CREST: Cost of Renewable Energy Spreadsheet Tool
The Cost of Renewable Energy Spreadsheet Tool (CREST) contains economic, cash-flow models designed to assess project economics, design cost-based incentives, and evaluate the impact of state and federal support structures on renewable energy.
The model is a product of a 2009–2010 partnership among NREL, the U.S. Department of Energy Solar Energy Technologies Office, and the National Association of Regulatory Utility Commissions. The model was developed by Sustainable Energy Advantage under the direction of NREL.
Intended Uses
CREST is designed for state policymakers, regulators, utilities, developers, and investors. The models allow users to:
- Estimate the year one cost of energy and levelized cost of energy from projects
- Experiment with the process of setting cost-based incentive rates
- Observe the effects of different economic drivers on a given renewable energy project's cost of energy and levelized cost of energy
- Comprehend the relative economics of generation projects with differing characteristics, such as project size, resource quality, location, and ownership.
Download CREST
The CREST models are available in Microsoft Excel format:
Supporting Documents and Information
CREST Cost of Renewable Energy Spreadsheet Tool: A Model for Developing Cost-Based
Incentives in the United States — User Manual Version 4, NREL Subcontract Report (2013)
This document offers a tutorial on how to use the CREST models, including example
model runs, sample inputs, and troubleshooting. The five technology versions of CREST
share a common architecture, the features of which are described in the main body
of this user manual. Features specific to the individual technologies are explained
in the appendices.
Renewable Energy Cost Modeling: A Toolkit for Establishing Cost-Based Incentives in
the United States, NREL Subcontract Report (2011)
This report serves as a resource for policymakers who wish to learn more about establishing
cost-based incentives. The report identifies key renewable energy cost modeling options,
highlights the policy implications of choosing one approach over the other, and presents
recommendations on the optimal characteristics of a model to calculate rates for cost-based
incentives, feed-in tariffs, or similar policies.
Contact
Contact us if you have questions or concerns about these models.
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