Click on the Create New Project to begin a new project. Enter the location of your project by clicking on the map or typing the location in the search space. The project information you provide on the Setup page will help you identify your calculated projects in the Project Listing.
Project
Project Name, Author & Notes and Notice to Proceed will assist you in identifying your project and are optional fields.
Name: Add a name to identify your project here.
Author: Add your name here.
Notes: Provide more detailed information about your project here.
Notice to Proceed: An optional field to identify your project
Expected Commercial Operational Date (COD): The date that the system will start generating revenue. The COD year will be Project Year 1 and referenced in the inputs and results.
Project Lifetime (years): The number of years over which the net present value of the project should be calculated.
Electricity Market
The Electricity Market is an optional field on the setup page and is used to identify an existing project in your Project Listing and is not considered in your calculation.
Applications
Applications are the revenue opportunities which will finance the project. Choose one or more of the revenue opportunities on the Setup page or click Next to select them on the Application page.
•Energy Market: An Energy Market is a wholesale merchant that offers financial compensation from which a project can buy or sell electricity. In HOMER Front, you can import Day Ahead Market (DAM), Real-Time Market, and Fifteen Minute Market (FMM) price strips in $/MWh. You may select multiple Energy Markets and assign a system capacity (%) to evaluate multiple price signals.
•Capacity Market: Capacity Markets guarantee reliability by paying producers to pledge generation for future years. Select Capacity and choose a Market in the drop-down to import Spot Market Pricing ($/MWh) or enter monthly Capacity Prices ($/kW-mo). Electricity market (ex: CAISO) means that the capacity market is called ‘Resource Adequacy’ - so this will vary by location of your project?
•Time of Delivery Contract: Time of Delivery Contract is a form of a power purchase agreement. Energy may be sold at a specified, contracted price. You can specify specific daily or hourly export obligations accordingly.
