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DOE OSTI2019

H2FAST: Hydrogen Financial Analysis Scenario Tool [SWR 15-06]

The Hydrogen Financial Analysis Scenario Tool, H2FAST, provides a quick and convenient in-depth financial analysis for hydrogen and nonhydrogen systems and services. H2FAST is available as a downloadable Excel spreadsheet. The model uses a generally accepted accounting principles analysis framework and provides annual projections of income statements, cash flow statements, and balance sheets. H2FAST allows users to generate a side-by-side scenario analysis, where a base system can be tested by varying key operating or financing parameters. Detailed capital structure, taxation, and incentives are included. The model has built-in risk analysis allowing impact assessment of parameters bearing user-specified uncertainty ranges. Financial articulation is presented in graphical and tabular format for the user-specified analysis period. The model is self-documented, with embedded help functions and annotation of input parameters. Note: The model is also flexible for providing analysis for International Financial Reporting Standards by adjusting inputs for compliance with their rules. The H2FAST framework has been used for analysis of a variety of systems, e.g., retail hydrogen refueling stations with incentives analysis, ammonia production, methane pyrolysis, seasonal energy storage, hydrogen fleet operations, electric vehicle charging with time of use rate structures, combined heat and power systems, hydrogen production pathways, and hydrogen transmission and distribution. The example cases available for download are intended to demonstrate model functionality and should be populated with user-specific analysis values such as CapEx, OpEx, and capital structure.

Penev, Michael↗

DOE OSTI2023

ProFAST (Production Financial Analysis Scenario Tool) [SWR-23-88]

The Production Financial Analysis Scenario Tool (ProFAST) provides a quick and convenient in-depth financial analysis for production facilities. The model uses a generally accepted accounting principles analysis framework and provides annual projections of income statements, cash flow statements, and balance sheets. ProFAST allows users to calculate the levelized cost of the produced commodity by providing an expected financial performance, or on the other hand, calculate the financial performance based on an input price. Model inputs generally capital expenditures, operating expenditures, and financing structure. The programmatic approach of ProFAST allows users to easily perform large sensitivity analyses and integrates easily with other python tools.

Kee, Jamie↗

DOE OSTI2020

Financial Analysis of the 2019 Glen Canyon Dam Bug Flow Experiment

This report was prepared by Argonne National Laboratory (Argonne) in support of a financial analysis of the Glen Canyon Dam (GCD) flow experiment that was intended to support downstream macroinvertebrate production that are a primary food supply for fishes in the Colorado River. Also known as “bug flow” experiments, these experimental water releases were conducted on the weekends and holidays from the beginnings of May 2019 through the end of August 2019. This analysis was funded by the Colorado River Storage Project (CRSP) Office of the U.S. Department of Energy’s Western Area Power Administration (WAPA). CRSP markets electricity produced by hydroelectric facilities collectively known as the Salt Lake City Area Integrated Projects including dams equipped for power generation on the Colorado, Green, Gunnison, and Rio Grande Rivers and on Plateau Creek in the states of Arizona, Colorado, New Mexico, Utah, and Wyoming. Staff members in Argonne’s Energy Systems Division prepared this technical memorandum with assistance from WAPA’s CRSP and Energy Marketing and Management Offices (EMMO).

13 HYDRO ENERGY↗

DOE OSTI2020

Financial Analysis of Experimental Releases Conducted at Glen Canyon Dam during Water Year 2019

This report was prepared by Argonne National Laboratory in support of a financial analysis of the Glen Canyon Dam high-flow experimental release that is intended to mobilize the sand in the Colorado River with high-volume water releases from the dam and redeposit it downstream as sandbars along the river. These sandbars serve, among other things, as habitat for wildlife. This experimental release was conducted during the period from November 5 to November 8, 2018. This analysis was funded by the Colorado River Storage Project (CRSP) Office of the U.S. Department of Energy Western Area Power Administration (WAPA). CRSP markets electricity produced by hydroelectric facilities collectively known as the Salt Lake City Area Integrated Projects including dams equipped for power generation on the Colorado, Green, Gunnison, and Rio Grande Rivers and on Plateau Creek in the states of Arizona, Colorado, New Mexico, Utah, and Wyoming. Staff members in Argonne’s Energy Systems Division prepared this technical report with assistance from the WAPA CRSP and Energy Marketing and Management Offices.

