Economic Evaluation Type
When you configuring wind farm budget estimation and power sales parameters:
- Associate budget estimation scheme: Select associated budget estimation scheme. Its information such as cost, power production hours, capacity is automatically synchronized. Both designed and customized budget estimations are supported. The result can be applied directly in automatic generation of feasibility study report.
- Customize budge estimation parameters and wind farm parameters: Directly input the estimated cost, power production hours, capacity.
The regulations to set up economic evaluation parameters are listed in the following table:
| Economic Evaluation Parameter | Parameter Setup Principle | Wind Farm Project Economic Evaluation Standards 2016 |
Parameter Setup Recommendation (If the project has special requirements, it is recommended to fill in the parameters based on the actual condition) |
|
|---|---|---|---|---|
| Interface Parameter | Benchmark on-grid wind power price (RMB/kWh) | Benchmark on-grid power price published by the nation | Fill it in based on the project condition | |
| New energy subsidy power price (RMB/kWh) | New energy subsidy = benchmark on-grid power price - local benchmark coal fuel power price of current year | Fill it in based on the project condition | ||
| New energy subsidy deferral time | New energy subsidy deferral time | Fill it in based on the project condition | ||
| Other subsidy power price | Outgoing self-built power price subsidy and other subsidies | Fill it in based on the project condition | ||
| Other subsidy deferral time | Other subsidy deferral time | Fill it in based on the project condition | ||
| Power consumption time range of corporate user | Set it up based on the power price time range purchased by corporation | Refer to the peak, valley, and flat time range of local great industry power consumption | ||
| Power price of sale & consumption enterprises | Refer to the current power sales price of enterprise and give a discount | Refer to the power price discount defined by enterprise, and the discount can be set as 95% | ||
| Ratio of wind power sales |
Sold to enterprise user: Calculate the ratio of enterprise user according to enterprise power load and power production. Sold to grid: Generally, the redundant power other than that sold to enterprise user can be delivered to grid. |
Fill it in based on the project condition | ||
| No. of shareholders | Fill it in based on the project financing scheme | Fill it in based on the project condition | ||
| Ratio of shareholding (%) | Fill it in based on the project condition | |||
| Ratio of investment (%) | Fill it in based on the project condition | |||
| Basic Parameter | Reference template | Select the appropriate template according to the project condition | ||
| Construction period (year) | For capacity within 100 MW, generally set the construction period as one year. For distributed wind farm with small capacity, consider set it as 0.5 year. The parameter should be consistent with the construction period defined in construction organization design. | 1-2 | ||
| Operation period (year) | By default, set 20 years for onshore wind farm and 25 years for offshore wind farm | 20 | 20 | |
| Construction period investment ratio (%) | Fill it in based on the project condition | |||
| Financing channel | Configure it according to financing channel representing long-term loan type | 1 | 1 | |
| Registered equity ratio in total investment (%) | >=20 | 20 | ||
| Long-term loan rate (%) | Confirm based on enterprise actual financing condition | 4.9 | ||
| Loan term (year) | 15 | |||
| Repayment method | Average capital plus interest | |||
| Loan grace period | Generally it is equal to construction period | 2 | ||
| Loan ratio | Various long-term loan ratio in total long-term loan sum | 100% | ||
| Liquidity (RMB/kW) | 30-50 | 30 | ||
| Liquidity ratio in capital (%) | 30 | |||
| Loan rate of liquidity (%) | 4.75 | |||
| Short-term loan rate (%) | 4.75 | |||
| Equity base return rate (%) | 8 | 8 | ||
| Total investment base return rate (%) | 5 | 5 | ||
| Revenue and Tax | Power production coefficient | Modify it according to actual output. | 100 | |
| Power price discount coefficient | Future power price prediction | 100 | ||
| VAT deduction ratio of mechanical facilities (%) | 12 | |||
| Deduction ratio of maintenance cost input tax (%) | 11.2 | |||
| City maintenance & construction tax (%) | Downtown 7%, county or town 5%, others 1% | 5 | ||
| Surtax of education expenses (%) | 5 | |||
| Income tax (%) | Define it according to the national policy and local, industrial, or enterprise preferential policies. | 25 | ||
| VAT (%) | 16 | |||
| Freed or halved income tax | Yes | |||
| Halved VAT | Yes | |||
| Operational Cost | Depreciation method | Linear depreciation | ||
| Depreciation period (year) | 12-18 | 15 | ||
| Residue rate (%) | 5 | 5 | ||
| Intangible assets | 0 | |||
| Other assets | 0 | |||
| Amortization period | 10 | |||
| Repair expense rate (%) in first five years | Define it according to turbine operation experience | Define it as 0.5 within the guarantee period, and increase into at most 2% by stage each of which consists 5-10 years. | 0.5 | |
| Repair expense rate (%) in the 6th - 9th years | 1 | |||
| Repair expense rate (%) in 10th - 14th years | 1.5 | |||
| Repair expense rate (%) in 15th - 20th years | 2 | |||
| Fixed number of employees (person) | Define it according to actual operation situation. Input 5 persons for each 50 MW, and increase 2 persons for each additional 50 MW | 5 | ||
| Annual average salary 10k RMB/person/year | Define it according to the local salary level and that of the owner's unit or company | 10 | ||
| Welfare expense rate (%) | 62.6 | |||
| Annual land rent | Configure this parameter when you need to pay land rent by year during operation period | |||
| Constant annual extra expense | 0 | |||
| Premium rate |
Adopt the premium rate negotiated with insurance company by onshore wind farm. When it is not specified, define it as 0.25% - 0.35%. For offshore wind farm, define it as 0.35% - 0.60%. |
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| Material expense (RMB/kW) | 10-20 | 15 | ||
| Dismantling expense (RMB/kW) | 10 | |||
| Other expenses (RMB/kW) | 20-30 | 25 | ||