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[null,null,null,"Add: Incentive Payments","USD",null,null,null,{"$f":"I35","v":0},{"$f":"J35","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,null,"Net Cash Flow","USD",null,null,null,{"$f":"SUM(I46:I49)","v":-17834974.315068487},{"$f":"SUM(J46:J49)","v":1507561.4230469635},1479364.3286548401,1450603.2923748745,1421267.0353693094,1391344.053223633,1360822.6114350432,1329690.7408106814,1297936.232773832,1265546.6345762464,1232509.2444147088,1198811.1064499405,1164439.0057258767,1129379.4629873317,1093618.7293940159,1057142.7811288333,1019937.3138983476,981987.73732325155,943279.16921665426,903796.42974792467,863524.03548982018,822446.19334655395,780546.79436042253,737809.4073945689,694217.27268939698,649753.29529012321,604400.03834286286,558139.71625665762,510954.1877287277,462824.94863024028,413733.12474978203,363659.46439171536,312584.33082648646,260487.6945899534,207349.12562869024,153147.78528820118,97862.41814090265,41471.343650658149,-16047.552329391241,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"IRR","%",{"$f":"IRR(I51:BJ51)","v":4.9999999999999378E-2}]

{"sheet":"Examples of Total CO2","index":4,"n_rows":8,"n_cols":19,"rows_kept":8,"cut":false,"hidden":false,"merged":[]}
[]
[null,null,null,null,null,null,null,"kg/km","kWh/km",null,"Total Km","Total kWh","Total kg","IC Engine g/km","CO2 kg/H2 kg","NG g CO2/kWh","Coal gNG/kWh","Coal Weight","Total CO2 g"]
[null,null,null,"Battery Car from NG Electricity",null,null,null,null,0.15,null,25000,{"$f":"K3*I3","v":3750},null,null,null,{"$f":"499","v":499},888,0.5,{"$f":"(R3*(Q3)+(1-R3)*P3)*L3","v":2600625}]
[null,null,null,"Hydrogen Car from Grey Hydrogen",null,null,null,8.0000000000000002E-3,null,null,25000,null,{"$f":"H4*K4","v":200},null,{"$f":"8910","v":8910},null,null,null,{"$f":"M4*O4","v":1782000}]
[null,null,null,"Hydrogen Car from Blue Hydrogen",null,null,null,8.0000000000000002E-3,null,null,25000,null,{"$f":"H5*K5","v":200},null,{"$f":"O4*0.1","v":891},null,null,null,{"$f":"M5*O5","v":178200}]
[null,null,null,"Hydrogen Car from Green Hydrogen",null,null,null,8.0000000000000002E-3,null,null,25000,null,{"$f":"H6*K6","v":200},null,0,null,null,null,{"$f":"M6*O6","v":0}]
[null,null,null,"Gasoline Engine",null,null,null,null,null,null,25000,null,null,192,null,null,null,null,{"$f":"N7*K7","v":4800000}]
[null,null,null,"Diesel Engine",null,null,null,null,null,null,25000,null,null,172,null,null,null,null,{"$f":"N8*K8","v":4300000}]

{"sheet":"Storage of H2 and kWh","index":5,"n_rows":91,"n_cols":33,"rows_kept":91,"cut":false,"hidden":false,"merged":[]}
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Day"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"kgh Required",null,2739.7260273972602]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"kWh/kg",null,{"$f":"'Simple Analysis'!F7","v":52.078124999999993},null,null,null,null,null,null,null,null,null,null,null,null,100]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"kWh per Day ",null,{"$f":"R4*R5","v":142679.79452054793},null,null,null,null,null,null,null,null,null,null,null,null,6]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"AE5*AE6","v":600}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Electrolyzer kWh",null,{"$f":"R6*2","v":285359.58904109587},null,null,null,null,null,null,null,null,null,null,null,null,450]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Renewable Energy",null,0.5,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"AE8*AE7","v":270000}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Storage kWh",null,{"$f":"R8*R9","v":142679.79452054793}]
[null,null,"LCOE",25,null,"Cost/kW",1000,null,null,"Capacity Stored - kg",null,null,{"$f":"H21/M12","v":120.01200120012003}]
[null,null,null,null,null,"Efficiency",0.64,null,null,"Energy Conversion - kWh/kg",null,null,33.33,null,null,"Hours Stored",null,12,null,null,null,null,null,null,null,null,null,null,null,null,33.33]
[null,null,null,null,null,"LCOH",null,null,null,"Energy Stored",null,null,{"$f":"M11*M12","v":4000.0000000000005},null,null,"Energy Stored - kWh",null,{"$f":"R12*R10","v":1712157.5342465751},null,null,null,null,null,null,null,null,null,null,null,null,0.62]
[null,null,null,null,null,null,null,null,null,"Cost/kg",null,null,1000,null,null,"Cost/kWh",null,450,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"AE12/AE13","v":53.758064516129032}]
[null,null,null,null,null,null,null,null,null,"Total Capital Cost",null,null,{"$f":"M14*M11","v":120012.00120012002},null,null,"Total Cost",null,{"$f":"R13*R14","v":770470890.41095877}]
[null,null,null,null,null,null,null,null,null,"Life",null,null,20,null,null,"Life",null,10,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"AE7/AE14","v":11.161116111611161}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Discount Rate",null,0.05,null,null,null,null,null,null,null,null,null,null,null,null,900]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Level Cost",null,{"$f":"PMT(R17,R16,-R15)","v":99779505.185928166},null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"AE16*AE17","v":10045.004500450044}]
[null,null,null,null,null,"Duration",null,4]
[null,null,null,null,null,"Capacity - kW",null,1000,null,null,null,null,null,null,null,"Cost/kg",null,1000]
[null,null,null,null,null,"Energy Stored - kWh",null,{"$f":"H19*H20","v":4000},null,null,null,null,null,null,null,"Total per Day",null,{"$f":"R20*R12","v":12000}]
[null,null,"LCOE",{"$f":"D11","v":25},null,"Cost/kWh",null,450,null,null,null,null,null,null,null,"Capacity",null,{"$f":"R4","v":2739.7260273972602}]
[null,null,null,null,null,"Capital Cost",null,{"$f":"H20*H19*H22","v":1800000},null,null,null,null,null,null,null,"Total Cost",null,{"$f":"R22*R21","v":32876712.328767121}]
[null,null,null,null,null,"Life",null,12,null,null,null,null,null,null,null,"Life",null,20]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Level Cost",null,{"$f":"PMT(R17,R24,-R23)","v":2638112.4555843719}]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"H2 Cost/kWh",null,{"$f":"R25/R18","v":2.6439422110467861E-2}]
[null,null,null,null,null,null,null,"Hydrogen Storage"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Solar",null,null,null,"Storage",null,"Total"]
[null,null,null,"Lose 35%",null,null,null,"Cost of Storage",null,null,null,null,"Lose 35%",null,null,null,null,null,null,null,null,null,"kW",null,null,1000,null,"kW",null,{"$f":"Z30","v":1000}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"CF",null,null,0.25,null,"Hrs",null,12,null,"kWh",{"$f":"AD34+Z32","v":6570000}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"kWh-yr",null,null,{"$f":"Z30*Z31*8760","v":2190000},null,"kWh-day",null,{"$f":"AD30*AD31","v":12000}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Cost/kWh",null,450,null,"Solar PMT",{"$f":"Z37*3","v":146572.09735403958}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Cost/kW",null,null,800,null,"kWh-yr",null,{"$f":"AD32*365","v":4380000},null,"Solar OM",{"$f":"Z39*3","v":36000}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Total Cost",null,null,{"$f":"Z34*Z30","v":800000},null,"Total Cost",null,{"$f":"AD33*AD32","v":5400000},null,"Battery PMT",{"$f":"AD37","v":699324.70481346594}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Life",null,null,35,null,"Life",null,10,null,"Battery OM",{"$f":"AD39","v":54000}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"PMT",null,null,{"$f":"PMT(R17,Z36,-Z35)","v":48857.36578467986},null,"PMT",null,{"$f":"PMT(R17,AD36,-AD35)","v":699324.70481346594}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"O&M Cost",null,null,12,null,null,null,null,null,"Total",{"$f":"SUM(AG33:AG36)","v":935896.80216750549}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Total O&M",null,null,{"$f":"Z38*Z30","v":12000},null,"O&M Cost",null,{"$f":"1%*AD35","v":54000}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"LCOE",null,null,{"$f":"(Z37+Z39)/Z32","v":2.7788751499853818E-2},null,"LCOS",null,{"$f":"(AD39+AD37)/AD34","v":0.17199194173823423},null,"LCOE",{"$f":"AG38/AG31","v":0.14245004599200997}]
[null,null,null,null,null,"Battery Storage"]
[]
[null,null,null,null,"Cost of Storage: Lose 5-10%"]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,null,null,null,"Hydrogen Storage"]
[]
[null,null,null,null,null,null,null,null,"Cost of Storage",null,null,null,null,null,"Need Hydrogen"]
[null,null,null,null,null,null,null,null,"USD 1,000/kg"]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,null,null,null,null,"Battery Storage"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Need Hydrogen"]
[null,null,null,null,"Cost of Battery"]
[null,null,null,null,"USD 400/kWh"]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,null,"Both Cases"]
[]
[null,null,"Oversize Solar to Provide Storage"]
[null,null,"Same Size of Electrolizer"]
[null,null,"Store Electricity or Store Hydrogen"]

{"sheet":"Emission Working","index":6,"n_rows":40,"n_cols":22,"rows_kept":40,"cut":false,"hidden":false,"merged":[]}
[]
[]
[null,null,"PEM"]
[null,null,"Alkaline"]
[null,null,"SMR 89% Capture"]
[null,null,"ATR 92% Capture"]
[]
[null,null,"Ingleside"]
[null,null,{"$f":"(2900-800)/(1.4/0.9*178/365)","v":2768.2584269662925}]
[]
[null,null,null,null,"CI - CO2 kg/H2 kg"]
[]
[null,null,null,null,"CI w/o CCS",null,null,null,"Capture Rate - kg CO2/H2",null,"CI w/ CCS","CI w/ CCS","PTC","Carbon captured per kg H2","45Q (PTC Equivalent)"]
[null,null,"SMR with 72% Capture",null,12,2.1,{"$f":"E14-F14","v":9.9},null,null,null,{"$f":"36/100","v":0.36},{"$f":"E14*K14","v":4.32},0,{"$f":"E14-L14","v":7.68},0.74970784879792929,0.72,{"$f":"1-P14","v":0.28000000000000003},6,{"$f":"E14","v":12},{"$f":"R14*P14","v":4.32},{"$f":"P14*G14","v":7.1280000000000001}]
[null,null,"SMR with 90% Capture",null,12,{"$f":"E15*F17","v":2.1},{"$f":"E15-F15","v":9.9},null,null,null,{"$f":"24/100","v":0.24},{"$f":"E15*K15","v":2.88},0.6,{"$f":"E15-L15","v":9.120000000000001},0.8902785712292397,0.9,{"$f":"1-P15","v":9.9999999999999978E-2},6,{"$f":"E15","v":12},{"$f":"R15*P15","v":5.4},{"$f":"P15*G15","v":8.91},{"$f":"P15*G15","v":8.91}]
[null,null,"Ingleside",null,12,2.1,{"$f":"E16-F16","v":9.9},255,8.24,null,{"$f":"(E16-N16)/E16","v":0.31372549019607837},{"$f":"E16*K16","v":3.7647058823529402},0.6,{"$f":"2.1/(255)*1000","v":8.2352941176470598},0.82292190144410726,{"$f":"P15*O16/O15","v":0.83190782664473484},null,null,null,null,8.2358874837828751,{"$f":"P16*G16","v":8.2358874837828751}]
[null,null,null,null,null,{"$f":"F16/E16","v":0.17500000000000002},null,null,null,null,{"$f":"E16-N16","v":3.7647058823529402}]
[null,null,null,null,null,null,null,null,null,null,{"$f":"E15-L15","v":9.120000000000001},null,null,2.1,{"$f":"N16/E16","v":0.68627450980392168}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,255]
[null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"N18/N19","v":8.2352941176470594E-3}]
[]
[]
[]
[]
[null,null,null,null,"IHS - US Texas"]
[null,null,null,null,"Capex (kg/day)","Capex ($/kWh)"]
[null,null,"PEM",null,3851.9552310273129,1680.8531917210091]
[null,null,"Alkaline",null,3405.9008976098803,1486.2113007752203]
[null,null,"SMR 89% Capture",null,2074.6226526081032,905.28988477444489]
[null,null,"ATR 92% Capture",null,1853.3397528575285,808.73007397419417]
[]
[null,null,"Ingleside"]
[null,null,2768.2584269662925]
[]
[]
[null,null,"H2 Produced (KG)","PTC Ingleside ($/KG)","PTC to be Achieved ($/KG)","Additional PTC","Grey H2 CO2 per kg of H2 (KG)","CO2 Captured Ratio","CO2 Emission (KG)","CO2 Emission to be achieved (KG)","CO2 Emission from RNG (KG)","CO2 Emission from NG (KG)","RNG Blend Ratio","RNG (MMBTU) Used per KG of H2","Max Premium Paid for RNG per MMBTU"]
[null,"Ingleside + 0% RNG Blend (Status quo)",1,0.8,0.8,{"$f":"E37-D37","v":0},10,{"$f":"8.24/G37","v":0.82400000000000007},{"$f":"G37*(1-H37)","v":1.7599999999999993},{"$f":"I37","v":1.7599999999999993},{"$f":"I37-J37","v":0},{"$f":"J37","v":1.7599999999999993},{"$f":"K37/G37","v":0},{"$f":"0.15*M37","v":0},{"$f":"IFERROR(F37/N37,\"na\")","v":"na"}]