13 HYDRO ENERGY↗

DOE OSTI2022

Financial Analysis of the 2020 Macroinvertebrate Production Flow Experiment at Glen Canyon Dam

This report was prepared by Argonne National Laboratory (Argonne) in support of a financial analysis of the Glen Canyon Dam (GCD) flow experiment that was intended to support downstream macroinvertebrate production that are a primary food supply for fishes in the Colorado River. Also known as “bug flow” experiments, these experimental water releases were conducted on the weekends and holidays from the beginnings of May 2020 through the end of August 2020. This analysis was funded by the Colorado River Storage Project (CRSP) Office of the U.S. Department of Energy’s Western Area Power Administration (WAPA). CRSP markets electricity produced by hydroelectric facilities collectively known as the Salt Lake City Area Integrated Projects including dams equipped for power generation on the Colorado, Green, Gunnison, and Rio Grande Rivers and on Plateau Creek in the states of Arizona, Colorado, New Mexico, Utah, and Wyoming. Staff members in Argonne’s Energy Systems Division prepared this technical memorandum with assistance from WAPA’s CRSP and Energy Marketing and Management Offices (EMMO).

13 HYDRO ENERGY↗

DOE OSTI2023

Financial Analysis of the 2022 Macroinvertebrate Production Flow Experiment at Glen Canyon Dam

This report was prepared by Argonne National Laboratory (Argonne) in support of a financial analysis of the Glen Canyon Dam (GCD) flow experiment that was intended to support downstream macroinvertebrate production that are a primary food supply for fishes in the Colorado River. Also known as “bug flow” experiments, these experimental water releases were conducted on the weekends and holidays from the beginnings of May 2022 through the end of August 2022. This analysis was funded by and prepared for the Colorado River Storage Project (CRSP) Office of the U.S. Department of Energy’s Western Area Power Administration (WAPA). CRSP markets electricity produced by hydroelectric facilities collectively known as the Salt Lake City Area Integrated Projects including dams equipped for power generation on the Colorado, Green, Gunnison, and Rio Grande Rivers and on Plateau Creek in the states of Arizona, Colorado, New Mexico, Utah, and Wyoming. Staff members in Argonne’s Energy Systems and Infrastructure Analysis Division prepared this technical memorandum with assistance from WAPA’s CRSP and Energy Marketing and Management Offices (EMMO).

13 HYDRO ENERGY↗

DOE OSTI2022

Financial Analysis of Experimental Releases Conducted at Glen Canyon Dam during Water Year 2021

This report was prepared by Argonne National Laboratory (Argonne) in support of a financial analysis of two Glen Canyon Dam (GCD) flow experiments that were conducted in Water Year 2021. The first experiment, called “spring disturbance flow”, was conducted from March 15 to 26, 2021. This disturbance flow experiment is designed to simulate a spring-timed runoff event so scientists can study its effects on the Colorado River ecosystem. The second experiment was a reduced and steady discharge from May 29 to June 4, 2021. This reduced steady flow experiment was conducted for the United States Geological Survey (USGS) to collect high-resolution aerial imagery over Grand Canyon National Park. This analysis was funded by the Colorado River Storage Project (CRSP) Office of the U.S. Department of Energy’s Western Area Power Administration (WAPA). CRSP markets electricity produced by hydroelectric facilities collectively known as the Salt Lake City Area Integrated Projects including dams equipped for power generation on the Colorado, Green, Gunnison, and Rio Grande Rivers and on Plateau Creek in the states of Arizona, Colorado, New Mexico, Utah, and Wyoming. Staff members in Argonne’s Energy Systems Division prepared this technical memorandum with assistance from WAPA’s CRSP and Energy Marketing and Management Offices (EMMO).

58 GEOSCIENCES↗

NASA NTRS1985

User's operating procedures. Volume 2: Scout project financial analysis program

A review is presented of the user's operating procedures for the Scout Project Automatic Data system, called SPADS. SPADS is the result of the past seven years of software development on a Prime mini-computer located at the Scout Project Office, NASA Langley Research Center, Hampton, Virginia. SPADS was developed as a single entry, multiple cross-reference data management and information retrieval system for the automation of Project office tasks, including engineering, financial, managerial, and clerical support. This volume, two (2) of three (3), provides the instructions to operate the Scout Project Financial Analysis program in data retrieval and file maintenance via the user friendly menu drivers.

