue Cells: Output values.",null,null,null,"Year","PPA Cost [$/yr]",null,"Avg. System Production [kWh/mo]","PPA Rates [$/kWh]"]
[null,"Static Assumed Values",null,null,null,0.0]
[1.0,"System Owner NPV Discount Rate [%]",0.0475,null,null,{"$f":"IF(F3>=$C$6,\"\",F3+1)","v":1},{"$f":"J4*I4*12","v":1589.7168},null,{"$f":"C12/12","v":876.1666667},{"$f":"C11","v":0.1512}]
[2.0,"System Annual Degradation Rate [%]",0.005,null,null,2,{"$f":"IF($F5<>\"\",I5*J5*12,\"\")","v":1629.221262},null,{"$f":"IF($F5<>\"\",I4*(1-$C$5),\"\")","v":871.7858333},{"$f":"IF($F5<>\"\",J4*(1+$C$7),\"\")","v":0.155736}]
[3.0,"PPA and Lease Term, Expected System Lifespan (25-Year Maximum) [yrs]",25.0,null,null,3,1669.707411,null,867.4269042,0.16040808]
[4.0,"PPA Escalator [%/yr]",0.03,null,null,4,1711.19964,null,863.0897696,0.1652203224]
[null,null,null,null,null,5,1753.722951,null,858.7743208,0.1701769321]
[null,"PPA Inputs",null,null,null,6,1797.302966,null,854.4804492,0.17528224]
[5.0,"Customer Utility Service Territory","Pepco",{"$f":"IF(C10=\"Other\",\"Input Custom Utility Electric Rate Below ($/kWh)\",\"\")","v":""},null,7,1841.965945,null,850.2080469,0.1805407072]
[6.0,"Maximum-Offer: First Year PPA Rate with escalator [$/kWh]",{"$f":"IFERROR(IF(C10=\"Other\",(D11-D11*0.3),VLOOKUP(C10,Inputs!A7:D20,4,FALSE)),0)","v":0.1512},null,null,8,1887.738799,null,845.9570067,0.1859569285]
[7.0,"First-Year Projected Total PV Generation [kWh/yr]",10514.0,null,null,9,1934.649108,null,841.7272217,0.1915356363]
[8.0,"The MEA grant is authorized to the contractor, in addition to\nother federal and state incentives, allowing the contractor to\nprovide a discounted PPA rate to the resident","Yes",null,null,10,1982.725138,null,837.5185856,0.1972817054]
[9.0,"PPA rate (as appears on the contract) [$/kWh]",0.156,null,null,11,2031.995858,null,833.3309926,0.2032001566]
[10.0,"Total System Cost (as appears on the contract or disclosure) [$]",55617.12,null,null,12,2082.490955,null,829.1643377,0.2092961613]
[11.0,"Non-solar costs incorporated into the PPA rate (enter $0 if\nPPA rate is reflective of solar-related costs only) [$]",5000.0,null,null,13,2134.240855,null,825.018516,0.2155750461]
[null,null,null,null,null,14,2187.276741,null,820.8934234,0.2220422975]
[12.0,"PPA rate subject to MEA’s minimum benefits policy (for\ncomparison with Maximum Offer) [$/kWh]",{"$f":"(C15-C16)/C15*C14","v":0.1419755413},null,null,15,2241.630568,null,816.7889563,0.2287035664]
[13.0,"Maximum Offer: First-Year PPA Rate subject to MEA's policy [$/kWh]",{"$f":"IF(C10=\"Other\",(D11-D11*0.3),(VLOOKUP(C10,Inputs!A7:D20,4,FALSE)))","v":0.1512},null,null,16,2297.335087,null,812.7050115,0.2355646734]
[null,null,null,null,null,17,2354.423864,null,808.6414865,0.2426316136]
[14.0,{"$f":"IF(C18<=C19,Inputs!A24,Inputs!A25)","v":"The system design meets MEA program requirements."},null,null,null,18,2412.931297,null,804.598279,0.249910562]
[null,null,null,null,null,19,2472.89264,null,800.5752876,0.2574078789]
[null,null,null,null,null,20,2534.344022,null,796.5724112,0.2651301152]
[null,null,null,null,null,21,2597.322471,null,792.5895491,0.2730840187]
[null,null,null,null,null,22,2661.865934,null,788.6266014,0.2812765392]
[null,null,null,null,null,23,2728.013303,null,784.6834684,0.2897148354]