[]
[null,"Ingleside + $1 PTC",1,0.8,1,{"$f":"E39-D39","v":0.19999999999999996},10,{"$f":"8.24/G39","v":0.82400000000000007},{"$f":"G39*(1-H39)","v":1.7599999999999993},1.5,{"$f":"(I39-J39)/(1-C35)","v":0.25999999999999934},{"$f":"MAX(I39-K39,0)","v":1.5},{"$f":"K39/G39","v":2.5999999999999933E-2},{"$f":"0.15*M39","v":3.8999999999999898E-3},{"$f":"IFERROR(F39/N39,\"na\")","v":51.282051282051405}]
[null,"Ingleside + $3 PTC",1,0.8,3,{"$f":"E40-D40","v":2.2000000000000002},10,{"$f":"8.24/G40","v":0.82400000000000007},{"$f":"G40*(1-H40)","v":1.7599999999999993},0.45,{"$f":"(I40-J40)/(1-C35)","v":1.3099999999999994},{"$f":"MAX(I40-K40,0)","v":0.44999999999999996},{"$f":"K40/G40","v":0.13099999999999995},{"$f":"0.15*M40","v":1.964999999999999E-2},{"$f":"F40/N40","v":111.95928753180668}]

{"sheet":"Summary","index":7,"n_rows":27,"n_cols":6,"rows_kept":27,"cut":false,"hidden":false,"merged":[]}
[]
[null,null,{"$f":"Inputs!F5","v":"SMR - 72% Capture"},null,null,"Case with Flat Tariff for 45Q Credit over Life of Project"]
[]
[null,null,"Gas Price",{"$f":"Inputs!$H$99","v":4}]
[null,null,"LCOE Without 45Q",{"$f":"Inputs!F144","v":1.1285771178410262}]
[null,null,"LCOE With 45Q",{"$f":"Inputs!$F$147","v":1.1285771178410262}]
[]
[null,null,null,{"$f":"Inputs!F110","v":0}]
[]
[]
[null,null,"45 Q Credit Spread over 10 Years",{"$f":"Inputs!F149","v":0}]
[]
[null,null,"Total Cap Exp",{"$f":"'Hydrogen Financial Model'!J42","v":862820863.0136987}]
[null,null,"Debt Financing",{"$f":"'Hydrogen Financial Model'!J123","v":0},{"$f":"D14/$D$13","v":0}]
[null,null,"Equity Financing",{"$f":"'Hydrogen Financial Model'!J122","v":862820863.0136987},{"$f":"D15/D13","v":1}]
[]
[null,null,"Tax Rate",{"$f":"Inputs!F115","v":0},null,"Case with Tariff for 45Q during the 10 45Q period"]
[]
[null,null,"Computed LCOE"]
[null,null,"NPV Revenues/NPV Production - Real",{"$f":"'Hydrogen Financial Model'!G254","v":1.1285771178410264}]
[null,null,"NPV Revenues/NPV Production - Nominal",{"$f":"'Hydrogen Financial Model'!G260","v":1.1285771178410264}]
[]
[null,null,"NPV Costs/NPV Production - Real",{"$f":"'Hydrogen Financial Model'!G272","v":1.1285771178410267}]
[null,null,"NPV Costs/NPV Production - Nominal",{"$f":"'Hydrogen Financial Model'!G273","v":1.1285771178410262}]
[]
[null,null,"Equity IRR - Case with Spread of 45Q over Life",{"$f":"'Hydrogen Financial Model'!F174","v":0.10000000000000009}]
[null,null,"Equity IRR - Case with Spread of 45Q over 10 yrs",{"$f":"'Hydrogen Financial Model'!$F$335","v":0.10000000000000009}]

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[]
[null,null,null,"Scenario",3]
[]
[null,null,null,null,null,null,null,1,2,3,4,5,6,7,8,9,10,11,12,13,14,15,16]
[null,null,null,null,null,{"$f":"INDEX(H5:U5,$E$2)","v":"SMR - 72% Capture"},null,"Green H2","Grey H2 - IEA","SMR - 72% Capture","SMR - 90% Capture","Ingleside 12 - No RNG","Ingleside 12 - No RNG IHS1","Ingleside 12 - No RNG IHS2","Ingleside 12 - No RNG","Ingleside 12 - 15% RNG","Ingleside 12 - No RNG","Ingleside 10 - No RNG","Ingleside 10 - 15% RNG Blend","Ingleside 10 - 15% RNG Blend","Grey H2",null,"Blue H2 with RNG",null,null,null,false,"COMMENT"]
[null,"Operations"]
[null,null,"H2 Energy Conversions"]
[null,null,null,"H2 kWh/kg","kwh/kg",33.33,null,33.33,33.33,33.33,33.33,33.33,33.33,33.33,33.33,33.33,33.33,33.33,33.33,33.33,33.33,null,33.33]
[null,null,null,"Conversion","BTU/kWh",3412.14,null,3412.14,3412.14,3412.14,3412.14,3412.14,3412.14,3412.14,3412.14,3412.14,3412.14,3412.14,3412.14,3412.14,3412.14,null,3412.14]
[null,null,null,"H2 BTU/kg","BTU/kWh",{"$f":"F8*F9","v":113726.62619999998},null,{"$f":"H8*H9","v":113726.62619999998},{"$f":"I8*I9","v":113726.62619999998},{"$f":"J8*J9","v":113726.62619999998},{"$f":"K8*K9","v":113726.62619999998},113726.62619999998,{"$f":"M8*M9","v":113726.62619999998},113726.62619999998,113726.62619999998,{"$f":"P8*P9","v":113726.62619999998},113726.62619999998,{"$f":"R8*R9","v":113726.62619999998},113726.62619999998,{"$f":"T8*T9","v":113726.62619999998},113726.62619999998,null,{"$f":"W8*W9","v":113726.62619999998}]
[null,null,null,"H2 MMBTU/kg","MMBTU/kWh",{"$f":"F10/1000000","v":0.11372662619999999},null,{"$f":"H10/1000000","v":0.11372662619999999},{"$f":"I10/1000000","v":0.11372662619999999},{"$f":"J10/1000000","v":0.11372662619999999},{"$f":"K10/1000000","v":0.11372662619999999},0.11372662619999999,{"$f":"M10/1000000","v":0.11372662619999999},0.11372662619999999,0.11372662619999999,{"$f":"P10/1000000","v":0.11372662619999999},0.11372662619999999,{"$f":"R10/1000000","v":0.11372662619999999},0.11372662619999999,{"$f":"T10/1000000","v":0.11372662619999999},0.11372662619999999,null,{"$f":"W10/1000000","v":0.11372662619999999}]
[]
[null,null,"Capacity"]
[null,null,null,"Ammonia Production","NH3 tPA",{"$f":"INDEX(H14:Y14,$E$2)","v":1400000},null,{"$f":"1.4*10^6","v":1400000},1400000,1400000,1400000,1400000,1400000,1400000,1400000,1400000,1400000,1400000,1400000,1400000,1400000,null,{"$f":"1.4*10^6","v":1400000}]
[null,null,null,"Conversion","H2/NH3",{"$f":"INDEX(H15:Y15,$E$2)","v":178},null,178,178,178,178,178,178,178,178,178,178,178,178,178,178,null,178]
[null,null,null,"Capacity H2","H2 kgy",{"$f":"INDEX(H16:Y16,$E$2)","v":249200000},null,{"$f":"H14*H15","v":249200000},{"$f":"I14*I15","v":249200000},{"$f":"J14*J15","v":249200000},{"$f":"K14*K15","v":249200000},255500000,{"$f":"M14*M15","v":249200000},249200000,249200000,{"$f":"P14*P15","v":249200000},249200000,{"$f":"R14*R15","v":249200000},249200000,{"$f":"T14*T15","v":249200000},249200000,null,{"$f":"W14*W15","v":249200000}]
[null,null,null,"kWh Converstion from Above","H2/kW",{"$f":"INDEX(H17:Y17,$E$2)","v":33.33},null,{"$f":"H8","v":33.33},{"$f":"I8","v":33.33},{"$f":"J8","v":33.33},33.33,{"$f":"L8","v":33.33},{"$f":"M8","v":33.33},33.33,33.33,{"$f":"P8","v":33.33},33.33,{"$f":"R8","v":33.33},33.33,{"$f":"T8","v":33.33},33.33,null,{"$f":"W8","v":33.33}]
[null,null,null,"kWh Capacity per Year of H2","H2 kWhy",{"$f":"INDEX(H18:Y18,$E$2)","v":8305836000},null,{"$f":"H16*H17","v":8305836000},{"$f":"I16*I17","v":8305836000},{"$f":"J16*J17","v":8305836000},{"$f":"K16*K17","v":8305836000},8515815000,{"$f":"M16*M17","v":8305836000},8305836000,8305836000,{"$f":"P16*P17","v":8305836000},8305836000,{"$f":"R16*R17","v":8305836000},8305836000,{"$f":"T16*T17","v":8305836000},8305836000,null,{"$f":"W16*W17","v":8305836000}]
[null,null,null,"kWh Capacity (Output) per Hour of H2","H2 kWh",{"$f":"INDEX(H19:Y19,$E$2)","v":948154.79452054796},null,{"$f":"H18/8760","v":948154.79452054796},{"$f":"I18/8760","v":948154.79452054796},{"$f":"J18/8760","v":948154.79452054796},{"$f":"K18/8760","v":948154.79452054796},972125,{"$f":"M18/8760","v":948154.79452054796},948154.79452054796,948154.79452054796,{"$f":"P18/8760","v":948154.79452054796},948154.79452054796,{"$f":"R18/8760","v":948154.79452054796},948154.79452054796,{"$f":"T18/8760","v":948154.79452054796},948154.79452054796,null,{"$f":"W18/8760","v":948154.79452054796}]
[]
[null,null,null,"Availability","%",{"$f":"INDEX(H21:U21,$E$2)","v":1},null,0.3,1,1,1,1,1,1,1,1,1,1,1,1,1,null,1]
[null,null,null,"H2 Production","H2-kg",null,null,null,null,null,null,{"$f":"L16*L21","v":255500000}]
[]
[null,"Efficiency and Energy Production"]
[null,null,null,"IEA Efficiency Benchmark","%",{"$f":"INDEX(H25:U25,$E$2)","v":0.76},null,0.64,0.76,0.76,0.76,0.69,0.69,0.69,0.69,0.69,0.69,0.69,0.69,0.69,0.76,null,0.76]
[null,null,null,"Efficiency Percent Applied","%",{"$f":"INDEX(H26:U26,$E$2)","v":0.76},null,0.64,{"$f":"I11/I28","v":0.76},{"$f":"J11/J28","v":0.76},{"$f":"K11/K28","v":0.76},{"$f":"L11/L28","v":0.67694420357142848},{"$f":"M11/M28","v":0.67694420357142848},0.67694420357142848,0.67694420357142848,{"$f":"P11/P28","v":0.67694420357142848},0.67694420357142848,{"$f":"R11/R28","v":0.67694420357142848},0.67694420357142848,0.67694420357142848,0.76,null,{"$f":"W11/W28","v":0.76}]
[null,null,null,"Efficiency - kWh/kg","kWh/kg",{"$f":"INDEX(H27:U27,$E$2)","v":43.855263157894733},null,{"$f":"H8/H26","v":52.078124999999993},{"$f":"I8/I26","v":43.855263157894733},{"$f":"J8/J26","v":43.855263157894733},{"$f":"K8/K26","v":43.855263157894733},49.235963354375848,{"$f":"M8/M26","v":49.235963354375848},49.235963354375848,49.235963354375848,{"$f":"P8/P26","v":49.235963354375848},49.235963354375848,{"$f":"R8/R26","v":49.235963354375848},49.235963354375848,{"$f":"T8/T26","v":49.235963354375848},43.855263157894733,null,{"$f":"W8/W26","v":43.855263157894733}]
[null,null,null,"Efficiency - MMBTU/kg","MMBTU/KG",{"$f":"INDEX(H28:U28,$E$2)","v":0.14964029763157893},null,{"$f":"H11/H26","v":0.17769785343749997},{"$f":"I11/I25","v":0.14964029763157893},{"$f":"J11/J25","v":0.14964029763157893},{"$f":"K11/K25","v":0.14964029763157893},0.16800000000000001,0.16800000000000001,0.16800000000000001,0.16800000000000001,0.16800000000000001,0.16800000000000001,0.16800000000000001,0.16800000000000001,0.16800000000000001,{"$f":"U11/U25","v":0.14964029763157893},null,{"$f":"W11/W25","v":0.14964029763157893}]
[null,null,null,"kWh Energy Input per Hour","kWhe",{"$f":"INDEX(H29:U29,$E$2)","v":1247572.0980533527},null,{"$f":"H19/H26","v":1481491.8664383562},{"$f":"I19/I26","v":1247572.0980533527},{"$f":"J19/J26","v":1247572.0980533527},{"$f":"K19/K26","v":1247572.0980533527},1436048.9311692957,{"$f":"M19/M26","v":1400639.5054692309},1400639.5054692309,1400639.5054692309,{"$f":"P19/P26","v":1400639.5054692309},1400639.5054692309,{"$f":"R19/R26","v":1400639.5054692309},1400639.5054692309,{"$f":"T19/T26","v":1400639.5054692309},1247572.0980533527,null,{"$f":"W19/W26","v":1247572.0980533527}]
[null,null,null,"Total Gas Consumed","MMBTU",null,null,null,null,null,null,{"$f":"L28*L22","v":42924000}]
[]
[null,null,null,"Added NG for Synthesyser","%",{"$f":"INDEX(H32:U32,$E$2)","v":0.06},null,0.06,0.06,0.06,0.06,0.06,0.06,0.06,0.06,0.06,0.06,0.06,0.06,0.06,0.06,null,0.06]
[]
[null,null,"Emissions"]
[null,null,null,"Percent of Renewable Input","%",null,null,1,0,0,0,0,0,0,0,0,0,0,0,0,0,null,1]
[null,null,null,"Percent of RNG Used","%",null,null,null,null,0.1,0.1,null,null,null,null,null,null,null,null,null,null,null,0.2]
[]
[null,null,null,"Emissions per kWh of Electricity - NG","CO2 Tonnes/kWh"]
[null,null,null,"Emissions per kWh of Electricity - Coal","CO2 Tonnes/kWh"]
[null,null,null,"Percent of Coal Energy","%",null,null,null,null,null,null,38]
[]
[null,null,null,"RNG Blend","%",null,null,null,null,null,null,0,0,0,0,0.15,0.75,0,0.14000000000000001,0.75]
[null,null,null,"Added CO2 from Leakage etc.","kg CO2/kg H2",null,null,0,2.1,1.33,1.33,{"$f":"L40/10","v":3.8},1,1,1,1,1,1,1,1,2.1,null,2.1]
[null,null,null,"Total kG CO2 per H2  Onsite","kg CO2/kg H2",null,null,{"$f":"SUM(H43:H43)","v":0},null,null,null,10.1]
[null,null,null,"kg CO2/kg H2 at Plant without Capture","kg CO2/kg H2",null,null,{"$f":"H43+H44","v":0},{"$f":"I43+I44","v":2.1},1.33,1.33,13.899999999999999,1,1,1,1,1,1,1,1,2.1,0,2.1]
[null,null,null,"With RNG",null,null,null,null,null,null,null,{"$f":"L45*(1-L42)","v":13.899999999999999}]
[null,null,null,"RNG Reduction",null,null,null,null,null,null,null,{"$f":"L45-L46","v":0}]
[null,null,null,null,null,null,null,null,null,null,null,{"$f":"L44*L50","v":9.5949999999999989}]
[]
[null,null,null,"Percent CO2 Captured at the Plant","%",null,null,null,0,0.72,0.9,0.95,0.95,0.95,0.95,{"$f":"'Emission Working'!$P$16","v":0.83190782664473484},{"$f":"'Emission Working'!$P$16","v":0.83190782664473484},0.82399999999999995,0.82399999999999995,0.82399999999999995,0,null,0.9]
[null,null,null,"CO2 Capture Rate at the Plant","kg CO2/kg H2",null,null,{"$f":"H50*H45","v":0},{"$f":"I50*I44","v":0},{"$f":"J50*J44","v":0},{"$f":"K50*K44","v":0},{"$f":"L50*L44","v":9.5949999999999989},{"$f":"M50*M44","v":0},0,0,{"$f":"P50*P44","v":0},0,{"$f":"R50*R44","v":0},0,0,0,0,0]
