Fishers Island Tidal Energy Project - Energy Highway

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May 30, 2012 NYS TIDAL ENERGY DEVELOPMENT NY ENERGY HIGHWAY Equity Payment - Individuals $5.8 0% Equity Payment - Corporate $0.0 100% Property Taxes $0.0 100% Lease Cost $10.1 Total Other Parameters Financial Parameters Local Share (%) Debt Financing 20% 0% Percentage financed 20 Years financed (term) 10% Interest rate Tax Parameters 0% Local Property Tax (percent of taxable value) 100% Assessed Value (percent of construction cost) 100% Taxable Value (percent of assessed value) $45.7 Taxable Value ( million$ - if applicable) 100.0% Property Tax Exemption (percent of local taxes) $0.0 100% Local Property Taxes 4.0% 100% Local Sales Tax Rate $0.0 100% Lease Cost (if applicable) * Spreadsheet is taken from JEDI software output Impacts in New York State - Assumptions MW Size Tidal Turbine Has a .4 Capacity Factor Turbines run for 365 days a year 24 hours a day Project Sourcing is Highlighted above in Yellow $300 MWhr Incentive Cost per MW Jobs Created per 1 MW Cost for Build Out Total Jobs Created kWhr Produced MWhr Incentive Annual Revenues SPB Years 1 $4,723,968 25 $4,723,968 25 3,504,000 $300 $1,051,200 4.49 5 $4,723,968 25 $23,619,840 123 17,520,000 $300 $5,256,000 4.49 10 $4,723,968 25 $47,239,680 247 35,040,000 $300 $10,512,000 4.49 Summary. By implementing an incentive of $300 MWhr we are able to reach our goal of a 5-year simple pay back (SBP). This is an important goal for new technologies and it is imperative that such policies be enacted to foster economic growth and technology development. This SBP allows for more investment into the industry that will lead to further economic and social benefits. 18
May 30, 2012 NYS TIDAL ENERGY DEVELOPMENT NY ENERGY HIGHWAY References 1 Bleiwas, Kenneth. Energizing the Future: The Benefits of Renewable Energy for New York State. Report 12-2005. Office of State Deputy Controller. March 2005. 2 US Department of Commerce. NOAA. National Ocean Service. 1940. 3 US Census Bureau. Personal Income Upstate NY 2008 (50 non-MTA Region Counties). Population Growth Upstate New York during 2000 to 2009. The Public Policy Institute of New York State, Inc. Albany, New York. June 2010. 4 NYSERDA. New York State Reneewable Portfolio Standard. Performance Report. Program Period ending June, 2008. September 2008. 6 Gill, A.B. Offshore Renewable Energy: Ecological Implications of Generating Electricity in the Coastal Zone. Journal of Applied Ecology. 2005. 42: 605-615. Related Documents on Tidal Energy Bason, R. (2011 February). ADP Measurements of Spacial Tidal Flow in the Shrewsbury River Near Sandy Hook. (N. C. Services, Ed.) Potential Tidal Power for New Jersey 2010-15 . Bason, R. (2011, February). ADP Measurements of Spacial Tidal Flow in the Shrewsbury River Near Sandy Hook. (N. C. Services, Ed.) Potential Tidal Power for New Jersey . < http://issuu.com/naturalcurrents/docs/report3> Bason, R. (2011, April). ADP Measurments: Exisiting Data. (N. C. Services, Ed.) Potential Tidal Power for New Jersey 2012-15 .< http://issuu.com/naturalcurrents/docs/140_20-_20tang-rpt-2- 15-11_1-7> Bason, R. (2011, February). Developing a New Jersey Statewide Tidal Energy System: Preliminary Assessment of Sites and Site Factors. (N. C. Services, Ed.) Potential Tidal Power for New Jersey 2010-15 . Bason, R., Hansong Tang (2012). Literature Study: Tidal Energy Power Generation- History and Currents Status. (N. C. Services, Ed.) Potential Tidal Power for New Jersey, A Statewide Study . Bason, R. Long Island Tidal & Wave Energy Study: An Assessment of the Resources. Long Island Power Authority. 19
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