[null,null,null,null,null,24,2795.804433,null,780.760051,0.2984062805]
[null,null,null,null,null,25,2865.280174,null,776.8562508,0.3073584689]
[]
[null,null,null,null,null,"Net Present Value \n(Cost to Customer)"]
[null,null,null,null,null,"PPA"]
[null,null,null,null,null,{"$f":"NPV(C4,G3:G28)","v":29550.41067}]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,"Output message of \"This does not xyz\""]

{"sheet":"Loan","index":3,"n_rows":32,"n_cols":11,"rows_kept":32,"cut":false,"hidden":false,"merged":[[23,0,24,0],[23,1,24,2],[29,6,29,7]]}
[null,"Maximum-Equivalent Offer Calculator: Loan"]
[null,"Gray Cells: Static values, not to be edited.\nYellow Cells: Input values.\nBlue Cells: Output values.",null,null,null,"Year","PPA Cost [$/yr]","Loan Cost [$/yr]",null,"Avg. System Production [kWh/mo]","PPA Rates [$/kWh]"]
[null,"Static Assumed Values",null,null,null,0.0]
[1.0,"System Owner NPV Discount Rate [%]",0.0475,null,null,{"$f":"IF(F3>=$C$6,\"\",F3+1)","v":1},{"$f":"K4*J4*12","v":2297.125467},{"$f":"((NPV(C4,G4:G28)*C4)/(1-(1+C4)^-C13))","v":3354.109575},null,{"$f":"C12/12","v":2240.25},{"$f":"C11","v":0.085449}]
[2.0,"Annual Degradation Rate [%]",0.005,null,null,2,{"$f":"IF($F5<>\"\",J5*K5*12,\"\")","v":2354.209035},{"$f":"IF($F5<=$C$13,H4,\"\")","v":3354.109575},null,{"$f":"IF($F5<>\"\",J4*(1-$C$5),\"\")","v":2229.04875},{"$f":"IF($F5<>\"\",K4*(1+$C$7),\"\")","v":0.08801247}]
[3.0,"Loan Term, Expected System Lifespan (25-Year Maximum) [yrs]",25.0,null,null,3,2412.711129,3354.109575,null,2217.903506,0.0906528441]
[4.0,"PPA Escalator [%/yr]",0.03,null,null,4,2472.667001,3354.109575,null,2206.813989,0.09337242942]
[null,null,null,null,null,5,2534.112776,3354.109575,null,2195.779919,0.09617360231]
[null,"Loan Inputs",null,null,null,6,2597.085478,3354.109575,null,2184.801019,0.09905881037]
[5.0,"Customer Utility Service Territory","Southern Maryland Electric Cooperative, Inc.",{"$f":"IF(C10=\"Other\",\"Input Custom Utility Electric Rate Below ($/kWh)\",\"\")","v":""},null,7,2661.623053,3354.109575,null,2173.877014,0.1020305747]
[6.0,"Maximum-Offer: First Year Loan Rate with escalator [$/kWh]",{"$f":"IFERROR(IF(C10=\"Other\",(D11-D11*0.3),VLOOKUP(C10,Inputs!A7:D20,4,FALSE)),0)","v":0.085449},null,null,8,2727.764385,3354.109575,null,2163.007629,0.1050914919]
[7.0,"First-Year Projected Total PV Generation [kWh/yr]",26883.0,null,null,9,2795.54933,3354.109575,null,2152.192591,0.1082442367]
[8.0,"Loan Term (25-Year Maximum) [yrs]",20.0,null,null,10,2865.018731,3354.109575,null,2141.431628,0.1114915638]
[9.0,"Loan Interest Rate (as appears on the contract) [%]",0.1199,null,null,11,2936.214447,3354.109575,null,2130.72447,0.1148363107]
[10.0,"Total System Cost (as appears on the contract) [$]",72994.0,null,null,12,3009.179376,3354.109575,null,2120.070847,0.1182814]
[11.0,"Non-solar costs (enter $0 if all costs are solar-related) [$]",4957.0,null,null,13,3083.957483,3354.109575,null,2109.470493,0.121829842]
[12.0,"MEA grant amount to the resident (enter $0 if the grant is authorized to the contractor instead) [$]",0.0,null,null,14,3160.593827,3354.109575,null,2098.923141,0.1254847373]
[13.0,"Federal Tax Credit amount to the resident (enter $0 if the customer has not indicated a willingness to file for the federal ITC. Also enter $0 if the customer has indicated that they do not expect to have the tax liability to benefit from it) [$]",18633.0,null,null,15,3239.134583,3354.109575,null,2088.428525,0.1292492794]