[null,null,null,"Remaining Emissions","kg CO2/kg H2",null,null,{"$f":"H45-H51","v":0},{"$f":"I45-I51","v":2.1},{"$f":"J45-J51","v":1.33},{"$f":"K45-K51","v":1.33},{"$f":"L45-L51","v":4.3049999999999997},{"$f":"M45-M51","v":1},1,1,{"$f":"P45-P51","v":1},{"$f":"Q45-Q51","v":1},{"$f":"R45-R51","v":1},{"$f":"S45-S51+0","v":1},{"$f":"T45-T51","v":1},{"$f":"U45-U51","v":2.1},{"$f":"V45-V51","v":0},{"$f":"W45-W51","v":2.1}]
[null,null,null,null,null,null,null,null,null,null,null,{"$f":"L52-L47","v":4.3049999999999997}]
[]
[null,null,null,"PTC from Remaining Emissions","USD/kg",null,null,{"$f":"_xlfn.XLOOKUP(H52,'IEA Hydrogen Data'!50:50,'IEA Hydrogen Data'!54:54,0,-1)","v":3},{"$f":"_xlfn.XLOOKUP(I52,'IEA Hydrogen Data'!50:50,'IEA Hydrogen Data'!54:54,0,-1)","v":1},{"$f":"_xlfn.XLOOKUP(J52,'IEA Hydrogen Data'!50:50,'IEA Hydrogen Data'!54:54,0,-1)","v":3},{"$f":"_xlfn.XLOOKUP(K52,'IEA Hydrogen Data'!50:50,'IEA Hydrogen Data'!54:54,0,-1)","v":3},{"$f":"_xlfn.XLOOKUP(L53,'IEA Hydrogen Data'!51:51,'IEA Hydrogen Data'!54:54,0,-1)","v":0},{"$f":"_xlfn.XLOOKUP(M52,'IEA Hydrogen Data'!50:50,'IEA Hydrogen Data'!54:54,0,-1)","v":3},{"$f":"_xlfn.XLOOKUP(N52,'IEA Hydrogen Data'!50:50,'IEA Hydrogen Data'!54:54,0,-1)","v":3},{"$f":"_xlfn.XLOOKUP(O52,'IEA Hydrogen Data'!50:50,'IEA Hydrogen Data'!54:54,0,-1)","v":3},{"$f":"_xlfn.XLOOKUP(P52,'IEA Hydrogen Data'!50:50,'IEA Hydrogen Data'!54:54,0,-1)","v":3},{"$f":"_xlfn.XLOOKUP(Q52,'IEA Hydrogen Data'!50:50,'IEA Hydrogen Data'!54:54,0,-1)","v":3},{"$f":"_xlfn.XLOOKUP(R52,'IEA Hydrogen Data'!50:50,'IEA Hydrogen Data'!54:54,0,-1)","v":3},{"$f":"_xlfn.XLOOKUP(S52,'IEA Hydrogen Data'!50:50,'IEA Hydrogen Data'!54:54,0,-1)","v":3},{"$f":"_xlfn.XLOOKUP(T52,'IEA Hydrogen Data'!50:50,'IEA Hydrogen Data'!54:54,0,-1)","v":3},{"$f":"_xlfn.XLOOKUP(U52,'IEA Hydrogen Data'!50:50,'IEA Hydrogen Data'!54:54,0,-1,1)","v":1},{"$f":"_xlfn.XLOOKUP(V52,'IEA Hydrogen Data'!50:50,'IEA Hydrogen Data'!54:54,0,-1)","v":3},{"$f":"_xlfn.XLOOKUP(W52,'IEA Hydrogen Data'!50:50,'IEA Hydrogen Data'!54:54,0,-1)","v":1}]
[null,null,null,"Annual PTC","USD  "]
[null,null,null,null,null,null,null,null,null,null,null,0.44]
[null,null,null,null,null,null,null,null,null,null,null,{"$f":"L53-L57","v":3.8649999999999998}]
[]
[null,null,null,"Value of PTC",null,null,null,null,null,null,null,{"$f":"L55*L64","v":0}]
[null,null,null,"Total Gas Cost",null,null,null,null,null,null,null,{"$f":"L30*rng*L99","v":0}]
[null,null,null,"PTC Less RNG Cost",null,null,null,null,null,null,null,{"$f":"L60-L61","v":0}]
[]
[null,null,null,"Total kg Produced","kG",null,null,{"$f":"H16*H21","v":74760000},249200000,249200000,249200000,255500000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,null,{"$f":"W16*W21","v":249200000}]
[null,null,null,"Total kg Sequestered","kG",null,null,{"$f":"H64*H51","v":0},{"$f":"I64*I51","v":0},{"$f":"J64*J51","v":0},{"$f":"K64*K51","v":0},{"$f":"L64*L51","v":2451522499.9999995},{"$f":"M64*M51","v":0},0,0,{"$f":"P64*P51","v":0},0,{"$f":"R64*R51","v":0},0,0,0,null,{"$f":"W64*W51","v":0}]
[null,null,null,"Total tons Sequestered","Tonnes",null,null,{"$f":"H65/1000","v":0},{"$f":"I65/1000","v":0},{"$f":"J65/1000","v":0},{"$f":"K65/1000","v":0},{"$f":"L65/1000","v":2451522.4999999995},{"$f":"M65/1000","v":0},0,0,{"$f":"P65/1000","v":0},0,{"$f":"R65/1000","v":0},0,{"$f":"T65/1000","v":0},0,null,0]
[]
[]
[null,null,null,"kg H2","kgy",null,null,{"$f":"H16","v":249200000},249200000,249200000,249200000,255500000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,null,{"$f":"W16","v":249200000}]
[null,null,null,"kg CO2","kg "]
[null,null,null,"Tons CO2","Tons p.a.",null,null,{"$f":"H70/1000","v":0},{"$f":"I70/1000","v":0},{"$f":"J70/1000","v":0},{"$f":"K70/1000","v":0},0,{"$f":"M70/1000","v":0},0,0,{"$f":"P70/1000","v":0},0,{"$f":"R70/1000","v":0},0,{"$f":"T70/1000","v":0},0,null,{"$f":"W70/1000","v":0}]
[null,null,null,"CO2 Captured","Tons p.a.",null,null,{"$f":"L71-H71","v":0},null,null,null,{"$f":"U71-L71","v":0},{"$f":"V71-M71","v":0},0,0,{"$f":"I71-P71","v":0},{"$f":"J71-Q71","v":0},{"$f":"I71-R71","v":0},{"$f":"J71-S71","v":0},{"$f":"K71-T71","v":0}]
[]
[null,null,null,"CO2 Captured","Tons p.a.",{"$f":"INDEX(H74:U74,$E$2)","v":0},null,null,0,0,0,2100000,2100000,2100000,2100000,2100000,2100000,2100000,2100000,2100000,0,null,0]
[]
[null,null,null,"Life time of Project","Years",{"$f":"INDEX(H76:U76,$E$2)","v":30},null,25,30,30,30,30,30,30,30,30,30,30,30,30,30,null,30]
[null,null,null,"Lifetime of Stack","Hours"]
[null,null,null,"Lifetime of Other Equipment","Hours",{"$f":"INDEX(H78:U78,$E$2)","v":262800},null,{"$f":"H76*8760","v":219000},{"$f":"I76*8760","v":262800},{"$f":"J76*8760","v":262800},{"$f":"K76*8760","v":262800},262800,{"$f":"M76*8760","v":262800},262800,262800,{"$f":"P76*8760","v":262800},262800,{"$f":"R76*8760","v":262800},262800,{"$f":"T76*8760","v":262800},262800,null,{"$f":"W76*8760","v":262800}]
[]
[]
[]
[null,"Free Cash Flow without 45Q"]
[null,null,"Capital Expenditures"]
[null,null,null,"Total Cap Exp","US$",{"$f":"INDEX(H84:U84,$E$2)","v":1662820863.0136986},null,{"$f":"H86+H85","v":2133342679.7945206},{"$f":"I86+I85","v":1662820863.0136986},{"$f":"J86+J85","v":1662820863.0136986},{"$f":"K86+K85","v":1662820863.0136986},{"$f":"2900*10^6","v":2900000000},{"$f":"2900*10^6","v":2900000000},2900000000,2900000000,{"$f":"2900*10^6","v":2900000000},2900000000,{"$f":"2900*10^6","v":2900000000},{"$f":"2900*10^6","v":2900000000},{"$f":"2900*10^6","v":2900000000},{"$f":"U86+U85","v":1662820863.0136986},null,{"$f":"W86+W85","v":1662820863.0136986}]
[null,null,null,"Ammonia Capex","US$",{"$f":"INDEX(H85:U85,$E$2)","v":800000000},null,800000000,800000000,800000000,800000000,800000000,800000000,800000000,800000000,800000000,800000000,800000000,800000000,800000000,800000000,null,800000000]
[null,null,null,"H2 Capex","US$",{"$f":"INDEX(H86:U86,$E$2)","v":862820863.0136987},null,{"$f":"H93*H96","v":1333342679.7945206},{"$f":"I91*I19","v":862820863.0136987},{"$f":"J91*J19","v":862820863.0136987},{"$f":"K91*K19","v":862820863.0136987},{"$f":"L84-L85","v":2100000000},{"$f":"M84-M85","v":2100000000},2100000000,2100000000,{"$f":"P84-P85","v":2100000000},2100000000,{"$f":"R84-R85","v":2100000000},{"$f":"S84-S85","v":2100000000},{"$f":"T84-T85","v":2100000000},{"$f":"U91*U19","v":862820863.0136987},null,{"$f":"W91*W19","v":862820863.0136987}]
[]
[null,null,null,"Ammonia CapEx per Ton","USD/Tonne",{"$f":"INDEX(H88:U88,$E$2)","v":571.42857142857144},null,{"$f":"H85/H14","v":571.42857142857144},571.42857142857144,571.42857142857144,571.42857142857144,571.42857142857144,571.42857142857144,571.42857142857144,571.42857142857144,571.42857142857144,571.42857142857144,571.42857142857144,571.42857142857144,571.42857142857144,571.42857142857144,null,{"$f":"W85/W14","v":571.42857142857144}]
[]
[null,null,null,"H2 Cap Exp per kW H2 Output","USD/kWh2",{"$f":"INDEX(H90:U90,$E$2)","v":910},null,null,{"$f":"I86/I19","v":910},910,910,2160.2160216021603,2214.8282243954732,2214.8282243954732,2214.8282243954732,2214.8282243954732,2214.8282243954732,2214.8282243954732,2214.8282243954732,2214.8282243954732,910,null,{"$f":"W86/W19","v":910}]
[null,null,null,"H2 Cap Exp per kW H2 Output - IEA Benchmark","USD/kWh2",{"$f":"INDEX(H91:U91,$E$2)","v":910},null,null,910,910,910,1680,1680,1680,1680,1680,1680,1680,1680,1680,910,null,910]
[]
[null,null,null,"Eqnergy Input","kWh",{"$f":"INDEX(H93:U93,$E$2)","v":1247572.0980533527},null,{"$f":"H29","v":1481491.8664383562},1247572.0980533527,1247572.0980533527,1247572.0980533527,1436048.9311692957,1400639.5054692309,1400639.5054692309,1400639.5054692309,1400639.5054692309,1400639.5054692309,1400639.5054692309,1400639.5054692309,1400639.5054692309,1247572.0980533527,null,{"$f":"W29","v":1247572.0980533527}]
[null,null,null,"H2 Cap Exp per kW H2 Input","USD/kWH2",{"$f":"INDEX(H94:U94,$E$2)","v":691.6},null,{"$f":"H86/H93","v":900},{"$f":"I86/I93","v":691.6},{"$f":"J86/J93","v":691.6},{"$f":"K86/K93","v":691.6},1462.3457142857142,{"$f":"M86/M93","v":1499.3151284109147},1499.3151284109147,1499.3151284109147,{"$f":"P86/P93","v":1499.3151284109147},1499.3151284109147,{"$f":"R86/R93","v":1499.3151284109147},1499.3151284109147,{"$f":"T86/T93","v":1499.3151284109147},691.6,null,{"$f":"W86/W93","v":691.6}]
[]
[null,null,null,"Cap Exp per kWh Input Benchmark",null,{"$f":"INDEX(H96:U96,$E$2)","v":0},null,900]
[]
[null,null,"Feedstock Cost"]
[null,null,null,"NG Price - Non-Renewable","$/MMBTU",{"$f":"INDEX(H99:U99,$E$2)","v":4},null,4,{"$f":"U99","v":4},{"$f":"H99","v":4},{"$f":"L99","v":4},{"$f":"H99","v":4},{"$f":"I99","v":4},4,4,{"$f":"L99","v":4},{"$f":"P99","v":4},{"$f":"L99","v":4},{"$f":"P99","v":4},{"$f":"Q99","v":4},{"$f":"L99","v":4},null,{"$f":"I99","v":4}]
[null,null,null,"Renewable","$/MMBTU",null,null,null,null,null,null,25]
[null,null,null,"Cost of Fuel","$/KG",{"$f":"INDEX(H101:U101,$E$2)","v":0.59856119052631573},null,null,{"$f":"I99*I28","v":0.59856119052631573},0.59856119052631573,0.59856119052631573,0.67200000000000004,0.67200000000000004,0.67200000000000004,0.67200000000000004,0.67200000000000004,0.67200000000000004,0.67200000000000004,0.67200000000000004,0.67200000000000004,0.59856119052631573,null,{"$f":"W99*W28","v":0.59856119052631573}]
[]
[null,null,"O&M Cost"]
[null,null,null,"O&M Pct of Cap Exp - H2 Production","% of Capex",{"$f":"INDEX(H104:U104,$E$2)","v":4.7E-2},null,1.4999999999999999E-2,4.7E-2,4.7E-2,4.7E-2,0.03,0.03,0.03,0.03,0.03,0.03,0.03,0.03,0.03,4.7E-2,null,4.7E-2]
[null,null,null,"Total O&M of H2","$",{"$f":"INDEX(H105:U105,$E$2)","v":40552580.561643839},null,{"$f":"H104*H86","v":20000140.19691781},{"$f":"I104*I86","v":40552580.561643839},{"$f":"J104*J86","v":40552580.561643839},{"$f":"K104*K86","v":40552580.561643839},63000000,{"$f":"M104*M86","v":63000000},63000000,63000000,{"$f":"P104*P86","v":63000000},63000000,{"$f":"R104*R86","v":63000000},63000000,{"$f":"T104*T86","v":63000000},40552580.561643839,null,{"$f":"W104*W86","v":40552580.561643839}]
[]
[null,null,null,"O&M Pct of Cap Exp - Ammonia Production","% of Capex",null,null,0.03,0.03,0.03,0.03,0.03,0.03,0.03,0.03,0.03,0.03,0.03,0.03,0.03,0.03,null,0.03]
[null,null,null,"Total O&M of Ammonia","$",{"$f":"INDEX(H108:U108,$E$2)","v":24000000},null,{"$f":"H107*H85","v":24000000},{"$f":"I107*I85","v":24000000},{"$f":"J107*J85","v":24000000},{"$f":"K107*K85","v":24000000},24000000,{"$f":"M107*M85","v":24000000},24000000,24000000,{"$f":"P107*P85","v":24000000},24000000,{"$f":"R107*R85","v":24000000},24000000,{"$f":"T107*T85","v":24000000},24000000,null,{"$f":"W107*W85","v":24000000}]
[]
[null,null,null,"Inflation Rate","%",{"$f":"INDEX(H110:U110,$E$2)*F111","v":0},null,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,null,0.02]
[null,null,null,"Apply Inflation in Prices","Flag",false,null,{"$f":"F111","v":false},{"$f":"U111","v":false},{"$f":"H111","v":false},{"$f":"L111","v":false},{"$f":"H111","v":false},{"$f":"I111","v":false},false,false,{"$f":"L111","v":false},{"$f":"P111","v":false},{"$f":"L111","v":false},{"$f":"P111","v":false},{"$f":"Q111","v":false},{"$f":"L111","v":false},null,{"$f":"I111","v":false}]
[]
[null,"Taxes and Financing"]
[]
[null,null,null,"Tax Rate","%",{"$f":"INDEX(H115:U115,$E$2)","v":0},null,0,0,0,0,0,0,0,0,0,0,0,0,0,0,null,0]
[]
[]
[null,null,null,"Equity Hurrdle Rate","%",{"$f":"INDEX(H118:U118,$E$2)","v":0.1},null,0.1,0.1,0.1,0.1,0.1,0.1,0.1,0.1,0.1,0.1,0.1,0.1,0.1,0.1,null,0.1]
[null,null,null,"Real Hurdle Rate","%",{"$f":"INDEX(H119:U119,$E$2)","v":7.8431372549019773E-2},null,{"$f":"(1+H118)/(1+H110)-1","v":7.8431372549019773E-2},{"$f":"(1+I118)/(1+I110)-1","v":7.8431372549019773E-2},{"$f":"(1+J118)/(1+J110)-1","v":7.8431372549019773E-2},{"$f":"(1+K118)/(1+K110)-1","v":7.8431372549019773E-2},7.8431372549019773E-2,{"$f":"(1+M118)/(1+M110)-1","v":7.8431372549019773E-2},7.8431372549019773E-2,7.8431372549019773E-2,{"$f":"(1+P118)/(1+P110)-1","v":7.8431372549019773E-2},7.8431372549019773E-2,{"$f":"(1+R118)/(1+R110)-1","v":7.8431372549019773E-2},7.8431372549019773E-2,{"$f":"(1+T118)/(1+T110)-1","v":7.8431372549019773E-2},7.8431372549019773E-2,null,{"$f":"(1+W118)/(1+W110)-1","v":7.8431372549019773E-2}]