Harris, C. G.↗

DOE OSTI2025

Financial Analysis of the Smallmouth Bass Flows implemented at the Glen Canyon Dam during Water Year 2024

The Glen Canyon Dam (GCD) is a Colorado River Storage Project (CRSP) power resource that is a component of the Salt Lake City Area Integrated Projects (SLCA/IP). The 2016 record of decision (ROD) for the GCD long-term experimental and management plan (LTEMP) final Environmental Impact Statement (EIS) specifies criteria for GCD monthly water releases, daily and hourly operating limits, and experimental releases. This report presents a financial analysis of the Smallmouth bass (Micropterus dolomieu) (SMB) flows implemented at GCD during Water Year (WY) 2024. These bypass flows were introduced by the U.S. Bureau of Reclamation (USBR) as an emergency response to the growing threat posed by invasive SMB in the Colorado River ecosystem downstream of the dam. SMB are a non-native predatory species that pose a significant threat to native fish populations, including the endangered humpback chub (Gila cypha). The thermal regime below GCD, typically cold due to hypolimnetic releases from Lake Powell, has historically served as a thermal barrier limiting SMB establishment. However, persistently low reservoir levels in recent years have reduced stratification in Lake Powell, allowing warmer water to be released downstream. This has enabled SMB to spawn successfully below the dam, prompting urgent ecological concerns. To mitigate the risk of SMB proliferation, the USBR implemented a series of bypass flows in WY 2024. Drawn from a lower elevation than the penstocks, the bypass structures released cooler water downstream. These short-duration bypass flows aimed to keep temperatures cool enough to prevent SMB from spawning, thereby reducing the ecological threat posed by this invasive species. Although motivated by ecological objectives, these bypass flows came with financial tradeoffs. Releasing water through the bypass structures instead of the turbines at GCD reduced hydropower generation, resulting in a significantly lower financial position for Western Area Power Administration (WAPA), which is responsible for marketing the electricity produced by the GCD Powerplant. This report analyzes the financial impact of the SMB flows implemented from July to November 2024. These experimental releases led to an estimated financial cost of approximately $18.9 million, primarily driven by the substantial volume of water diverted through the bypass structures. This study applies an integrated set of tools to estimate WAPA financial impacts by simulating GCD under two types of cases; namely, (1) a “With Experiment” case that mimics the water operations that actually occurred, including the SMB bypass flows, and (2) a “Without Experiment” case that simulates operations under the assumption that the SMB flows did not occur. Both cases comply with LTEMP hourly and daily operating criteria, and the monthly water release volumes are assumed to be identical under both cases. The Colorado River Storage Project Python-based model (CRiSPPy) model was the main modeling tool used to simulate the dispatch of the GCD hydropower plant and associated water releases from Lake Powell. In the modeling process, the research team used extensive data sets and historical information on SLCA/IP power plant characteristics, hydrologic conditions, and WAPA’s power purchases and sales prices.

13 HYDRO ENERGY↗

DOE OSTI2024

Reconductoring Economic and Financial Analysis Tool (REFA) v1.0

REFA is designed to help transmission planners better understand the financial, environmental and economic benefits of reconductoring upgrades, using traditional or advanced conductors. More specifically, the tool enables grid planners and utilities to demonstrate the entire lifetime value of reconductoring projects, providing potential justifications for projects with higher Capex - the purchase of long-term physical or fixed assets used in a business's operations. Existing tools are designed to compare technical aspects of different conductor applications. They typically do not allow a cost-benefit analysis over the lifetime of the conductor's operations.

Heleno, Miguel↗

DOE OSTI2019

Financial Analysis of the 2018 Glen Canyon Dam Bug Flow Experiment

This report examines the financial implications of the macroinvertebrate production flows (MPF) experiment conducted at the Glen Canyon Dam (GCD) from May 1, through August 31, 2018. It is the first report examining the financial implications of a MPF experiment since the 2016 Record of Decision (ROD) was adopted in December 2016 (Reclamation 2016). The 2016 ROD implemented the Long-Term Experimental and Management Plan (LTEMP) regime. Experimental releases may have either a positive or a negative impact on the financial value of energy production. For these experimental releases, financial costs of approximately $165,000 were incurred because this experiment maintained flat releases on the weekends and holidays. This study identifies the main factors that contribute to MPF costs and examines the interdependencies among these factors. It applies an integrated set of tools to estimate financial impacts by simulating GCD operations under two scenarios: (1) a Baseline scenario that mimics MPF operations during the period of the experiment when it complies with the 2016 ROD operating criteria, and (2) a counterfactual Without Experiments scenario that is identical to the baseline except it assumes that the MPF experiment did not occur. The Generation and Transmission Maximization Superlite (GTMax SL) model was the main simulation tool used to simulate the dispatch of the GCD hydropower plant and associated water releases from Lake Powell. GCD is a Colorado River Storage Project (CRSP) power resource that is a component of the Salt Lake City Area Integrated Projects (SLCA/IP). The research team used extensive data sets and historical information on SLCA/IP power plant characteristics, hydrologic conditions, and Western Area Power Administration’s (WAPA’s) power sale prices in the modeling process. In addition to estimating the financial impact of MPFs, the team used the GTMax SL model to gain insights into the interplay among ROD operating criteria, exceptions made to criteria to accommodate the experimental releases, and WAPA operating practices.