[null,null,null,null,null,16,3319.627078,3354.109575,null,2077.986382,0.1331267578]
[14.0,"Total Loan Principal subject to MEA’s minimum benefits policy (for comparison with Maximum Offer) [$]",{"$f":"C15-C16-C17-C18","v":49404},null,null,17,3402.11981,3354.109575,null,2067.59645,0.1371205605]
[15.0,"Maximum Offer: Loan Principal subject to MEA's policy [$]",{"$f":"\nPV(C14/12,C13*12,-C22,0,0)","v":25400.93726},null,null,18,3486.662488,3354.109575,null,2057.258468,0.1412341773]
[16.0,"Maximum Offer: Loan Payment subject to MEA's policy [$/mo]",{"$f":"((NPV(C4,G4:G28)*C4)/(1-(1+C4)^-C13)/12)","v":279.5091313},null,null,19,3573.306051,3354.109575,null,2046.972176,0.1454712026]
[null,null,null,null,null,20,3662.102706,3354.109575,null,2036.737315,0.1498353387]
[17.0,{"$f":"IF(C20<=C21,Inputs!A24,Inputs!A25)","v":"The system design does not meet MEA program requirements."},null,null,null,21,3753.105958,"",null,2026.553628,0.1543303989]
[null,null,null,null,null,22,3846.370641,"",null,2016.42086,0.1589603109]
[null,null,null,null,null,23,3941.952952,"",null,2006.338756,0.1637291202]
[null,null,null,null,null,24,4039.910483,"",null,1996.307062,0.1686409938]
[null,null,null,null,null,25,4140.302258,"",null,1986.325527,0.1737002236]
[]
[null,null,null,null,null,null,"Net Present Value \n(Cost to Customer)"]
[null,null,null,null,null,null,"PPA","Loan"]
[null,null,null,null,null,null,{"$f":"NPV(C4,G3:G28)","v":42700.05885},{"$f":"NPV(C4,H3:H28)","v":42700.05885}]

{"sheet":"System Purchase","index":4,"n_rows":32,"n_cols":10,"rows_kept":32,"cut":false,"hidden":false,"merged":[[20,0,21,0],[20,1,21,2],[23,0,24,0],[29,5,29,6],[30,5,30,6],[31,5,31,6]]}
[null,"Maximum-Equivalent Offer Calculator: System Purchase"]
[null,"Gray Cells: Static values, not to be edited.\nYellow Cells: Input values.\nBlue Cells: Output values.",null,null,null,"Year","PPA Cost [$/yr]",null,"Avg. System Production [kWh/mo]","PPA Rates [$/kWh]"]
[null,"Static Assumed Values",null,null,null,0.0]
[1.0,"System Owner NPV Discount Rate [%]",0.0475,null,null,{"$f":"IF(F3>=$C$6,\"\",F3+1)","v":1},{"$f":"J4*I4*12","v":1680.1344},null,{"$f":"C12/12","v":926},{"$f":"C11","v":0.1512}]
[2.0,"Annual Degradation Rate [%]",0.005,null,null,2,{"$f":"IF($F5<>\"\",I5*J5*12,\"\")","v":1721.88574},null,{"$f":"IF($F5<>\"\",I4*(1-$C$5),\"\")","v":921.37},{"$f":"IF($F5<>\"\",J4*(1+$C$7),\"\")","v":0.155736}]
[3.0,"Expected System Lifespan (25-Year Maximum) [yrs]",25.0,null,null,3,1764.6746,null,916.76315,0.16040808]
[4.0,"PPA Escalator [%/yr]",0.03,null,null,4,1808.526764,null,912.1793343,0.1652203224]
[null,null,null,null,null,5,1853.468654,null,907.6184376,0.1701769321]
[null,"System Purchase Inputs",null,null,null,6,1899.52735,null,903.0803454,0.17528224]
[5.0,"Customer Utility Service Territory","Pepco",{"$f":"IF(C10=\"Other\",\"Input Custom Utility Electric Rate Below ($/kWh)\",\"\")","v":""},null,7,1946.730605,null,898.5649437,0.1805407072]
[6.0,"Maximum-Offer: First Year PPA Rate with escalator [$/kWh]",{"$f":"IFERROR(IF(C10=\"Other\",(D11-D11*0.3),VLOOKUP(C10,Inputs!A7:D20,4,FALSE)),0)","v":0.1512},null,null,8,1995.106861,null,894.0721189,0.1859569285]