[null,null,null,"Debt Cost ","%",{"$f":"INDEX(H120:U120,$E$2)","v":0.05},null,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,null,0.05]
[null,null,null,"Real Debt Cost","%",{"$f":"INDEX(H121:U121,$E$2)","v":2.941176470588247E-2},null,{"$f":"(1+H120)/(1+H110)-1","v":2.941176470588247E-2},{"$f":"(1+I120)/(1+I110)-1","v":2.941176470588247E-2},{"$f":"(1+J120)/(1+J110)-1","v":2.941176470588247E-2},{"$f":"(1+K120)/(1+K110)-1","v":2.941176470588247E-2},2.941176470588247E-2,{"$f":"(1+M120)/(1+M110)-1","v":2.941176470588247E-2},2.941176470588247E-2,2.941176470588247E-2,{"$f":"(1+P120)/(1+P110)-1","v":2.941176470588247E-2},2.941176470588247E-2,{"$f":"(1+R120)/(1+R110)-1","v":2.941176470588247E-2},2.941176470588247E-2,{"$f":"(1+T120)/(1+T110)-1","v":2.941176470588247E-2},2.941176470588247E-2,null,{"$f":"(1+W120)/(1+W110)-1","v":2.941176470588247E-2}]
[null,null,null,"Real Debt Cost After Tax","%",{"$f":"INDEX(H122:U122,$E$2)","v":2.941176470588247E-2},null,{"$f":"H121*(1-H115)","v":2.941176470588247E-2},{"$f":"I121*(1-I115)","v":2.941176470588247E-2},{"$f":"J121*(1-J115)","v":2.941176470588247E-2},{"$f":"K121*(1-K115)","v":2.941176470588247E-2},2.941176470588247E-2,{"$f":"M121*(1-M115)","v":2.941176470588247E-2},2.941176470588247E-2,2.941176470588247E-2,{"$f":"P121*(1-P115)","v":2.941176470588247E-2},2.941176470588247E-2,{"$f":"R121*(1-R115)","v":2.941176470588247E-2},2.941176470588247E-2,{"$f":"T121*(1-T115)","v":2.941176470588247E-2},2.941176470588247E-2,null,{"$f":"W121*(1-W115)","v":2.941176470588247E-2}]
[null,null,null,"Debt/Equity","%",{"$f":"INDEX(H123:U123,$E$2)","v":0},null,{"$f":"X123/100","v":0},{"$f":"U123","v":0},{"$f":"H123","v":0},{"$f":"L123","v":0},{"$f":"H123","v":0},{"$f":"I123","v":0},0,0,{"$f":"L123","v":0},{"$f":"P123","v":0},{"$f":"L123","v":0},{"$f":"P123","v":0},{"$f":"Q123","v":0},{"$f":"L123","v":0},null,{"$f":"I123","v":0},0]
[null,null,null,"After Tax WACC - Real","%",{"$f":"INDEX(H124:U124,$E$2)","v":7.8431372549019773E-2},null,{"$f":"H123*H121+(1-H123)*H119","v":7.8431372549019773E-2},{"$f":"I123*I121+(1-I123)*I119","v":7.8431372549019773E-2},{"$f":"J123*J121+(1-J123)*J119","v":7.8431372549019773E-2},{"$f":"K123*K121+(1-K123)*K119","v":7.8431372549019773E-2},7.8431372549019773E-2,{"$f":"M123*M121+(1-M123)*M119","v":7.8431372549019773E-2},7.8431372549019773E-2,7.8431372549019773E-2,{"$f":"P123*P121+(1-P123)*P119","v":7.8431372549019773E-2},7.8431372549019773E-2,{"$f":"R123*R121+(1-R123)*R119","v":7.8431372549019773E-2},7.8431372549019773E-2,{"$f":"T123*T121+(1-T123)*T119","v":7.8431372549019773E-2},7.8431372549019773E-2,null,{"$f":"W123*W121+(1-W123)*W119","v":7.8431372549019773E-2}]
[null,null,null,"After Tax WACC - Nominal","%",{"$f":"INDEX(H125:U125,$E$2)","v":0.1},null,{"$f":"H118*(1-H123)+H120*H123*(1-H115)","v":0.1},{"$f":"I118*(1-I123)+I120*I123*(1-I115)","v":0.1},{"$f":"J118*(1-J123)+J120*J123*(1-J115)","v":0.1},{"$f":"K118*(1-K123)+K120*K123*(1-K115)","v":0.1},0.1,{"$f":"M118*(1-M123)+M120*M123*(1-M115)","v":0.1},0.1,0.1,{"$f":"P118*(1-P123)+P120*P123*(1-P115)","v":0.1},0.1,{"$f":"R118*(1-R123)+R120*R123*(1-R115)","v":0.1},0.1,{"$f":"T118*(1-T123)+T120*T123*(1-T115)","v":0.1},0.1,null,{"$f":"W118*(1-W123)+W120*W123*(1-W115)","v":0.1}]
[null,null,null,"After Tax WACC Applied","%",{"$f":"INDEX(H126:U126,$E$2)","v":0.1},null,{"$f":"IF(H111,H124,H125)","v":0.1},{"$f":"IF(I111,I124,I125)","v":0.1},{"$f":"IF(J111,J124,J125)","v":0.1},{"$f":"IF(K111,K124,K125)","v":0.1},0.1,{"$f":"IF(M111,M124,M125)","v":0.1},0.1,0.1,{"$f":"IF(P111,P124,P125)","v":0.1},0.1,{"$f":"IF(R111,R124,R125)","v":0.1},0.1,{"$f":"IF(T111,T124,T125)","v":0.1},0.1,null,{"$f":"IF(W111,W124,W125)","v":0.1}]
[null,null,null,"Pre Tax WACC","%",{"$f":"INDEX(H127:U127,$E$2)","v":7.8431372549019773E-2},null,{"$f":"INDEX(U127:W127,$E$2)","v":7.8431372549019773E-2},{"$f":"I124","v":7.8431372549019773E-2},{"$f":"J124","v":7.8431372549019773E-2},{"$f":"K124","v":7.8431372549019773E-2},{"$f":"L124","v":7.8431372549019773E-2},{"$f":"M124","v":7.8431372549019773E-2},7.8431372549019773E-2,7.8431372549019773E-2,{"$f":"P124","v":7.8431372549019773E-2},7.8431372549019773E-2,{"$f":"R124","v":7.8431372549019773E-2},7.8431372549019773E-2,7.8431372549019773E-2,7.8431372549019773E-2,null,{"$f":"W124","v":7.8431372549019773E-2}]
[]
[null,null,null,"Apply Straight Line Depreciation","Flag",false]
[]
[null,null,null,"Include 45Q","Flag",{"$f":"INDEX(H131:U131,$E$2)","v":false},null,true,false,false,false,true,true,true,true,true,true,true,true,true,false,null,false]
[null,null,null,"45Q","$/Ton of CO2 ",{"$f":"INDEX(H132:U132,$E$2)","v":0},null,85,null,null,null,85,85,85,85,85,85,85,85,85]
[null,null,null,"Term","Years",{"$f":"INDEX(H133:U133,$E$2)","v":0},null,12,null,null,null,12,12,12,12,12,12,12,12,12]
[null,null,null,"Annual Value","$",{"$f":"INDEX(H134:U134,$E$2)","v":0},null,{"$f":"H132*H74","v":0},null,null,null,{"$f":"L132*L74","v":178500000},{"$f":"M132*M74","v":178500000},178500000,178500000,{"$f":"P132*P74","v":178500000},178500000,{"$f":"R132*R74","v":178500000},{"$f":"S132*S74","v":178500000},{"$f":"T132*T74","v":178500000}]
[null,null,null,"PV","$",{"$f":"INDEX(H135:U135,$E$2)","v":0},null,{"$f":"-PV(H126,H133,H134)","v":0},null,null,null,{"$f":"-PV(L126,L133,L134)","v":1216243990.3870134},{"$f":"-PV(M126,M133,M134)","v":1216243990.3870134},1216243990.3870134,1216243990.3870134,{"$f":"-PV(P126,P133,P134)","v":1216243990.3870134},1216243990.3870134,{"$f":"-PV(R126,R133,R134)","v":1216243990.3870134},{"$f":"-PV(S126,S133,S134)","v":1216243990.3870134},{"$f":"-PV(T126,T133,T134)","v":1216243990.3870134}]
[]
[]
[null,"Levelised H2 Cost - Without 45 Q"]
[null,null,null,"H2 Capex per Kg","$/kg",{"$f":"INDEX(H139:U139,$E$2)","v":3.4623630136986305},null,{"$f":"H86/H16","v":5.3504922945205484},3.4623630136986305,3.4623630136986305,3.4623630136986305,8.2191780821917817,8.4269662921348321,8.4269662921348321,8.4269662921348321,8.4269662921348321,8.4269662921348321,8.4269662921348321,8.4269662921348321,8.4269662921348321,3.4623630136986305,null,{"$f":"W86/W16","v":3.4623630136986305}]
[]
[null,null,null,"Levelized Capital Cost","$/kg",{"$f":"INDEX(H141:U141,$E$2)","v":0.36728486567087476},null,{"$f":"-PMT(H126,H76,H139)","v":0.58945342135489009},{"$f":"-PMT(I126,I76,I139)","v":0.36728486567087476},{"$f":"-PMT(J126,J76,J139)","v":0.36728486567087476},{"$f":"-PMT(K126,K76,K139)","v":0.36728486567087476},{"$f":"-PMT(L126,L76,L139)","v":0.87188423221342948},{"$f":"-PMT(M126,M76,M139)","v":0.8939262493199488},0.8939262493199488,0.8939262493199488,{"$f":"-PMT(P126,P76,P139)","v":0.8939262493199488},0.8939262493199488,{"$f":"-PMT(R126,R76,R139)","v":0.8939262493199488},0.8939262493199488,{"$f":"-PMT(T126,T76,T139)","v":0.8939262493199488},0.36728486567087476,null,{"$f":"-PMT(W126,W76,W139)","v":0.36728486567087476}]
[null,null,null,"O&M Cost","$/kg",{"$f":"INDEX(H142:U142,$E$2)","v":0.16273106164383563},null,{"$f":"H105/H16","v":8.025738441780822E-2},0.16273106164383563,0.16273106164383563,0.16273106164383563,0.24657534246575341,0.25280898876404495,0.25280898876404495,0.25280898876404495,0.25280898876404495,0.25280898876404495,0.25280898876404495,0.25280898876404495,0.25280898876404495,0.16273106164383563,null,{"$f":"W105/W16","v":0.16273106164383563}]
[null,null,null,"Feedstock Cost","$/kg",{"$f":"INDEX(H143:U143,$E$2)","v":0.59856119052631573},null,{"$f":"H101","v":0},{"$f":"I101","v":0.59856119052631573},{"$f":"J101","v":0.59856119052631573},{"$f":"K101","v":0.59856119052631573},0.67200000000000004,{"$f":"M101","v":0.67200000000000004},0.67200000000000004,0.67200000000000004,{"$f":"P101","v":0.67200000000000004},0.67200000000000004,{"$f":"R101","v":0.67200000000000004},0.67200000000000004,{"$f":"T101","v":0.67200000000000004},0.59856119052631573,null,{"$f":"W101","v":0.59856119052631573}]
[null,null,null,"LCOH without 45 Q Credit","$/kg",{"$f":"INDEX(H144:U144,$E$2)","v":1.1285771178410262},null,{"$f":"SUM(H141:H143)","v":0.66971080577269837},{"$f":"SUM(I141:I143)","v":1.1285771178410262},{"$f":"SUM(J141:J143)","v":1.1285771178410262},{"$f":"SUM(K141:K143)","v":1.1285771178410262},1.7904595746791832,{"$f":"SUM(M141:M143)","v":1.8187352380839936},1.8187352380839936,1.8187352380839936,{"$f":"SUM(P141:P143)","v":1.8187352380839936},1.8187352380839936,{"$f":"SUM(R141:R143)","v":1.8187352380839936},1.8187352380839936,{"$f":"SUM(T141:T143)","v":1.8187352380839936},1.1285771178410262,null,{"$f":"SUM(W141:W143)","v":1.1285771178410262}]
[]
[null,null,null,"Credit for 45Q over life","$/kg",{"$f":"INDEX(H146:U146,$E$2)","v":0},null,{"$f":"PMT(H126,H76,H135)/H16*H131","v":0},0,0,0,-0.50496378940132336,-0.51772972789742422,-0.51772972789742422,-0.51772972789742422,-0.51772972789742422,-0.51772972789742422,-0.51772972789742422,-0.51772972789742422,-0.51772972789742422,0,null,{"$f":"PMT(W126,W76,W135)/W16*W131","v":0}]
[null,null,null,"Levelized Cost with Credit","$/kg",{"$f":"F144+F146","v":1.1285771178410262},null,{"$f":"H144+H146","v":0.66971080577269837},{"$f":"I144+I146","v":1.1285771178410262},{"$f":"J144+J146","v":1.1285771178410262},{"$f":"K144+K146","v":1.1285771178410262},1.2854957852778597,{"$f":"M144+M146","v":1.3010055101865694},1.3010055101865694,1.3010055101865694,{"$f":"P144+P146","v":1.3010055101865694},1.3010055101865694,{"$f":"R144+R146","v":1.3010055101865694},1.3010055101865694,{"$f":"T144+T146","v":1.3010055101865694},1.1285771178410262,null,{"$f":"W144+W146","v":1.1285771178410262}]
[]
[null,null,null,"Capacity Charge Credit over 10 Years","$/kg",{"$f":"INDEX(H149:U149,$E$2)","v":0},null,{"$f":"PMT(H126,H133,-H135)/H16","v":0},null,null,null,{"$f":"PMT(L126,L133,-L135)/L16","v":0.69863013698630183},0.71629213483146115,0.71629213483146115,0.71629213483146115,0.71629213483146115,0.71629213483146115,0.71629213483146115,0.71629213483146115,0.71629213483146115]
[]
[null,"NH2 Synthesyzer Costs"]
[null,null,null,"NH3 Capex per Ton","$/Ton",{"$f":"INDEX(H152:U152,$E$2)","v":0},null,null,null,null,null,{"$f":"L85/L14","v":571.42857142857144},571.42857142857144,571.42857142857144,571.42857142857144,571.42857142857144,571.42857142857144,571.42857142857144,571.42857142857144,571.42857142857144]
[]
[null,null,null,"Added Levelized Cost","$/Ton"]
[null,null,null,"Levelized Cost of Hydrogen","$/Ton"]
[null,null,null,"Added O&M Cost"]
[null,null,null,"Added Feedstock Cost"]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,null,null,null,null,null,null,null,null,null,"Leakage",{"$f":"L43","v":3.8}]
[]
[]
[null,null,null,null,null,null,null,null,null,{"$f":"L62","v":0},20,30,{"$f":"L172+10","v":40},{"$f":"M172+10","v":50},60]
[null,null,null,null,null,null,null,null,null,0,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,0.05,144715200,144715200,144715200,144715200,144715200]
[null,null,null,null,null,null,null,null,null,{"$f":"J174+5%","v":0.1},136130400,136130400,136130400,136130400,136130400]
[null,null,null,null,null,null,null,null,"RNG Blend",{"$f":"J175+5%","v":0.15000000000000002},165870600,165870600,165870600,165870600,165870600]
[null,null,null,null,null,null,null,null,null,0.2,157285800,157285800,157285800,157285800,157285800]
[null,null,null,null,null,null,null,null,null,0.25,212576000,212576000,212576000,212576000,212576000]
[null,null,null,null,null,null,null,null,null,0.3,714991200,714991200,714991200,714991200,714991200]
[null,null,null,null,null,null,null,null,null,0.35,-60093599.999999993,-60093599.999999993,-60093599.999999993,-60093599.999999993,-60093599.999999993]

{"sheet":"IRA Inputs","index":9,"n_rows":263,"n_cols":21,"rows_kept":263,"cut":false,"hidden":false,"merged":[]}
[null,{"$f":"RIGHT(CELL(\"filename\", B1), LEN(CELL(\"filename\", B1)) - SEARCH(\"]\", CELL(\"filename\", B1)))","v":"IRA Inputs"}]
[]
[]
[]
[null,"Tax Depreciation"]
[]
[null,null,"Bonus Depreciation - Solar"]
[null,null,null,"Calendar Year",null,2018,2023,2024,2025,2026,2027]