13 HYDRO ENERGY↗

DOE OSTI2019

Financial Analysis of Experimental Releases Conducted at Glen Canyon Dam during Water Year 2017

This report examines the financial implications of the high-flow experiment (HFE) conducted at Glen Canyon Dam (GCD) during water year (WY) 2017. It is the eighth in a series of reports examining the financial implications of experimental flows conducted since the 1996 Record of Decision (ROD) was adopted in February 1997 (Reclamation 1996). The 1996 ROD implemented the Modified Low Fluctuating Flow (MLFF) regime. This is the first report since the 2016 ROD was adopted in January 2017 (Reclamation 2016). The 2016 ROD implemented the Long-Term Experimental and Management Plan (LTEMP) regime for monthly water releases, daily and hourly operating criteria, and experimental releases. A report released in January 2011 examined WYs 1997 to 2005 (Veselka et al. 2011); a report released in August 2011 examined WYs 2006 to 2010 (Poch et al. 2011); a report released in June 2012 examined WY 2011 (Poch et al. 2012); a report released in April 2013 examined WY 2012 (Poch et al. 2013); a report released in June 2014 examined WY 2013 (Graziano et al. 2014); a report released in September 2015 examined WY 2014 (Graziano et al. 2015); and a report released in November 2016 examined WY 2015 (Graziano et al. 2016). An experimental release may have either a positive or a negative impact on the financial value of energy production. Only one experimental release was conducted at GCD in WY 2017, specifically, a HFE release in November 2016. For this experimental release, financial costs of approximately $1.15 million were incurred because the HFE required sustained water releases exceeding the power plant’s maximum flow rate. In addition, during the month of the experiment, operators were not allowed to shape GCD power production, neither to follow firm electric service (FES) customer day-ahead energy deliveries nor to respond to market prices. This study identifies the main factors contributing to HFE costs and examines the interdependencies among these factors. It applies an integrated set of tools to estimate financial impacts by simulating GCD operations under two scenarios: (1) a Baseline scenario that mimics HFE operations both during the experiment and during the rest of the year when it complies with the 1996 daily/hourly operating criteria and the 2016 ROD monthly water release mandates, and (2) a counterfactual Without Experiments scenario identical to the Baseline scenario except it assumes that the HFE did not occur. The Generation and Transmission Maximization Superlite (GTMax SL) model was the main simulation tool used to simulate the dispatch of the GCD hydropower plant and associated water releases from Lake Powell. GCD is a Colorado River Storage Project (CRSP) power resource that is a component of the Salt Lake City Area Integrated Projects (SLCA/IP). In the modeling process the research team used extensive data sets and historical information on SLCA/IP power plant characteristics, hydrologic conditions, and Western Area Power Administration’s (WAPA’s) power purchase and sale prices. In addition to estimating the financial impact of the HFE, the team used the GTMax SL model to gain insights into the interplay among ROD operating criteria, exceptions made to criteria to accommodate the experimental releases, and WAPA operating practices.

13 HYDRO ENERGY↗

DOE OSTI2025

Financial Analysis of the High Flow Experiment conducted at the Glen Canyon Dam during Water Year 2023

