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~ w~ w s r~ o i u i i o w s PV Project Revenues Project re~~eiiues include stole and federal incentives end utilitc net metering credits. STATE INCENTIVES CALIFORNIA SOLAR 1NTIATIVF, (CSI) Incentives from the CSI aec available to solar PA' projects ranging in installed capacia~ (kVA~ CI?C-.A(:)° from l k\V~ nw ~ ~(\V~ Frith inccmiccs available for up ~u L ~I\V~ of installed cipacih. '1'oa dit(crcni rvpcs of inccniiccs arc acailablc • I?xpected Pertin~mance Based Bu~du~cn Q?PBB), ~ehich is based un expected peth~enuuuc and pavs on Poker capacin: • Performance Based Incentive (PBI) -rcyuired for systems Deer ~U 1:AC~ .AC -~rhidi is based un the actual performance ut flu PV' scs~em aver a ~-ccar period fullu~~ing iusiallaiiuu and pars on kV\ h produced. Based uu the recunvneuded swum sizes foe the OSC (89 k\C) and \V~cll No. 8 (27~ kA\), the Citc ovoid pursue the PBI track. The CSI incentive pavnunt levels decrease over time as the program issues solar Pt' rescrvatium. .1s of l~cbruarc 3, 3110), du• iuccuri~r is SU33/k\V'h for gorcmuxu~ and nun pcoGi cmiiics and S033/k\C~h G>r conuuercial emities. IC the City were to engage in a private third-panv PP_A or leasing arraugemem, the commercial iuccutice rate would apph~. "1'he expeciaiiuu is Thai the CSI ineemive gill decrease by cork Spring 3009 with [he inanrive falling ro SU3C,/kV\ h for governnx~nt and non-profit entities and 5U.1 ~/I:AV~h for commercial entities. 'hhis report assumes 5033/kV\ h inecntive Fur Scenario 3 and S03°_/kVC~h incentive fnr Scenario 3. S'hA'Ch. Uh:PRFCfA'hION Udun~gh governnu•nr agencies and nonprofit organizations cannot directlc claim state depreciation and iuresnnenr tax asdirs, the Cin- can engnge in financial arrangements in whid~ a privare third pane enria~ claims the depreciation and passes the cost savings along ~u the Ciw (~rithin ;i PP.1 or leasing arrangcmcn [). l~he Calitornia corporate laz code allows ibr a twelve ccar straight line depreciation ou PV' eyuipusm costa. I?ven though YV' ssrems have a life especruxv of Deer 35 ccaes, the entire scstem can be depreciated iu avch~c gars using the straight line method ~~hich allows ft33 percent of the svacm cuss [o be deducted each ccar ~<n- i~ech~c ve ~srs. St:uc depreciation kill apply io a priva~c third-pane owned Pt" system under a YP:A or leasing arrangement This depreciation schedule is incorporated into the auaksis under Scenario 3. FEDERAL INCENTIVES Whough guceruuum agencies and nonprofit orgauizaiiuus cannot direcik claim federal depreciation and invesnnenr tax credits, the Cin~ can engage in financial arrangenunts in which a private d~ird-parn~ emii~~ claims the iuccuiives and passes the cost saciu}~>` on to she Ciw (within s PP.1 or leasing arrangcmcnQ. I ~ A~ i.u in;- I'\ n i.ih r._ ~~i i'~i< < i~~.ii .r ~_i1. m~~ nn., urn=nni iLc ~~cii~ i .,gym nn~,i ~ Ilrt b c~~ I~~un I n o~ A~ Ali At Ali I'li i.n,.~~(!r In:. n~rl ll r~.. IIn~..gin~rini l,i,~r.i6cu, ih, :niin PA „i, n{<~.~ii ,n.~.nc.