[null,null,null,"Percent Bonus Depreciation","%",1,0.8,0.6,0.4,0.2,0]
[null,null,null,"Remainin MACRS ","%",0,0.19999999999999996,0.4,0.6,0.8,1]
[]
[null,null,null,"A business with a solar PV system placed in service between January 1, 2018, and December 31, 2022, can elect to claim a 100% bonus depreciation. "]
[null,null,null,"Starting in 2023, the percentage of capital equipment that can be expensed immediately drops 20% per year (e.g., 80% in 2023 and 60% in 2024) until the provision drops to 0% in 2027.[34]"]
[]
[null,null,"Bonus Depreciation - Energy Efficiency",null,"%",1,0.8,0.6,0.4,0.2,0]
[]
[null,"MACRS Depreciation"]
[null,null,"Depreciation Life",null,"Years",5]
[null,null,"Apply 1/2 Year",null,"Flag",true]
[]
[null,null,"ITC Reduction to Base for Depreciation",null,"%",0.5]
[]
[null,null,"Year",null,null,0,1,2,3,4,5,6,7]
[null,null,null,"Declining Balance",2,null,0.4,0.24,0.14399999999999999,0.108,0.108]
[null,null,null,"1/2 Year",null,null,0.2,0.32,0.192,0.126,0.108,5.3999999999999999E-2]
[]
[null,null,null,"Date of Solar Operation",null,"2024-09-01"]
[null,null,null,"Apply 1/2 Year",null,false]
[]
[null,null,null,"Depreciation Rate Applied",null,null,0.4,0.24,0.14399999999999999,0.108,0.108,0]
[]
[null,null,"Straight Line Depreciation for Building Modifications",null,null,39]
[]
[null,"Solar Flags - ITC"]
[null,null,"ITC Flag (ITC is TRUE; PTC is FALSE)",null,null,true]
[]
[null,null,"Meets Labor Requirements",null,null,true]
[null,null,"Does not Meet Labor Requirement",null,null,false]
[]
[null,null,"Domestic Content Bonus",null,null,true]
[null,null,"Energy Community Bonus",null,null,true]
[]
[null,null,"Less than 5 MW in LMI Community",null,null,true]
[null,null,"Indian Land",null,null,true]
[]
[null,null,"Qualified Low-income Residential",null,null,false]
[null,null,"Qualified Low-income Economic Benefit",null,null,false]
[]
[null,null,"Total ITC"]
[]
[null,null,null,null,null,"Start of Construction"]
[]
[null,"ITC",null,null,null,2019,2020,2021,2022,2023,2034,2035,2036]
[]
[null,null,"Meets Labor Requirement"]
[null,null,null,"Base Credit",null,0.3,0.26,0.3,0.3,0.3,0.22500000000000001,0.15,0]
[null,null,null,"Domestic Content Bonus",null,null,null,null,null,0.1,7.4999999999999997E-2,0.05,0]
[null,null,null,"Energy Community Bonus",null,null,null,null,null,0.1,7.4999999999999997E-2,0.05,0]
[]
[null,null,"Does Not Meet Labor Requirement"]
[null,null,null,"Base Credit",null,0.3,0.26,0.06,4.4999999999999998E-2,0.03,0,0.15,0]
[null,null,null,"Domestic Content Bonus",null,null,null,null,null,0.02,1.4999999999999999E-2,0.01,0]
[null,null,null,"Energy Community Bonus",null,null,null,null,null,0.02,1.4999999999999999E-2,0.01,0]
[]
[null,null,"Low Income Bonus"]
[null,null,null,"Less than 5 MW in LMI Community",null,null,null,null,0.1,0.1,0.1,0.1,0.1]
[null,null,null,"Qualified Low-income Economic Benefit",null,null,null,null,0.2,0.2,0.2,0.2,0.2]
[]
[]
[null,"PTC - Cents/kWh 2022",null,null,null,null,null,2021,2022,2023,2034,2035,2036]
[]
[null,null,"Meets Labor Requirement"]
[null,null,null,"Base Credit",null,null,null,null,2.6,2.6,2,1.3,0]
[null,null,null,"Domestic Content Bonus",null,null,null,null,null,0.3,0.2,0.1,0]
[null,null,null,"Energy Community Bonus",null,null,null,null,null,0.3,0.2,0.1,0]
[]
[null,null,"Does Not Meet Labor Requirement"]
[null,null,null,"Base Credit",null,null,null,null,0.5,0.5,0.4,0.3,0]
[null,null,null,"Domestic Content Bonus",null,null,null,null,null,0.1,0,0,0]
[null,null,null,"Energy Community Bonus",null,null,null,null,null,0.1,0.1,0.1,0]
[]
[null,null,null,null,null,null,null,2021,2022,2023,2034,2035,2036]
[null,null,null,"PTC Inflation per Year",null,null,null,0.01,0.05,0.03,0.02,0.02,0.02]
[]
[null,null,null,"PTC Inflation Month","2020-01-01","January",1]
[]
[null,"Hydrogen - USD/kg"]
[]
[]
[null,"United States"]
[]
[]
[null,null,"The IRA creates a new tax credit (26 USC 45V – 45V in what follows) to subsidize the production of “clean” hydrogen."]
[]
[null,null," Hydrogen producers have the option of either "]
[null,null,null,"receiving a credit equal to a specified dollar value per kilogram of hydrogen produced (a production tax credit; PTC) "]
[null,null,null,"or a tax credit equal to a specified fraction of their capital expenses (an investment tax credit; ITC). "]
[]
[null,null,"These values depend on the life cycle greenhouse gas emissions associated with the hydrogen production "]
[null,null,"and whether or not the hydrogen producer complies with the prevailing wage and apprenticeship requirements in the bill. "]
[]
[]
[]
[null,null,null,null,null,null,null,null,null,"Term of PTC",10,"Years"]
[]
[null,null,null,null,null,null,null,null,null,null,"High","Low","ITC","PTC"]
[null,null,null,null,null,null,null,null,null,null,"kg CO2","kg CO2","%","USD/kg"]
[]
[null,null,null,null,null,null,null,null,null,"kg CO2/kgH2",4,2.5,0.06,0.6]
[]
[null,null,null,null,null,null,null,null,null,"kg CO2/kgH2",2.5,1.5,7.4999999999999997E-2,0.75]
[]
[null,null,null,null,null,null,null,null,null,"kg CO2/kgH2",1.5,0.45,0.1,1]
[]
[null,null,null,null,null,null,null,null,null,"kg CO2/kgH2",0.45,0,0.3,3]
[]
[]
[null,null,"45Q",null,null,null,null,null,null,"Term of 45Q",null,null,12,"Years"]
[]
[null,null,"$85/tonne for sequestered carbon dioxide and $60/tonne for utilized carbon dioxide, including for EOR",null,null,null,null,null,null,"USD per Metric Tonnes Squestered",null,null,85]
[null,null,null,null,null,null,null,null,null,"Tonnes/kg",null,null,1000]
[null,null,null,null,null,null,null,null,null,"USD per kg sequestered",null,null,{"$f":"M120/M121","v":8.5000000000000006E-2}]
[null,null,"A direct air capture facility must capture at least 1,000 metric tonnes per year."]
[null,null,"An electric generator must capture at least 18,750 metric tonnes per year and have a designed capture rate of at least 75 percent with respect to a baseline."]
[null,null,"Any other facility must capture at least 12,500 metric tonnes per year."]
[]
[null,null,"The same reductions for tax-exempt bonds as for the 45V PTC and the same provisions that allow direct payments also apply to the 45Q credit."]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,"Building Perspective"]
[]
[]
[null,null,null,null,null,"https://www.energy.gov/sites/default/files/2022-10/Comparison-ITC-PTC-w-bonus-depreciation-Chart.png"]
[]
[null,null,null,null,null,"https://www.energy.gov/sites/default/files/2022-10/"]
[]
[null,null,null,null,null,"https://www.energy.gov/eere/solar/federal-solar-tax-credits-businesses"]
[]
[null,null,"Solar systems that are placed in service in 2022 or later and begin construction before 2033 are eligible for a 30% ITC or a 2.6 ¢/kWh[3] "]
[null,null,"PTC if they meet labor requirements issued by the Treasury Department[4] or are under 1 megawatt (MW)[5] in size."]
[]
[]
[]
[]
[]
[]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,"Start of Construction"]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,2019,2020,2021,2022,2023,2034,2035,2036]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Base Credit",null,0.3,0.26,0.3,0.3,0.3,0.22500000000000001,0.15,0]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Domestic Content Bonus",null,null,null,null,null,0.1,7.4999999999999997E-2,0.05,0]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Energy Community Bonus",null,null,null,null,null,0.1,7.4999999999999997E-2,0.05,0]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Base Credit",null,0.3,0.26,0.06,4.4999999999999998E-2,0.03,0,0.15,0]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Domestic Content Bonus",null,null,null,null,null,0.02,1.4999999999999999E-2,0.01,0]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Energy Community Bonus",null,null,null,null,null,0.02,1.4999999999999999E-2,0.01,0]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Cap per Year",null,1800,"MWH"]
[null,null,null,null,null,null,null,null,null,null,null,"Less than 5 MW in LMI Community",null,null,null,null,0.1,0.1,0.1,0.1,0.1]
[]
[]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Qualified Low-income Economic Benefit",null,null,null,null,0.2,0.2,0.2,0.2,0.2]
[]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Base Credit",null,null,null,null,2.6,2.6,2,1.3,0]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Domestic Content Bonus",null,null,null,null,null,0.3,0.2,0.1,0]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Energy Community Bonus",null,null,null,null,null,0.3,0.2,0.1,0]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Base Credit",null,null,null,null,0.5,0.5,0.4,0.3,0]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Domestic Content Bonus",null,null,null,null,null,0.1,0,0,0]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Energy Community Bonus",null,null,null,null,null,0.1,0.1,0.1,0]
[]
[]
[]
[]
[]
[]
[]
[null,null,null,"To calculate the ITC, you multiply the applicable tax credit percentage by the “tax basis,” or the amount spent on eligible property. Eligible property includes the following:"]
[]
[null,null,null,"Solar PV panels, inverters, racking, balance-of-system equipment, and sales and use taxes on the equipment;"]
[null,null,null,"CSP equipment necessary to generate electricity, heat or cool a structure, or to provide solar process heat;"]
[null,null,null,"Installation costs and certain prorated indirect costs;"]
[null,null,null,"Step-up transformers, circuit breakers, and surge arrestors;"]
[null,null,null,"Energy storage devices that have a capacity rating of 5 kilowatt hours or greater (even if not charged with solar)[9]"]
[null,null,null,"For projects 5 MW or less, the tax basis can include the interconnection property costs spent by the project owner to "]
[null,null,null,"enable distribution and transmission of the electricity produced or stored by the system—this can include costs that "]
[null,null,null,"are incurred beyond the point at which the energy property interconnects to the distribution or transmission systems. [10]"]
[]
[null,null,null,"Most taxpayers who claim the business solar ITC can use an accelerated depreciation schedule[29], which allows for a greater depreciation expense in the early years of the life of an asset, and effectively "]
[null,null,null,"reducing the overall cost of a solar installation.[30] Depreciation is considered an expense, so having a larger amount to depreciate during the tax year results in a smaller overall tax liability."]
[]
[]
[null,null,null,"Note that while the ITC is a tax credit—a dollar-for-dollar reduction in taxes owed—depreciation is a deduction, meaning it only reduces a business’s taxes by the depreciation amount"]
[null,null,null," multiplied by the business’s tax rate (see below for an example)."]
[null,null,null,"When the business ITC is claimed, accelerated depreciation rules allow the full tax basis minus half the ITC[31] to be depreciated over a five-year depreciation schedule using a half-year convention.[32] "]
[null,null,null,"Any unused depreciation can be carried forward indefinitely.[33] Under the rules of this depreciation schedule, taxpayers are allowed to deduct a larger portion of this amount in earlier years, "]
[null,null,null,"giving them the benefit of a greater immediate reduction in federal tax liability."]
[]
[]
[null,null,null,"The production tax credit (PTC) is a per kilowatt-hour (kWh) tax credit for electricity generated by solar and other qualifying technologies for the first 10 years of a system’s operation. "]
[null,null,null,"It reduces the federal income tax liability and is adjusted annually for inflation.[2]"]
[]
[null,null,null,"Generally, project owners cannot claim both the ITC and the PTC for the same property, although they could claim different credits for co-located systems, like solar and storage, "]
[null,null,null,"depending on what further guidance is issued by the IRS. Other types of renewable energy and storage technologies are also eligible for the ITC but are beyond the scope of this webpage."]
