PHOTOVOLTAIC PROJECT COST/SAVINGS 17-Oct-24
A B C D E F G H I J K L M
Facility kWh kWh Cost cost per
kWh
(ave.)
PV systems
kWH
generation
PV systems
annual
savings*
PV systems
annual
electrical
bill**
PV systems
lifecycle
savings***
Constrn Cost:
PV only
Constrn
Cost: EVCS /
Misc. Non-
ITC items
only
Constrn. Cost
(PV + EV)
IRA funding
(40% of PV
only)
City Funding Payback
Period
(years)
****
Payback
Period (Years,
No ITC)
formula A/B B - E H + I H * 40% J - K
DBE contract pricing for 3 sites
Quinlan Community Center
(0116367009-116367840) 383,109 $121,336 $0.32 483,143 $163,067 -$41,731 $7,502,535 $1,691,865 $196,795 $1,888,660 $676,746 $1,211,914 6.72 9.77 Sports Center (0116367009-
116971849) 329,369 $108,143 $0.33 335,228 $96,612 $11,531 $4,518,119 $1,375,175 $201,868 $1,577,043 $550,070 $1,026,973 9.11 12.81 Community Hall (0116367009-
116367449) 114,600 $39,810 $0.35 71,332 $31,196 $8,614 $1,398,696 $471,816 $2,362 $474,178 $188,726 $285,452 8.11 12.32
$269,289 $290,875 -$21,586 $13,419,350 $3,538,856 $401,025 $3,939,881 $1,415,542 $2,524,339 with 10% contingency $4,339,881
with 'wood' contingency $4,639,881
*Annual savings includes 5% utility escalation over a 1.5 year construction period , Year 1
***Lifecycle Savings (30yrs) includes: 5% utility escalation, 0.5% module degradation, 30 years, NEM3 Included
**The costs (B) are offset by the kWh savings (E), resulting in lowered electrical bill (F)
****Discounted cashflow methodology includes: 5% utility escalation, 0.5% module degradation, 30 years, NEM3 Included
ATTACHMENT C - PHOTOVOLTAIC SYSTEMS DESIGN AND INSTALLATION PROJECT COST ANALYSIS FEBRUARY 2025
PAGE 1 OF 2
Cost Revision for 2 sites: Comm Hall and QCC (15% increase) Quinlan Community Center
(0116367009-116367840) 383,109 $121,336 $0.32 483,143 $163,067 -$41,731 $7,502,5 35 $1,945,645 $226,314 $2,171,959 $778,258 $1,393,701 7.58 10.94 Community Hall (0116367009-
116367449) 114,600 $39,810 $0.35 71,332 $31,196 $8,614 $1,398,696 $542,588 $2,716 $545,305 $217,035 $328,269 9.13 13.74
$161,146 $194,263 -$33,117 $8,901,231 $2,488,233 $229,031 $2,717,264 $995,293 $1,721,970 with 10% contingency $2,988,990
Cost Revision for 1 site: Comm Hall (15% increase)
Community Hall (0116367009-
116367449) 114,600 $39,810 $0.35 71,332 $31,196 $8,614 $1,398,696 $542,588 $461,179 $1,003,767 $217,035 $786,732 9.13 13.74 $39,810 $31,196 $8,614 $1,398,696 $542,588 $461,179 $1,003,767 $217,035 $786,732 with 10% contingency $1,104,144
Cost Revision for 2 sites: Comm Hall and CSC (15% increase) Sports Center (0116367009-
116971849) 329,369 $108,143 $0.33 335,228 $96,612 $11,531 $4,518,119 $1,581,451 $232,148 $1,813,599 $632,581 $1,181,019 10.21 14.25 Community Hall (0116367009-
116367449) 114,600 $39,810 $0.35 71,332 $31,196 $8,614 $1,398,696 $542,588 $2,716 $545,305 $217,035 $328,269 9.13 13.74
$147,953 $127,808 $20,145 $5,916,815 $2,124,040 $234,865 $2,358,904 $849,616 $1,509,288 with 10% contingency $2,594,795
Cost Revision for 2 sites: Comm Hall and CSC (15% increase) Sports Center (0116367009-
116971849) 329,369 $108,143 $0.33 335,228 $96,612 $11,531 $4,518,119 $1,581,451 $232,148 $1,813,599 $632,581 $1,181,019 10.21 14.25 Community Hall (0116367009-
116367449) 114,600 $39,810 $0.35 71,332 $31,196 $8,614 $1,398,696 $542,588 $2,716 $545,305 $217,035 $328,269 9.13 13.74
$147,953 $127,808 $20,145 $5,916,815 $2,124,040 $234,865 $2,358,904 $849,616 $1,509,288 with 10% contingency $2,594,795
CURRENT PROJECT SCOPE:
REDUCED PROJECT SCOPE OPTIONS:
Costs & Savings: Implement 3 Sites
• Annual Cost Savings: $290,875 projected, with $13.4M 30-year lifecycle savings • Cost of Design and Construction ($4.4M) is less than project budget ($6.3M) • Net cost to City after IRA reimbursement: $2.5M projected • Net cost to City without IRA reimbursement: $4.4M projected; $1.5M differential and longer payback period
• Project completion timeline for NEM2.0 compliance is April 2026 (time is of the essence). • Annual Cost Savings: $290,875 projected, with $13.4M 30-year lifecycle savings • Cost of Design and Construction ($4.4M) is less than project budget ($6.3M) • Net cost to City after IRA reimbursement: $2.5M projected • Net cost to City without IRA reimbursement: $4.4M projected; $1.5M differential and longer payback period
• Project completion timeline for NEM2.0 compliance is April 2026 (time is of the essence).
Costs & Savings: Fiscal Summary
ATTACHMENT C - PHOTOVOLTAIC SYSTEMS DESIGN AND INSTALLATION PROJECT COST ANALYSIS FEBRUARY 2025
PAGE 2 OF 2