The Glen Canyon Dam (GCD) is a Colorado River Storage Project (CRSP) power resource that is a component of the Salt Lake City Area Integrated Projects (SLCA/IP). The 2016 record of decision (ROD) for the GCD long-term experimental and management plan (LTEMP) final Environmental Impact Statement (EIS) specified criteria for GCD monthly water releases, daily and hourly operating limits, and experimental releases. This report examines the financial implications of the high flow experiment (HFE) conducted at GCD during the spring of Water Year (WY) 2023 as required by the LTEMP HFE Protocol. This report is part of a series of reports that describe the financial costs of LTEMP experimental releases since the 2016 ROD was adopted in January 2017. Previous reports analyzed the impact of several past HFEs and Bug Flow Experiments. This report focuses on the HFE conducted in April 2023. For this experimental release, financial costs of approximately $1.33 million were incurred because the HFE required sustained water releases exceeding the power plant’s maximum turbine flow rate. In addition, during the experiment, operators were not allowed to shape GCD power production, either to follow Firm Electric Service (FES) customer day-ahead energy deliveries or to respond to market prices. This study identifies the main factors contributing to the HFE costs and examines the interdependencies among these factors. It applies an integrated set of tools to estimate Western Area Power Administration (WAPA) financial impacts by simulating GCD under two types of cases; namely, (1) a “With Experiment” case that mimics the operations that actually occurred and (2) a “Without Experiment” case that simulates operations under the assumption that the HFE did not occur. The “With Experiment” case mimics operations during the HFE and the entire month the HFE occurred. It complies with LTEMP hourly and daily operating criteria. The “Without Experiment” case assumes that the HFE did not occur. The monthly water release volume is assumed to be identical under both cases. The Colorado River Storage Project Python-based model (CRiSPPy) model was the main modeling tool used to simulate the dispatch of the GCD hydropower plant and associated water releases from Lake Powell. In the modeling process, the research team used extensive data sets and historical information on SLCA/IP power plant characteristics, hydrologic conditions, and WAPA’s power purchases and sales prices. In addition to estimating the financial impact of the HFE, the team used the CRiSPPy model to gain insights into the interplay among ROD operating criteria, exceptions made to criteria to accommodate the HFE, and WAPA operating practices.

13 HYDRO ENERGY↗

DOE OSTI2020

Financial Analysis of Battery Electric Transit Buses

A baseline bus fleet and battery electric bus investment scenario was developed based on the average or common parameters of existing battery electric bus (BEB) fleets. A discounted cashflow analysis was done that found the baseline fleet to have a net present value of $785,000 and simple payback of 3.3 years. The 33 main parameters were then swung ±50% to determine their relative influence on NPV and were ranked accordingly. Then parameter volatility was estimated by dividing the range of observed values by the baseline value. The parameters that are most influential and volatile were highlighted as the ones fleet managers should focus on when determining if BEBs are a good investment option for them. These top parameters are 1) BEB purchase price, 2) purchase price of foregone diesel bus, 3) grant amount, 4) maintenance costs of foregone diesel bus, 5) annual vehicle miles traveled.

25 ENERGY STORAGE↗

DOE OSTI2026

Financial Analysis of the Smallmouth Bass Flows implemented at the Glen Canyon Dam during 2025

Ploussard, Quentin [Argonne National Laboratory (A↗

DOE OSTI2024

Hydrodynamic Test Requirements Process Improvements

Hydrodynamic testing at Los Alamos National Laboratory would benefit from a process improvement for the requirements process. Cameo was used as a digital solution for requirements management to allow Lead Engineers to track requirements more effectively. This was identified as a process improvement throughout this Capstone project. This report includes a project proposal, business case, literature review, methodology, project plan, data analysis, decision-making report, financial analysis report, discussion, and conclusion. Initially, this project focused on figuring out a solution for the hydrotest requirement process improvements. The scope narrowed to focus on the use of Cameo for requirement capture and management. During this Capstone, four tests had digital models produced for requirements management in Cameo. The initial model was the baseline, with core requirements used across the tests. Commonalities in tests were used and the core requirements allowed for process efficiencies. In the data analysis, it was seen that overall, the implementation of using Cameo for requirements resulted in a decreasing trend for both schedule and normalized cost. Tests have different complexity levels which is also a factor in how long the requirements process will take. Additional data is needed to continue analyzing process improvements. Through decisionmaking and financial analysis, the recommendation was to use Cameo for requirements process improvement. Multiple experts provided feedback for requirements that were then captured within models. Numerous tangible and intangible benefits were identified with this process improvement. For return on investment, the metric of success was schedule reduction, which was overall seen. Four tests were analyzed, so future analysis will be needed. There is also not a great financial risk because the main cost would be purchasing more licenses. Individuals must generate requirements whether using this software or not. Overall, training is needed to help improve the skillsets of Lead Engineers but is already being supported on a regular frequency. A desktop guide was started associated with explaining the process, however, it is a work in progress. The team plans on adding additional information in the digital models to help status when requirements are met using verification methods and artifacts. From working on this project an improved understanding of Cameo and requirements was the result. There are future opportunities to extend the usage for requirements management and progress will continue after this project.