[]
[null,null,null,"Solar systems that are placed in service in 2022 or later and begin construction before 2033 are eligible for a 30% ITC "]
[null,null,null,"or a 2.6 ¢/kWh[3] PTC if they meet labor requirements issued by the Treasury Department[4] or are under 1 megawatt (MW)[5] in size."]
[]
[null,null,null,"The PTC, as written, has a full value of 1.5 ¢/kWh in 1992 dollars, but is adjusted each year using “GDP implicit price deflator” published by the Department of Commerce. "]
[null,null,null,"The reduced “base rate” offered to solar systems that do not meet the prevailing wage and apprenticeship requirements has a value of 0.3 ¢/kWh in 1992 dollars. In the event of rounding, "]
[null,null,null,"the 1.5 ¢/kWh rate is rounded to the nearest 0.1 cent, while the 0.3 ¢/kWh is rounded to the nearest 0.05 cent. "]
[null,null,null,"The Internal Revenue Service publish a 2022 value of 2.6 ¢/kWh in May. Some have argued that with the passage of IRA, "]
[null,null,null,"this value should be increased, however Treasury has yet to issue additional guidance."]

{"sheet":"IEA Hydrogen Data","index":10,"n_rows":58,"n_cols":16,"rows_kept":58,"cut":false,"hidden":false,"merged":[]}
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,"kWh/kg",33.33]
[null,null,null,null,null,null,null,null,null,null,null,null,"Effeciancy",0.64]
[null,null,null,null,null,null,null,null,null,null,null,null,"kWh/kg",{"$f":"N18/N19","v":52.078124999999993}]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,"H2 kWh/kg","kwh/kg",33.33]
[null,null,null,null,null,null,null,null,null,null,null,null,null,"Conversion","BTU/kWh",3412.14]
[null,null,null,null,null,null,null,null,null,null,null,null,null,"H2 BTU/kg","BTU/kWh",{"$f":"P22*P23","v":113726.62619999998}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,"H2 MMBTU/kg","MMBTU/kWh",{"$f":"P24/1000000","v":0.11372662619999999}]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,"Conversion","BTU/kWh",{"$f":"P23/1000000","v":3.4121399999999997E-3}]
[null,null,null,"Term of PTC",10,"Years"]
[]
[null,null,null,null,"High","Low","ITC","PTC"]
[null,null,null,null,"kg CO2","kg CO2","%","USD/kg"]
[]
[null,null,null,"kg CO2/kgH2",4,2.5,0.06,0.6]
[]
[null,null,null,"kg CO2/kgH2",2.5,1.5,7.4999999999999997E-2,0.75]
[]
[null,null,null,"kg CO2/kgH2",1.5,0.45,0.1,1]
[]
[null,null,null,"kg CO2/kgH2",0.45,0,0.3,3]
[]
[]
[null,null,null,"Term of 45Q",null,null,12,"Years"]
[]
[null,null,null,"USD per Metric Tonnes Squestered",null,null,85,null,null,null,null,1.5]
[null,null,null,"Tonnes/kg",null,null,1000,null,null,null,null,{"$f":"_xlfn.XLOOKUP(L44,50:50,54:54,0,-1)","v":1},{"$f":"_xlfn.FORMULATEXT(L45)","v":"=XLOOKUP(L44,50:50,54:54,0,-1)"}]
[null,null,null,"USD per kg sequestered",null,null,{"$f":"G44/G45","v":8.5000000000000006E-2}]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,"Level total Rate"]
[null,null,null,"High",4,4,2.5,1.5,0.45,0,null,null,null,"Bottoms Up Rate"]
[null,null,null,"Low - CO2 kg/H2/hg",4,2.5,1.5,0.45,{"$f":"F39","v":0},0,null,null,null,"Inflation Rate"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,"3 Part Rate"]
[null,null,null,"ITC",0,{"$f":"G33","v":0.06},7.4999999999999997E-2,0.1,0.3,0.3]
[null,null,null,"PTC",0,{"$f":"H33","v":0.6},0.75,1,3,3]
[null,null,null,null,null,null,null,null,null,null,null,null,null,"LCOH"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,"WACC and Target ROE"]
[null,null,null,null,null,1.49]
[null,null,null,null,null,{"$f":"_xlfn.XLOOKUP(F57,50:50,54:54,0,-1)","v":3}]

{"sheet":"Hydrogen Financial Model","index":11,"n_rows":356,"n_cols":51,"rows_kept":356,"cut":false,"hidden":false,"merged":[]}
[null,null,null,{"$f":"Inputs!F5","v":"SMR - 72% Capture"}]
[null,null,null,"Year",null,"Constant","Constant",null,"Sum",0,1,2,3,4,5,6,7,8,9,10,11,12,13,14,15,16,17,18,19,20,21,22,23,24,25,26,27,28,29,30,31,32,33,34,35,36,37,38,39,40,41]
[null,null,null,"Construction Period",null,0,null,null,null,{"$f":"(J2=$F$3)*1","v":1},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"(AO2=$F$3)*1","v":0},0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Operation Period",null,{"$f":"Inputs!F76","v":30},null,null,null,{"$f":"(AND(NOT(J3),J2<=$F$4))*1","v":0},{"$f":"(AND(NOT(K3),K2<=$F$4))*1","v":1},1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,{"$f":"(AND(NOT(AO3),AO2<=$F$4))*1","v":0},0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Term of 45Q",null,{"$f":"Inputs!L133","v":12},null,null,null,null,{"$f":"(K$2<=$F5)*1","v":1},{"$f":"(L$2<=$F5)*1","v":1},1,1,1,1,1,1,1,1,1,1,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Stack Replacement Period"]
[]
[null,"Production"]
[null,null,null,"H2 Capacity","kgy",{"$f":"Inputs!F16","v":249200000},null,null,null,{"$f":"$F$9*J4","v":0},{"$f":"$F$9*K4","v":249200000},249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Availability","%",{"$f":"Inputs!F21","v":1},null,null,null,{"$f":"$F$10*J4","v":0},{"$f":"$F$10*K4","v":1},1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"H2 Production","kgy",null,null,null,null,{"$f":"J9*J10","v":0},{"$f":"K9*K10","v":249200000},249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,249200000,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,null,"Efficiency","MMBTU/kg",{"$f":"Inputs!F28","v":0.14964029763157893},null,null,null,null,{"$f":"$F13","v":0.14964029763157893},{"$f":"$F13","v":0.14964029763157893},0.14964029763157893,0.14964029763157893,0.14964029763157893,0.14964029763157893,0.14964029763157893,0.14964029763157893,0.14964029763157893,0.14964029763157893,0.14964029763157893,0.14964029763157893,0.14964029763157893,0.14964029763157893,0.14964029763157893,0.14964029763157893,0.14964029763157893,0.14964029763157893,0.14964029763157893,0.14964029763157893,0.14964029763157893,0.14964029763157893,0.14964029763157893,0.14964029763157893,0.14964029763157893,0.14964029763157893,0.14964029763157893,0.14964029763157893,0.14964029763157893,0.14964029763157893,{"$f":"$F13","v":0.14964029763157893},0.14964029763157893,0.14964029763157893,0.14964029763157893,0.14964029763157893,0.14964029763157893,0.14964029763157893,0.14964029763157893,0.14964029763157893,0.14964029763157893,0.14964029763157893]
[null,null,null,"NG Purchased","MMBTU ",null,null,null,null,null,{"$f":"K11*K13","v":37290362.169789471},37290362.169789471,37290362.169789471,37290362.169789471,37290362.169789471,37290362.169789471,37290362.169789471,37290362.169789471,37290362.169789471,37290362.169789471,37290362.169789471,37290362.169789471,37290362.169789471,37290362.169789471,37290362.169789471,37290362.169789471,37290362.169789471,37290362.169789471,37290362.169789471,37290362.169789471,37290362.169789471,37290362.169789471,37290362.169789471,37290362.169789471,37290362.169789471,37290362.169789471,37290362.169789471,37290362.169789471,37290362.169789471,37290362.169789471,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,null,"Efficiency Before Degradation","kWh/kg"]
[null,null,null,"Degradation","% p.a."]
[null,null,null,"Degradation Re-set","Flag"]
[null,null,null,"Degradation Index","Index"]
[null,null,null,"Final Efficiency","kWh/kg"]
[null,null,null,"Electricity Purchased","kWh "]
[]
[null,"Pre-tax without 45Q"]
[null,null,"Levelized Price without 45Q"]
[null,null,null,"H2 Price","$/kg",{"$f":"Inputs!F144","v":1.1285771178410262},null,null,null,null,{"$f":"$F25","v":1.1285771178410262},1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262]
[null,null,null,"Inflation","%",{"$f":"Inputs!L110","v":0.02},null,null,null,null,{"$f":"$F$26","v":0.02},0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02]
[null,null,null,"Inflation Index","Index",null,null,null,null,1,{"$f":"J27*(1+K26)","v":1.02},{"$f":"K27*(1+L26)","v":1.0404},1.0612079999999999,1.08243216,1.1040808032,1.1261624192640001,1.14868566764928,1.1716593810022657,1.1950925686223111,1.2189944199947573,1.2433743083946525,1.2682417945625455,1.2936066304537963,1.3194787630628724,1.3458683383241299,1.3727857050906125,1.4002414191924248,1.4282462475762734,1.4568111725277988,1.4859473959783549,1.5156663438979221,1.5459796707758806,1.5768992641913981,1.6084372494752261,1.6406059944647307,1.6734181143540252,1.7068864766411058,1.7410242061739281,1.7758446902974065,1.8113615841033548,{"$f":"AN27*(1+AO26)","v":1.8475888157854219},1.8845405921011305,1.9222314039431532,1.9606760320220162,1.9998895526624565,2.0398873437157055,2.0806850905900198,2.1222987924018204,2.1647447682498568,2.208039663614854,2.252200456887151]
[null,null,null,"Inflation Index Applied","Index",{"$f":"Inputs!F111","v":false},null,null,null,null,{"$f":"IF($F$28,K27,1)","v":1},1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1]
[]
[null,null,null,"Revenues without Inflatoin","USD",null,null,null,{"$f":"SUM(K30:XFD30)","v":8437242532.9795094},null,{"$f":"K25*K11","v":281241417.76598376},281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Revenues Inflation","USD",null,null,null,{"$f":"SUM(K31:XFD31)","v":8437242532.9795094},null,{"$f":"K28*K30","v":281241417.76598376},281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,null,"Gas Price","$/MMBTU",{"$f":"Inputs!F99","v":4},null,null,null,null,{"$f":"$F33*K28","v":4},4,4,4,4,4,4,4,4,4,4,4,4,4,4,4,4,4,4,4,4,4,4,4,4,4,4,4,4,4,4,4,4,4,4,4,4,4,4,4,4]
[null,null,null,"Gas Cost","USD",null,null,null,{"$f":"SUM(K34:XFD34)","v":4474843460.3747358},null,{"$f":"K14*K33","v":149161448.67915788},149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,null,"Electricity Price","$/kWh"]
[null,null,null,"Electricity Cost","USD"]
[]
[null,null,null,"Other Operating Cost","USD",{"$f":"Inputs!F105","v":40552580.561643839},null,null,{"$f":"SUM(K39:XFD39)","v":1216577416.8493152},null,{"$f":"$F39*K28*K4","v":40552580.561643839},40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Total Operation Cost","USD"]
[]
[null,null,null,"Capital Expenditure","USD",{"$f":"Inputs!F86","v":862820863.0136987},null,null,{"$f":"SUM(J42:XFD42)","v":862820863.0136987},{"$f":"F42","v":862820863.0136987}]
[]
[null,null,null,"Pre-tax Free Cash Flow","$",null,null,null,{"$f":"SUM(J44:XFD44)","v":1883000792.7417619},{"$f":"J31-J34-J39-J42","v":-862820863.0136987},91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Pre-tax IRR Check","%",{"$f":"IRR(J44:AY44)","v":0.10000000000000009}]
[]
[null,null,"Financial Statements with Tax without 45Q"]
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[null,null,null,"Debt Issue","$"]
[null,null,null,"Equity Issue","$"]
[]
[null,null,null,"Opening Balance","$"]
[null,null,null,"Add: Draws","$"]
[null,null,null,"Less: Repayments","$"]
[null,null,null,"Closing Balance","$"]
[null,null,null,"Interest ","$",{"$f":"Inputs!F120","v":0.05}]
[]
[null,null,null,"EBITDA","$",null,null,null,null,null,{"$f":"K31-K34-K39","v":91527388.525182039},{"$f":"L31-L34-L39","v":91527388.525182039},91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Less: Depreciation","$",{"$f":"F42","v":862820863.0136987},{"$f":"F4","v":30},null,null,null,{"$f":"$F$59/$G$59*K4","v":28760695.433789957},{"$f":"$F$59/$G$59*L4","v":28760695.433789957},28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"EBIT ","$",null,null,null,null,null,{"$f":"K58-K59","v":62766693.091392085},{"$f":"L58-L59","v":62766693.091392085},62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Less: Interest","$"]
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[null,null,null,"Less Taxes","$",{"$f":"Inputs!F115","v":0},null,null,null,null,{"$f":"K62*$F$63","v":0},{"$f":"L62*$F$63","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Net Income","$",null,null,null,null,null,{"$f":"K62-K63","v":62766693.091392085},{"$f":"L62-L63","v":62766693.091392085},62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,62766693.091392085,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,null,"EBITDA","$",null,null,null,null,null,{"$f":"K58","v":91527388.525182039},{"$f":"L58","v":91527388.525182039},91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Less: Tax","$",null,null,null,null,null,{"$f":"K63","v":0},{"$f":"L63","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Operating Cash Flow","$",null,null,null,null,null,{"$f":"K66-K67","v":91527388.525182039},{"$f":"L66-L67","v":91527388.525182039},91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,null,"Less: Investing Cash Flow","$",null,null,null,null,{"$f":"-J42","v":-862820863.0136987},{"$f":"-K42","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,null,"Debt Issued","$",{"$f":"Inputs!F123","v":0},null,null,null,{"$f":"$F72*J$70*-1","v":0},{"$f":"$F72*K$70*-1","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Equity Issued","$",{"$f":"1-F72","v":1},null,null,null,{"$f":"$F73*J$70*-1","v":862820863.0136987},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Less: Interest Expense","$"]
[null,null,null,"Less: Repayment","$"]
[null,null,null,"Less: Dividends","$"]
[null,null,null,"Total Financing Cash Flow","$"]
[]
[null,null,"Balance Sheet"]
[null,null,null,"Assets","$"]
[null,null,null,"Gross Plant","$"]
[null,null,null,"Less: Accumulated Depreciation","$"]
[null,null,null,"Net Plant","$"]
[]
[null,null,null,"Liabilites and Equity","$"]
[null,null,null,"Total Debt","$"]
[]
[null,null,null,"Opening Equity Balance","$"]
[null,null,null,"Add: Equity Issues","$"]
[null,null,null,"Add: Net Income","$"]
[null,null,null,"Less: Dividends","$"]
[null,null,null,"Closing Balance","$"]
[null,null,null,"Total Liabilities and Equity","$"]
[]
[null,null,null,"Difference"]
[null,null,null,"Test"]
[]
[null,null,null,"Return on Equity"]
[]
[]
[]
[null,"Analysis with CO2 Sequester and 45Q Credit -- Charge Spread over Life of Project"]
[null,null,null,"CO2 Sequested",null,{"$f":"Inputs!F74","v":0},null,null,null,null,{"$f":"$F103","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"45Q Incentive without Inflation",null,{"$f":"Inputs!L132","v":85},null,null,null,null,{"$f":"$F104*K$5*K28","v":85},{"$f":"$F104*L$5*L28","v":85},85,85,85,85,85,85,85,85,85,85,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Inflation Index"]
[null,null,null,"45Q Incentive with Inflation"]
[]
[null,null,null,"45Q Cash Flow",null,{"$f":"Inputs!L131","v":true},null,null,null,null,{"$f":"K104*K103*$F$108","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,null,"Levelized Cost with 45Q","$/kg",{"$f":"Inputs!$F$147","v":1.1285771178410262},null,null,null,null,{"$f":"$F$110*K28","v":1.1285771178410262},1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262]
