PV and BESS profitability calculator
The calculator computes IRR, NPV, LCOE, DSCR and payback for PV and BESS projects using market benchmarks for the selected country. All financing models — cash, leasing, project finance and ESCO — run on the same versioned engine.
Parameters
Technology
- Project market
- Bulgaria
- Reference market
- Bulgaria
Financing models
Equity IRR: 26.5%, NPV at WACC: 9.4m EUR, Payback period: 3.9 years
26.45%
Equity IRR
9,438,363EUR
NPV at WACC
52.64EUR/MWh
LCOE
—
Minimum DSCR
3.89years
Payback period
1,255,000EUR
EBITDA year 1
The calculations are indicative and based on market benchmarks. They do not constitute investment advice or an offer. A precise analysis requires project data.
Cumulative equity cash flow
Detailed comparison
Equity IRR
- All-cash purchase26.45%
- Operating lease94.70%
- Project finance58.93%
- ESCO / OPEX model—
NPV at WACC
- All-cash purchase9,438,363 EUR
- Operating lease9,464,234 EUR
- Project finance9,638,733 EUR
- ESCO / OPEX model10,520,371 EUR
Equity engaged
- All-cash purchase4,700,000 EUR
- Operating lease470,000 EUR
- Project finance1,410,000 EUR
- ESCO / OPEX model0 EUR
52.64EUR/MWh
LCOE (technology cost)
Comparison table
| Metric | All-cash purchase | Operating lease | Project finance | ESCO / OPEX model |
|---|---|---|---|---|
| Net outlay | 4,700,000 | 4,700,000 | 4,700,000 | 4,700,000 |
| Equity | 4,700,000 | 470,000 | 1,410,000 | 0 |
| Debt / financed amount | 0 | 4,230,000 | 3,290,000 | 0 |
| EBITDA year 1 | 1,255,000 | 1,255,000 | 1,255,000 | 949,725 |
| NPV at WACC | 9,438,363 | 9,464,234 | 9,638,733 | 10,520,371 |
| Project IRR | 26.45% | 25.57% | 26.45% | — |
| Equity IRR | 26.45% | 94.70% | 58.93% | — |
| Payback period | 3.89 | 1.12 | 1.76 | 0.00 |
| Discounted payback period | 4.68 | 1.21 | 1.94 | 0.00 |
| Minimum DSCR | — | — | 2.97 | — |
| Average DSCR | — | — | 3.24 | — |
| Total benefit over the horizon | 27,641,356 | 22,131,412 | 22,957,263 | 20,742,407 |
ESCO performs best on NPV because the investor puts up no capital — but the investor does not acquire the asset either. Neither ownership of the installation nor its residual value at the end of the horizon remains on the investor's side.
ESCO / OPEX model
- The ESCO model engages no equity, so IRR is undefined. Comparison with an outright cash purchase does not account for the loss of asset ownership and residual value after the contract term.