99 GENERAL AND MISCELLANEOUS↗

DOE OSTI2023

LH CO 2 MENT Colorado Project (Final Report)

The objective of Electricore’s pre-FEED project “LH CO 2 MENT COLORADO PROJECT” is to accelerate the implementation of a 1.5 million tonnes per year (TPY), and first-of-a-kind (FOAK) at world scale, Svante VeloxoTherm™ carbon capture plant. This project represents a quantum leap to a large-scale facility that will launch Svante’s carbon capture technology into the next era of accomplishments and market acceptance. By completing the Front-End Loading (FEL) Feasibility Study Report (FEL-2) for a fit-for-purpose design at the HOLCIM cement plant, located near Florence Colorado, USA, this technology can be proven as the future of large-scale deployment for carbon capture and storage. This carbon capture plant was designed with the goal of reaching a target of near Net Zero Emissions by capturing 90% of the carbon dioxide (CO 2 ) emissions from the HOLCIM cement plant and from the boiler which produces steam required to regenerate the adsorbent. Additionally, this project will be leveraging a renewable Power Purchase Agreement (PPA) using solar energy to acquire power at the target price of 0.04 $/kWh or less. In its current configuration CO 2 emissions from the HOLCIM cement plant is around 700 – 800 kg/ton of clinker produced. The proposed new carbon capture plant will allow a reduction of CO 2 emissions to about 100 kg/ton of clinker produced. The scope of work consists of the process design and capital & operating cost estimation (Class IV) for a total plant capacity of 4,750 TPD of pipeline grade CO 2 . The Svante VeloxoTherm™ technology is comprised of a Rotary Adsorption Machine (RAM) for intensified Thermal Swing Adsorption (TSA) using Structured Adsorbent Beds (SABs) and related Balance of Plant (BOP), including CO 2 compression. A business case (financial analysis) evaluation has been undertaken for the Owner’s management review. Recommendations on how best to proceed to the next stage of the project have been conveyed and are documented within this report. This analysis has relied on a detailed and comprehensive Project Financial Model, evaluating the Total Project IRR (after tax, unlevered, and including all forecast 45Q PTCs and 100% tax efficiency) – the project financial analysis (as opposed to standard TEA analysis) only considered a 12 year plant economic lifetime as a result of 45Q being the sole driver considered at this stage. The Total Project IRR was evaluated across a large number of potential scenarios. The evaluation demonstrated that if the 45Q PTD is increased to $85/MT for sequestration, there are a large number of feasible scenarios which demonstrate economic returns.

01 COAL, LIGNITE, AND PEAT↗

DOE OSTI2021

Preliminary Environmental and Financial Viability Analysis of Circular Economy Scenarios for Satisfying PV System Service Lifetime

PV deployment has grown rapidly in recent decades, and this growth is expected to continue. At the same time, the rapid increase in PV panel efficiencies offers the opportunity to repower/revamp existing installations - replacing operational, lower-efficiency panels before the end of their 30-year service lifetime with newer, higher-efficiency panels. As a result, an increasing volume of PV panels could be decommissioned well before reaching the end of their 30-year service lifetime. Two broad strategies can be applied to manage the expected increase in decommissioned PV panels: (i) recycle prematurely decommissioned panels, and (ii) prevent recycling of these panels by satisfying the typical service lifetime of 30 years through circular economy strategies such as repair and reuse. Each strategy presents an environmental and economic trade-off. Retaining and satisfying the lifetime of the older, lower-efficiency panels avoids environmental burdens from recycling or landfilling but incurs burdens from additional repair and forgoing the opportunity to install newer panels with greater electricity-generation capabilities. This study assesses whether satisfying the expected service lifetime of a PV system through circular economy scenarios generates a greater environmental and financial benefit than recycling used panels and installing newer panels with higher efficiencies. The circular economy scenarios include repair and reuse of the PV system. Specifically, the study determines whether it is better for the environment to keep a PV panel in use for its 30-year service life after accounting for potential repair and additional transportation, or to replace older panels with more efficient new ones. In addition, we explore whether satisfying the service lifetime of PV panels proves competitive with the recycling route from a financial perspective.

14 SOLAR ENERGY↗