[]
[null,null,null,"Revenues with 45Q Credit","$",null,null,null,null,null,{"$f":"K110*K11","v":281241417.76598376},281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,281241417.76598376,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Operating Expenses","$",null,null,null,null,null,{"$f":"K34+K39","v":189714029.24080172},189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Add: 45Q Tax Credit","$",null,null,null,null,null,{"$f":"K108","v":0},{"$f":"L108","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Operating Cash Flow","$",null,null,null,null,null,{"$f":"K112-K113+K114","v":91527388.525182039},{"$f":"L112-L113+L114","v":91527388.525182039},91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,null,"Pre-tax Cash Flow with 45Q Credit","$",null,null,null,null,{"$f":"J112-J39-J34+J108-J42","v":-862820863.0136987},{"$f":"K112-K39-K34+K108","v":91527388.525182039},91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Pre-tax IRR",null,{"$f":"IRR(J117:AY117)","v":0.10000000000000009}]
[]
[null,null,"Financing Cash Flow"]
[null,null,null,"Financing Requirements","$",null,null,null,null,{"$f":"J42","v":862820863.0136987},{"$f":"K42","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Equity Financing of Capital Expenditures","$",{"$f":"1-Inputs!F123","v":1},null,null,null,{"$f":"$F$122*J42","v":862820863.0136987},{"$f":"$F$122*K42","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Debt Financing of Capital Expenditures","$",{"$f":"1-F122","v":0},null,null,null,{"$f":"J121*$F$123","v":0},{"$f":"K121*$F$123","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,null,"Straight Line Depreciation","$",{"$f":"F42","v":862820863.0136987},{"$f":"F4","v":30},null,null,null,{"$f":"$F$125/$G$125*K4","v":28760695.433789957},28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,28760695.433789957,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Value Change in Plant","$",{"$f":"Inputs!F125","v":0.1},null,null,null,{"$f":"NPV($F$126,K117:AY117)","v":862820863.01369846},857575560.78988636,851805728.34369302,845458912.65288043,838477415.39298642,830797768.40710318,822350156.72263157,813057783.86971283,802836173.73150218,791592402.5794704,779224254.31223547,765619291.2182771,750653831.81492281,734191826.47123313,716083620.59317446,696164594.12730992,674253665.01485896,650151642.9911629,623639418.76509726,594475972.11642504,562396180.80288541,527108410.35799205,488291862.86860931,445593660.63028824,398625638.16813511,346960813.45976657,290129506.28056121,227615068.38343537,158849186.69659689,83206716.841074571,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Economic Depreciation","$",null,null,null,null,null,{"$f":"J126-K126","v":5245302.2238121033},{"$f":"K126-L126","v":5769832.4461933374},6346815.6908125877,6981497.2598940134,7679646.9858832359,8447611.6844716072,9292372.8529187441,10221610.138210654,11243771.152031779,12368148.267234921,13604963.093958378,14965459.403354287,16462005.34368968,18108205.878058672,19919026.465864539,21910929.112450957,24102022.023696065,26512224.226065636,29163446.648672223,32079791.313539624,35287770.44489336,38816547.489382744,42698202.238321066,46968022.462153137,51664824.70836854,56831307.179205358,62514437.89712584,68765881.686838478,75642469.85552232,83206716.841074571,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Debt Percent","$",{"$f":"Inputs!F123","v":0},null,null,null,{"$f":"$F$128*J127","v":0},{"$f":"$F$128*K127","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[]
[null,null,null,"Opening Balance","$",null,null,null,null,{"$f":"I134","v":0},{"$f":"J134","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Add: Debt Financing","$",null,null,null,null,{"$f":"J123","v":0},{"$f":"K123","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Less: Repayment","$",null,null,null,null,null,{"$f":"K128","v":0},{"$f":"L128","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Closing Balance","$",null,null,null,null,{"$f":"J131+J132-J133","v":0},{"$f":"K131+K132-K133","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,null,"Interest Expense","$",{"$f":"Inputs!F120","v":0.05},null,null,null,{"$f":"J131*$F$136","v":0},{"$f":"K131*$F$136","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,null,"Operating Cash Flow","$",null,null,null,null,{"$f":"J115","v":0},{"$f":"K115","v":91527388.525182039},{"$f":"L115","v":91527388.525182039},91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Less: Debt Service","$",null,null,null,null,{"$f":"J136+J133","v":0},{"$f":"K136+K133","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Dividends","$",null,null,null,null,{"$f":"J138-J139","v":0},{"$f":"K138-K139","v":91527388.525182039},91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,"Financial Statements for Case with Levelised Credit for 45Q over Life of Project"]
[]
[null,null,"Income Statement"]
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[null,null,null,"Less: Operating Expenses","$",null,null,null,null,null,{"$f":"K34+K39","v":189714029.24080172},189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"EBITDA","$",null,null,null,null,null,{"$f":"K145-K146","v":91527388.525182039},{"$f":"L145-L146","v":91527388.525182039},91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Less: Depreciation","$","Apply SL",{"$f":"Inputs!$F$129","v":false},null,null,null,{"$f":"IF($G$148,K125,K127)","v":5245302.2238121033},5769832.4461933374,6346815.6908125877,6981497.2598940134,7679646.9858832359,8447611.6844716072,9292372.8529187441,10221610.138210654,11243771.152031779,12368148.267234921,13604963.093958378,14965459.403354287,16462005.34368968,18108205.878058672,19919026.465864539,21910929.112450957,24102022.023696065,26512224.226065636,29163446.648672223,32079791.313539624,35287770.44489336,38816547.489382744,42698202.238321066,46968022.462153137,51664824.70836854,56831307.179205358,62514437.89712584,68765881.686838478,75642469.85552232,83206716.841074571,0,0,0,0,0,0,0,0,0,0,0]
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[null,null,null,"Investing Cash Flow","$",null,null,null,null,{"$f":"-J42","v":-862820863.0136987},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
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[null,null,null,"Financing Cash Flow"]
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[null,null,null,"Total Financing Cash Flow"]
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[null,null,"Balance Sheet"]
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[]
[null,null,null,"Debt to Capital",null,{"$f":"Inputs!F123","v":0},null,null,null,{"$f":"$F$192","v":0},{"$f":"K182/K180","v":0},{"$f":"L182/L180","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"}]
[null,null,null,"Debt Amount",null,null,null,null,null,{"$f":"J192*J180","v":0},{"$f":"K192*K180","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"}]
[null,null,null,"Equity Amount",null,null,null,null,null,null,{"$f":"J193-K193","v":0},{"$f":"K193-L193","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"}]
[]
[null,null,"Bottoms-Up Method"]
[null,null,null,"After-tax WACC"]
[null,null,null,"Rate Base"]
[null,null,null,"Net Operating Income After Tax"]
[null,null,null,"Add: Operating Expense"]
[null,null,null,"Required Revenues"]
[]
[null,null,null,"Production"]
[null,null,null,"Total Tariff","$/kg"]
[null,null,null,"Less: O&M Tariff","$/kg"]
[null,null,null,"Less: Feedstock Tariff","$/kg"]
[null,null,null,"Add: 45Q Credit Tariff","$/kg"]
[null,null,null,"Implied Capital Recovery Tariff","$/kg"]
[]
[null,null,"Graphs"]
[null,null,null,null,null,null,null,null,null,null,{"$f":"IF(K4,K2,NA())","v":1},2,3,4,5,6,7,8,9,10,11,12,13,14,15,16,17,18,19,20,21,22,23,24,25,26,27,28,29,30,{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"}]
[null,null,null,"Net Cash Flow",null,null,null,null,null,null,{"$f":"K173","v":91527388.525182039},{"$f":"L173","v":91527388.525182039},91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,91527388.525182039,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,{"$f":"K211","v":1},{"$f":"L211","v":2},3,4,5,6,7,8,9,10,11,12,13,14,15,16,17,18,19,20,21,22,23,24,25,26,27,28,29,30,{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"}]
[null,null,null,"Return on Equity",null,null,null,null,null,null,{"$f":"K190","v":0.10000000000000007},{"$f":"L190","v":0.10000000000000005},0.10000000000000014,9.999999999999995E-2,0.10000000000000016,0.1000000000000001,0.10000000000000014,0.10000000000000009,0.10000000000000002,0.10000000000000006,0.10000000000000012,0.10000000000000002,0.10000000000000007,0.10000000000000005,0.10000000000000005,0.10000000000000009,0.10000000000000007,0.10000000000000014,0.1000000000000001,9.9999999999999811E-2,0.1000000000000002,0.10000000000000013,0.10000000000000003,0.10000000000000012,9.9999999999999895E-2,9.9999999999999978E-2,0.10000000000000014,9.9999999999999964E-2,9.9999999999999978E-2,9.9999999999999714E-2,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,"Case with Separate Components"]
[]
[null,null,null,"Inflation Index Applied",null,{"$f":"F28","v":false},null,null,null,{"$f":"J28","v":0},1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1]
[]
[null,null,null,"Tolling Charge (no Credit)","$/kg H2",{"$f":"Inputs!F141","v":0.36728486567087476},null,null,null,null,{"$f":"$F$220*K218","v":0.36728486567087476},{"$f":"$F$220*L218","v":0.36728486567087476},0.36728486567087476,0.36728486567087476,0.36728486567087476,0.36728486567087476,0.36728486567087476,0.36728486567087476,0.36728486567087476,0.36728486567087476,0.36728486567087476,0.36728486567087476,0.36728486567087476,0.36728486567087476,0.36728486567087476,0.36728486567087476,0.36728486567087476,0.36728486567087476,0.36728486567087476,0.36728486567087476,0.36728486567087476,0.36728486567087476,0.36728486567087476,0.36728486567087476,0.36728486567087476,0.36728486567087476,0.36728486567087476,0.36728486567087476,0.36728486567087476,0.36728486567087476,0.36728486567087476,0.36728486567087476,0.36728486567087476,0.36728486567087476,0.36728486567087476,0.36728486567087476,0.36728486567087476,0.36728486567087476,0.36728486567087476,0.36728486567087476,0.36728486567087476]
[null,null,null,"Fixed O&M Charge","$/kg H2",{"$f":"Inputs!F142","v":0.16273106164383563},null,null,null,null,{"$f":"$F$221*K218","v":0.16273106164383563},{"$f":"$F$221*L218","v":0.16273106164383563},0.16273106164383563,0.16273106164383563,0.16273106164383563,0.16273106164383563,0.16273106164383563,0.16273106164383563,0.16273106164383563,0.16273106164383563,0.16273106164383563,0.16273106164383563,0.16273106164383563,0.16273106164383563,0.16273106164383563,0.16273106164383563,0.16273106164383563,0.16273106164383563,0.16273106164383563,0.16273106164383563,0.16273106164383563,0.16273106164383563,0.16273106164383563,0.16273106164383563,0.16273106164383563,0.16273106164383563,0.16273106164383563,0.16273106164383563,0.16273106164383563,0.16273106164383563,0.16273106164383563,0.16273106164383563,0.16273106164383563,0.16273106164383563,0.16273106164383563,0.16273106164383563,0.16273106164383563,0.16273106164383563,0.16273106164383563,0.16273106164383563,0.16273106164383563]
[null,null,null,"Feedstock Passthrough Charge","$/kg H2",{"$f":"Inputs!F143","v":0.59856119052631573},null,null,null,null,{"$f":"$F$222*K218","v":0.59856119052631573},0.59856119052631573,0.59856119052631573,0.59856119052631573,0.59856119052631573,0.59856119052631573,0.59856119052631573,0.59856119052631573,0.59856119052631573,0.59856119052631573,0.59856119052631573,0.59856119052631573,0.59856119052631573,0.59856119052631573,0.59856119052631573,0.59856119052631573,0.59856119052631573,0.59856119052631573,0.59856119052631573,0.59856119052631573,0.59856119052631573,0.59856119052631573,0.59856119052631573,0.59856119052631573,0.59856119052631573,0.59856119052631573,0.59856119052631573,0.59856119052631573,0.59856119052631573,0.59856119052631573,0.59856119052631573,0.59856119052631573,0.59856119052631573,0.59856119052631573,0.59856119052631573,0.59856119052631573,0.59856119052631573,0.59856119052631573,0.59856119052631573,0.59856119052631573,0.59856119052631573]
[null,null,null,"Credit for 45Q over 10 Years","$/kg H2",{"$f":"Inputs!F149","v":0},null,null,null,null,{"$f":"$F$223*K5*K218","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Total","$/kg H2",null,null,null,null,null,{"$f":"SUM(K220:K223)","v":1.1285771178410262},{"$f":"SUM(L220:L223)","v":1.1285771178410262},1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262,1.1285771178410262]
[]
[null,null,null,"Total Revenues from Total Toll","$",null,null,null,{"$f":"SUM(K226:XFD226)","v":2745821655.7554584},null,{"$f":"K220*K9","v":91527388.525181994},91527388.525181994,91527388.525181994,91527388.525181994,91527388.525181994,91527388.525181994,91527388.525181994,91527388.525181994,91527388.525181994,91527388.525181994,91527388.525181994,91527388.525181994,91527388.525181994,91527388.525181994,91527388.525181994,91527388.525181994,91527388.525181994,91527388.525181994,91527388.525181994,91527388.525181994,91527388.525181994,91527388.525181994,91527388.525181994,91527388.525181994,91527388.525181994,91527388.525181994,91527388.525181994,91527388.525181994,91527388.525181994,91527388.525181994,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Fixed O&M Revenue","$",null,null,null,{"$f":"SUM(K227:XFD227)","v":1216577416.8493152},null,{"$f":"K221*K9","v":40552580.561643839},40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,40552580.561643839,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Feedstock Revenue","$",null,null,null,{"$f":"SUM(K228:XFD228)","v":4474843460.3747358},null,{"$f":"K222*K11","v":149161448.67915788},149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,149161448.67915788,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Credit for 45Q over 10 Years","$",null,null,null,{"$f":"SUM(K229:XFD229)","v":0},null,{"$f":"K223*K9","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Revenue",null,null,null,null,{"$f":"SUM(K230:XFD230)","v":8437242532.9795084},null,{"$f":"SUM(K226:K229)","v":281241417.7659837},{"$f":"SUM(L226:L229)","v":281241417.7659837},281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,0,0,0,0,0,0,0,0,0,0,0]
[]
[]