[7.0,"First-Year Projected Total PV Generation [kWh/yr]",11112.0,null,null,9,2044.685266,null,889.6017584,0.1915356363]
[8.0,"Total System Cost (as appears on the contract, or internally valued) [$]",40000.0,null,null,10,2095.495695,null,885.1537496,0.1972817054]
[9.0,"Non-solar costs (enter $0 if all costs are solar-related) [$]",5000.0,null,null,11,2147.568763,null,880.7279808,0.2032001566]
[10.0,"MEA grant amount to the resident (enter $0 if the\ngrant is authorized to the contractor instead) [$]",5500.0,null,null,12,2200.935847,null,876.3243409,0.2092961613]
[11.0,"Federal Tax Credit amount to the resident (enter $0 if the customer has not indicated a willingness to file for the federal ITC. Also enter $0 if the customer has indicated that they do not expect to have the tax liability to benefit from it) [$]",11667.0,null,null,13,2255.629103,null,871.9427192,0.2155750461]
[null,null,null,null,null,14,2311.681486,null,867.5830056,0.2220422975]
[13.0,"Total Cost subject to MEA’s minimum benefits policy (for comparison with Maximum Offer) [$]",{"$f":"C13-C14-C15-C16","v":17833},null,null,15,2369.126771,null,863.2450906,0.2287035664]
[14.0,"Maximum Offer: System Purchase Cost subject to MEA's policy [$]",{"$f":"F32","v":31231.13595},null,null,16,2427.999571,null,858.9288651,0.2355646734]
[null,null,null,null,null,17,2488.33536,null,854.6342208,0.2426316136]
[15.0,{"$f":"IF(C18<=C19,Inputs!A24,Inputs!A25)","v":"The system design meets MEA program requirements."},null,null,null,18,2550.170494,null,850.3610497,0.249910562]
[null,null,null,null,null,19,2613.542231,null,846.1092444,0.2574078789]
[null,null,null,null,null,20,2678.488755,null,841.8786982,0.2651301152]
[null,null,null,null,null,21,2745.049201,null,837.6693047,0.2730840187]
[null,null,null,null,null,22,2813.263673,null,833.4809582,0.2812765392]
[null,null,null,null,null,23,2883.173276,null,829.3135534,0.2897148354]
[null,null,null,null,null,24,2954.820132,null,825.1669857,0.2984062805]
[null,null,null,null,null,25,3028.247412,null,821.0411507,0.3073584689]
[]
[null,null,null,null,null,"Net Present Value \n(Cost to Customer)"]
[null,null,null,null,null,"PPA / System Purchase"]
[null,null,null,null,null,{"$f":"NPV(C4,G3:G28)","v":31231.13595}]

{"sheet":"Reference Values","index":5,"n_rows":14,"n_cols":5,"rows_kept":14,"cut":false,"hidden":false,"merged":[]}
[null,"Current Avoidable Rate ($/kWh)","Maximum Offer: first year PPA rate\nwithout PPA escalator ($/kWh) ","Maximum Offer: first year PPA rate\nwith PPA escalator ($/kWh) ","Source"]
["Pepco",0.216,{"$f":"B2-B2*0.2","v":0.1728},{"$f":"B2-B2*0.3","v":0.1512},"Previous Calculator"]
["BGE",0.18,0.144,0.126,"Previous Calculator"]
["Demarva Power",0.21,0.168,0.147,"Previous Calculator"]
["Potomac Edison",0.141,0.1128,0.0987,"Previous Calculator"]
["Southern Maryland Electric Cooperative, Inc.",0.11708,0.093664,0.081956,"SCHEDULE R - RESIDENTIAL SERVICE"]
["Berlin Municipal Elctric Plant",0.09905,0.07924,0.069335,"Microsoft Word - Berlin Electric Service Tariff No 11 FINAL"]
["Easton Utilities Commission",0.1338,0.10704,0.09366,"electric-tariff.pdf"]
["City of Hagerstown Light Department",0.08161,0.065288,0.057127,"New HLD Tariff2 version for PSC (D0009799.DOC;1)"]