[null,null,null,"Revenues",null,null,null,null,null,null,{"$f":"K230","v":281241417.7659837},{"$f":"L230","v":281241417.7659837},281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,281241417.7659837,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Total O&M",null,null,null,null,null,null,{"$f":"K146","v":189714029.24080172},{"$f":"L146","v":189714029.24080172},189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,189714029.24080172,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Credits Received",null,null,null,null,null,null,{"$f":"K108","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Total Pre-tax Cash Flow",null,null,null,null,null,{"$f":"J162","v":-862820863.0136987},{"$f":"K233-K234+K235","v":91527388.525181979},{"$f":"L233-L234+L235","v":91527388.525181979},91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Pre-tax IRR",null,{"$f":"IRR(J236:AY236)","v":0.10000000000000009}]
[]
[null,null,null,null,null,null,null,null,null,null,{"$f":"K2","v":1},2,3,4,5,6,7,8,9,10,11,12,13,14,15,16,17,18,19,20,21,22,23,24,25,26,27,28,29,30,31,32,33,34,35,36,37,38,39,40,41]
[null,null,null,"EBITDA",null,null,null,null,null,null,{"$f":"K233-K234+K235","v":91527388.525181979},{"$f":"L233-L234+L235","v":91527388.525181979},91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,{"$f":"AO233-AO234+AO235","v":0},0,0,0,0,0,0,0,0,0,0]
[]
[null,null,null,"Equity Return",100]
[null,null,null,"Revenue",{"$f":"E242/(1-F243)","v":133.33333333333334},0.25]
[]
[null,null,null,null,{"$f":"E243","v":133.33333333333334}]
[null,null,null,null,{"$f":"E245*F243","v":33.333333333333336}]
[null,null,null,null,{"$f":"E245-E246","v":100}]
[]
[]
[null,null,"Real and Nominal LCOH from NPV of Revenues/NPV of Production"]
[null,null,null,"Real LCOH"]
[null,null,null,"NPV of Revenues",null,{"$f":"Inputs!F125","v":0.1},{"$f":"NPV(F252,K230:AY230)","v":2651238789.8544555}]
[null,null,null,"NPV of Quantity for Real LCOE",null,{"$f":"Inputs!F126","v":0.1},{"$f":"NPV(F253,K9:AN9)","v":2349187085.1734867}]
[null,null,null,"LCOH - Real",null,null,{"$f":"G252/G253","v":1.1285771178410264}]
[null,null,null,"Computed LCOH",null,null,{"$f":"Inputs!F147","v":1.1285771178410262},{"$f":"G255=G254","v":true}]
[]
[null,null,null,"Nominal LCOH"]
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[null,null,null,"LCOH - Nominal",null,null,{"$f":"G258/G259","v":1.1285771178410264}]
[]
[null,null,"Real and Nominal LCOH from Total Cost/NPV of Production"]
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[]
[null,null,null,"NPV of Quantity",null,null,{"$f":"G253","v":2349187085.1734867}]
[null,null,null,"LCOH",null,null,{"$f":"G269/G271","v":1.1285771178410267}]
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[]
[null,null,null,"Nominal LCOH"]
[]
[]
[]
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[null,"Financing Cash Flow"]
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[null,null,null,"Opening Balance",null,null,null,null,null,{"$f":"I294","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
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[null,null,null,"Less: Debt Service","$",null,null,null,null,{"$f":"J295+J293","v":0},{"$f":"K295+K293","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
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[null,null,"Financial Statements"]
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[null,null,"Income Statement"]
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[null,null,null,"Less: Interest"]
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[null,null,null,"Less: Taxes"]
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[null,null,null,"Net Income",null,null,null,null,null,null,{"$f":"K313-K314+K315","v":86282086.301369876},{"$f":"L313-L314+L315","v":85757556.078988761},85180572.834369272,84545891.265288085,83847741.539298624,83079776.840710491,82235015.672263116,81305778.386971325,80283617.3731502,79159240.257947057,77922425.431223601,76561929.121827692,75065383.181492299,73419182.647123307,71608362.05931744,69616459.412731022,67425366.501486033,65015164.299116224,62363941.876509756,59447597.211642593,56239618.080288559,52710841.035799176,48829186.286861032,44559366.063028842,39862563.816813558,34696081.345976681,29012950.628056079,22761506.838343531,15884918.669659704,8320671.6841074526,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,"Cash Flow"]
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[null,null,null,"Add: Cash Flow from 45Q",null,null,null,null,null,null,{"$f":"K315","v":0},{"$f":"L315","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Less: Taxes",null,null,null,null,null,null,{"$f":"K314","v":0},{"$f":"L314","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Operating Cash Flow",null,null,null,null,null,null,{"$f":"K319+K320+K321","v":91527388.525181979},{"$f":"L319+L320+L321","v":91527388.525181979},91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,null,"Investing Cash Flow",null,null,null,null,null,{"$f":"J162","v":-862820863.0136987},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,null,"Financing Cash Flow"]
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[null,null,null,"Debt Financing",null,null,null,null,null,{"$f":"J289","v":0},{"$f":"K289","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Less: Interest Expense",null,null,null,null,null,{"$f":"J294","v":0},{"$f":"K294","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Less: Debt Repayment",null,null,null,null,null,{"$f":"J292","v":0},{"$f":"K292","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Less: Dividends",null,null,null,null,null,null,{"$f":"K299","v":91527388.525181979},91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Total Financing Cash Flow"]
[]
[null,null,null,"Equity Cash Flow",null,null,null,null,null,{"$f":"-J327+J331","v":-862820863.0136987},91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,91527388.525181979,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Equity IRR",null,{"$f":"IRR(J334:AY334)","v":0.10000000000000009}]
[]
[null,null,"Balance Sheet"]
[null,null,null,"Assets"]
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[null,null,null,"Accumulated Depreciation",null,null,null,null,null,{"$f":"I340+J310","v":0},5245302.2238121033,11015134.670005322,17361950.360818028,24343447.620711923,32023094.606595278,40470706.291066766,49763079.143985629,59984689.282196283,71228460.434228063,83596608.701462984,97201571.795421362,112167031.19877565,128629036.54246533,146737242.420524,166656268.88638854,188567197.9988395,212669220.02253544,239181444.2486012,268344890.89727342,300424682.21081281,335712452.65570623,374529000.14508903,417227202.38340998,464195224.84556311,515860049.55393153,572691356.73313689,635205794.63026285,703971676.31710124,779614146.17262352,862820863.0136981,862820863.0136981,862820863.0136981,862820863.0136981,862820863.0136981,862820863.0136981,862820863.0136981,862820863.0136981,862820863.0136981,862820863.0136981,862820863.0136981,862820863.0136981]
[null,null,null,"Net Plant",null,null,null,null,null,{"$f":"J339-J340","v":862820863.0136987},{"$f":"K339-K340","v":857575560.78988659},{"$f":"L339-L340","v":851805728.34369338},845458912.65288067,838477415.39298677,830797768.40710342,822350156.72263193,813057783.86971307,802836173.73150241,791592402.57947063,779224254.31223571,765619291.21827734,750653831.81492305,734191826.47123337,716083620.5931747,696164594.12731016,674253665.0148592,650151642.99116325,623639418.7650975,594475972.11642528,562396180.80288589,527108410.35799247,488291862.86860967,445593660.63028872,398625638.16813558,346960813.45976716,290129506.2805618,227615068.38343585,158849186.69659746,83206716.841075182,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,null,"Debt"]
[null,null,null,"Opening Equity",null,null,null,null,null,{"$f":"I348","v":0},862820863.0136987,857575560.78988659,851805728.34369338,845458912.65288067,838477415.39298677,830797768.40710342,822350156.72263193,813057783.86971307,802836173.73150241,791592402.57947063,779224254.31223571,765619291.21827734,750653831.81492305,734191826.47123337,716083620.5931747,696164594.12731016,674253665.0148592,650151642.99116325,623639418.7650975,594475972.11642528,562396180.80288589,527108410.35799241,488291862.86860955,445593660.6302886,398625638.1681354,346960813.45976698,290129506.28056169,227615068.38343576,158849186.69659731,83206716.841075033,5.0663948059082031E-7,5.0663948059082031E-7,5.0663948059082031E-7,5.0663948059082031E-7,5.0663948059082031E-7,5.0663948059082031E-7,5.0663948059082031E-7,5.0663948059082031E-7,5.0663948059082031E-7,5.0663948059082031E-7,5.0663948059082031E-7]
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[null,null,null,"Add: Net Income",null,null,null,null,null,{"$f":"J316","v":0},86282086.301369876,85757556.078988761,85180572.834369272,84545891.265288085,83847741.539298624,83079776.840710491,82235015.672263116,81305778.386971325,80283617.3731502,79159240.257947057,77922425.431223601,76561929.121827692,75065383.181492299,73419182.647123307,71608362.05931744,69616459.412731022,67425366.501486033,65015164.299116224,62363941.876509756,59447597.211642593,56239618.080288559,52710841.035799176,48829186.286861032,44559366.063028842,39862563.816813558,34696081.345976681,29012950.628056079,22761506.838343531,15884918.669659704,8320671.6841074526,0,0,0,0,0,0,0,0,0,0,0]
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[null,null,null,"Closing Balance",null,null,null,null,null,{"$f":"J344+J345+J346-J347","v":862820863.0136987},{"$f":"K344+K345+K346-K347","v":857575560.78988659},851805728.34369338,845458912.65288067,838477415.39298677,830797768.40710342,822350156.72263193,813057783.86971307,802836173.73150241,791592402.57947063,779224254.31223571,765619291.21827734,750653831.81492305,734191826.47123337,716083620.5931747,696164594.12731016,674253665.0148592,650151642.99116325,623639418.7650975,594475972.11642528,562396180.80288589,527108410.35799241,488291862.86860955,445593660.6302886,398625638.1681354,346960813.45976698,290129506.28056169,227615068.38343576,158849186.69659731,83206716.841075033,5.0663948059082031E-7,5.0663948059082031E-7,5.0663948059082031E-7,5.0663948059082031E-7,5.0663948059082031E-7,5.0663948059082031E-7,5.0663948059082031E-7,5.0663948059082031E-7,5.0663948059082031E-7,5.0663948059082031E-7,5.0663948059082031E-7,5.0663948059082031E-7]
[]
[null,null,null,"Return on Equity",null,null,null,null,null,null,{"$f":"IFERROR(K316/K344,0)","v":0.1},0.10000000000000012,9.9999999999999922E-2,0.10000000000000002,9.9999999999999936E-2,0.10000000000000019,9.9999999999999908E-2,0.10000000000000002,9.999999999999995E-2,9.9999999999999992E-2,0.10000000000000003,9.999999999999995E-2,9.9999999999999992E-2,9.9999999999999964E-2,9.9999999999999964E-2,0.1,0.10000000000000017,9.9999999999999839E-2,0.1,0.10000000000000012,9.999999999999995E-2,9.9999999999999881E-2,0.10000000000000016,9.9999999999999964E-2,0.10000000000000005,9.999999999999995E-2,9.9999999999999686E-2,9.9999999999999797E-2,9.9999999999999825E-2,9.9999999999999395E-2,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,"Graphs"]
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[null,null,null,"Return on Equity",null,null,null,null,null,{"$f":"J350","v":0},{"$f":"K350","v":0.1},0.10000000000000012,9.9999999999999922E-2,0.10000000000000002,9.9999999999999936E-2,0.10000000000000019,9.9999999999999908E-2,0.10000000000000002,9.999999999999995E-2,9.9999999999999992E-2,0.10000000000000003,9.999999999999995E-2,9.9999999999999992E-2,9.9999999999999964E-2,9.9999999999999964E-2,0.1,0.10000000000000017,9.9999999999999839E-2,0.1,0.10000000000000012,9.999999999999995E-2,9.9999999999999881E-2,0.10000000000000016,9.9999999999999964E-2,0.10000000000000005,9.999999999999995E-2,9.9999999999999686E-2,9.9999999999999797E-2,9.9999999999999825E-2,9.9999999999999395E-2,0,0,0,0,0,0,0,0,0,0,0]

{"sheet":"Synthesizer and Ammonia LCOH","index":12,"n_rows":19,"n_cols":10,"rows_kept":19,"cut":false,"hidden":false,"merged":[]}
[]
[]
[null,"Production"]
[null,null,"Ammonia Production",null,"NH3 tPA",null,null,{"$f":"Inputs!H14","v":1400000},{"$f":"Inputs!L14","v":1400000},{"$f":"Inputs!U14","v":1400000}]
[null,null,"Conversion",null,"H2/NH3",null,null,{"$f":"Inputs!H15","v":178},{"$f":"Inputs!L15","v":178},{"$f":"Inputs!U15","v":178}]
[null,null,"Required Hydrogen",null,"H2 ",null,null,{"$f":"H4*H5","v":249200000},{"$f":"I4*I5","v":249200000},{"$f":"J4*J5","v":249200000}]
[]
[]
[]
[]
[null,null,"Levelized Cost of Hydrogen",null,"USD/kgH2"]
[]
[null,null,"Synthesizer Capital Expenditures",null,"USD/MH3"]
[null,null,"Added Energy for Synthesizer",null,"%"]
[null,null,"Added Energy in NG",null,"MMBTU"]
[null,null,"Added Energy in Electricity",null,"kWh"]
[]
[null,null,"Synthesizer Operating Cost",null,"%"]
[null,null,"Synthesizer Operating Cost",null,"USD"]

{"sheet":"Synthesyzer Financial Model","index":13,"n_rows":0,"n_cols":0,"rows_kept":0,"cut":false,"hidden":false,"merged":[]}

{"sheet":"Consolidated Ammonia Model","index":14,"n_rows":0,"n_cols":0,"rows_kept":0,"cut":false,"hidden":false,"merged":[]}

{"sheet":"LCOH Methods","index":15,"n_rows":9,"n_cols":4,"rows_kept":9,"cut":false,"hidden":false,"merged":[]}
[]
[]
[]
[]
[null,null,"Method 1","Use PMT over life of project, 30 years"]
[null,null,"Method 2","Use NPV of revenues devided by NPV of quantity, use PreTax WACC as rate"]
[null,null,"Method 3 ","capex + NPV of Opex/ NPV of quantity"]
[]
[null,null,"All should yeild same results"]

{"sheet":"WACC","index":16,"n_rows":7,"n_cols":9,"rows_kept":7,"cut":false,"hidden":false,"merged":[]}
[]
[]
[null,null,null,null,null,{"$f":"Inputs!L115","v":0},null,{"$f":"Inputs!L118","v":0.1},{"$f":"H3*D6+D5*E5","v":0.1}]
[null,null,null,"%","Pretax Cost","Atax Cost","Atax WACC","Ptax WACC"]
[null,null,"Debt",{"$f":"Inputs!L123","v":0},{"$f":"Inputs!L120","v":0.05},{"$f":"E5*(1-F3)","v":0.05},{"$f":"F5*D5","v":0},{"$f":"H3*D6","v":0.1},{"$f":"H3*D6+D5*E5*(1-F3)","v":0.1}]
[null,null,"Equity",{"$f":"1-D5","v":1},{"$f":"Inputs!L118","v":0.1},{"$f":"E6","v":0.1},{"$f":"F6*D6","v":0.1},{"$f":"E5*D5","v":0}]
[null,null,"Total ",{"$f":"SUM(D5:D6)","v":1},null,null,{"$f":"SUM(G5:G6)","v":0.1},{"$f":"SUM(H5:H6)","v":0.1}]

{"sheet":"Other IEA","index":17,"n_rows":44,"n_cols":17,"rows_kept":44,"cut":false,"hidden":false,"merged":[]}
[]
[]
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