["Thurmont Municipal Light Company",0.10883,0.087064,0.076181,"Thurmont Electric Service Tariff - Thurmont Draft 2"]
["Williamsport Municipal Electric Light System",0.1236991547,0.09895932376,0.08658940829,"Utilities - Town of Williamsport"]
["A&N Electric Cooperative",0.85725,0.6858,0.600075,"ANEC-A-1-Residential.pdf"]
["Choptank Electric Cooperative Inc",0.13876000000000002,0.111008,0.097132,"Microsoft Word - 03.01.2025 Choptank Electric Tariff and Terms and Conditions"]
["Somerset Rural Electric Cooperative",0.12206999999999998,0.097656,0.085449,"Current Rates | Somerset Rural Electric Cooperative, Inc"]

{"sheet":"Inputs","index":6,"n_rows":25,"n_cols":4,"rows_kept":25,"cut":false,"hidden":true,"merged":[]}
[]
["Dropdown Lists"]
["Yes"]
["No"]
[]
["Utility Service Territory","Avoidable Rate ($/kWh)","Maximum Offer: first year PPA rate ($/kWh) (No Escalator)","Maximum Offer: first year PPA rate ($/kWh) (Escalator)"]
["Pepco",{"$f":"'Reference Values'!B2","v":0.216},{"$f":"'Reference Values'!C2","v":0.1728},{"$f":"'Reference Values'!D2","v":0.1512}]
["BGE",{"$f":"'Reference Values'!B3","v":0.18},{"$f":"'Reference Values'!C3","v":0.144},{"$f":"'Reference Values'!D3","v":0.126}]
["Delmarva Power",{"$f":"'Reference Values'!B4","v":0.21},{"$f":"'Reference Values'!C4","v":0.168},{"$f":"'Reference Values'!D4","v":0.147}]
["Potomac Edison",{"$f":"'Reference Values'!B5","v":0.141},{"$f":"'Reference Values'!C5","v":0.1128},{"$f":"'Reference Values'!D5","v":0.0987}]
["Berlin Municipal Electric Plant",{"$f":"'Reference Values'!B6","v":0.11708},{"$f":"'Reference Values'!C6","v":0.093664},{"$f":"'Reference Values'!D6","v":0.081956}]
["Easton Utilities Commission",{"$f":"'Reference Values'!B7","v":0.09905},{"$f":"'Reference Values'!C7","v":0.07924},{"$f":"'Reference Values'!D7","v":0.069335}]
["City of Hagerstown Light Department",{"$f":"'Reference Values'!B8","v":0.1338},{"$f":"'Reference Values'!C8","v":0.10704},{"$f":"'Reference Values'!D8","v":0.09366}]
["Thurmont Municipal Light Company",{"$f":"'Reference Values'!B9","v":0.08161},{"$f":"'Reference Values'!C9","v":0.065288},{"$f":"'Reference Values'!D9","v":0.057127}]
["Williamsport Municipal Electric Light System",{"$f":"'Reference Values'!B10","v":0.10883},{"$f":"'Reference Values'!C10","v":0.087064},{"$f":"'Reference Values'!D10","v":0.076181}]
["A&N Electric Cooperative",{"$f":"'Reference Values'!B11","v":0.1236991547},{"$f":"'Reference Values'!C11","v":0.09895932376},{"$f":"'Reference Values'!D11","v":0.08658940829}]
["Choptank Electric Cooperative Inc",{"$f":"'Reference Values'!B12","v":0.85725},{"$f":"'Reference Values'!C12","v":0.6858},{"$f":"'Reference Values'!D12","v":0.600075}]
["Somerset Rural Electric Cooperative",{"$f":"'Reference Values'!B13","v":0.13876},{"$f":"'Reference Values'!C13","v":0.111008},{"$f":"'Reference Values'!D13","v":0.097132}]
["Southern Maryland Electric Cooperative, Inc.",{"$f":"'Reference Values'!B14","v":0.12207},{"$f":"'Reference Values'!C14","v":0.097656},{"$f":"'Reference Values'!D14","v":0.085449}]
["Other",{"$f":"'Reference Values'!B15","v":""},{"$f":"'Reference Values'!C15","v":""},{"$f":"'Reference Values'!D15","v":""}]
[]
[]
["System Compliance Messages"]
["The system design meets MEA program requirements."]
["The system design does not meet MEA program requirements."]