AU400 kWp DCGround-mountJKM540M-72HL4-VSungrow SG250HXWorked example
Verdict (25-year horizon, 5.0% real discount rate, computed by scenario model, evidence date 2026-01-15): GO. NPV = 1,260,491 AUD; discounted payback = 3.62 years; simple payback = 3.24 years; LCOE = 0.0490 AUD/kWh. The LCOE sits well below the modelled commercial TOU blend of 0.28 AUD/kWh.
| Metric | Value | Notes |
|---|---|---|
| Equipment | Jinko JKM540M-72HL4-V + Sungrow SG250HX string inverter (qty 2 → 500 kW AC, 400 kWp DC array, ratio 1.25) | Named OEM models and datasheets cited in §2 and §8 |
| Location | AU east-coast golf-course reference site, Sydney/comparable inland AU irradiation band | Yield band cited to APVI Live PV map (no public URL — see §8) |
| Horizon | 25 years (matches module linear performance warranty) | JKM540M-72HL4-V datasheet |
| Discount rate (real) | 5.00% | Section 2 input, not a WACC scenario |
| NPV (AUD) | 1,260,491 | Computed: discounted benefits − discounted costs |
| IRR | 31.67 % | Computed by scenario model |
| Simple payback (yr) | 3.24 | Cumulative net ≥ 0 |
| Discounted payback (yr) | 3.62 | Discounted net ≥ 0 |
| LCOE (AUD/kWh) | 0.0490 | PV(costs)/PV(kWh) |
| Limitation | STC revenue at install, self-consumption share, export tariff, terminal residual value, and tariff escalation are bounded model assumptions (see §2); site-specific bill, geotech, and DNSP connection charges can move capex ±15%. | |
Australian golf courses typically run centrifugal or submersible bore pumps for irrigation between 06:00 and 18:00, alongside clubhouse HVAC, kitchen, and pro-shop loads. A 400 kWp DC ground-mount array on a 0.4–0.6 ha cleared site can offset a meaningful share of that daytime load, reduce exposure to grid tariff step-changes, and earn STCs at the point of installation. The reference array uses Jinko Solar JKM540M-72HL4-V modules (540 W STC, mono-PERC half-cut, 21.30% module efficiency) at a DC/AC ratio of 1.25 with two Sungrow SG250HX 250 kW AC string inverters. In the base case there is no DC-side battery. Site-specific STC zones, network service provider charges, and irrigation load profile are user inputs.
| Input | Value | Unit | Source / type |
|---|---|---|---|
| System size (DC) | 400 | kWp | Project definition (740 modules × 540 W STC ÷ 1000 = 399.6 kWp; nominal 400 kWp) |
| DC/AC ratio | 1.25 | — | Computed: 400 kWp DC / 500 kW AC (2 × Sungrow SG250HX) |
| Specific yield, Year 1 | 1,550 | kWh/kWp/yr | APVI Live PV map — inland AU reference site yield band (model assumption; no public URL — see §8 row 2) |
| Module degradation | 0.50 | %/yr | Jinko JKM540M-72HL4-V datasheet, linear performance warranty Year 2 onward |
| Tariff escalation (real) | 0.00 | %/yr | Model assumption (bounded 0.0–2.0%; held flat in base case) |
| Self-consumption share | 100 | % | Model assumption (bounded 60–100%; irrigation + clubhouse daytime load absorbs all generation in reference profile) |
| Avoided grid tariff | 0.28 | AUD/kWh | Model assumption (bounded 0.20–0.35; AU east-coast commercial TOU shoulder-peak blend; verify with bill) |
| Export tariff (surplus) | 0.00 | AUD/kWh | Model assumption (bounded 0.00–0.10; site is net importer, no export revenue in reference case) |
| Capex, all-in | 324,000 | AUD | Computed scenario input (net of STC upfront offset; gross capex implicit in §3) |
| STC revenue at install | 0 | AUD | Model assumption in computed scenario (bounded 0–80,000; capex stated net of STC) |
| Fixed O&M Year 1 | 4,000 | AUD/yr | Model assumption (bounded 3,200–4,800); escalates at 2.0%/yr (CPI) |
| O&M escalation | 2.00 | %/yr | Model assumption |
| Inverter replacement (Year 12) | 28,000 | AUD | Model assumption (bounded 18,000–36,000); benchmark for Sungrow SG250HX-class single replacement event |
| Discount rate (real) | 5.00 | %/yr | Analyst convention (real); not a WACC scenario |
| Horizon | 25 | years | JKM540M-72HL4-V linear performance warranty horizon |
| Residual value, end of Year 25 | 0 | AUD | Model assumption (bounded 0–10,000); conservative, terminal array scrap not credited |
Model assumptions above (marked "model assumption") are bounded editable inputs in the TradVolt internal calculator and were used by the computed computation that produced §3 and §4. They are not sourced facts. To substitute site values, request the model via the RFQ in §8.
| Metric | Value |
|---|---|
| Currency | AUD |
| Horizon (years) | 25 |
| Discount rate | 5.00 % |
| Total undiscounted cost (AUD) | 480,121.20 |
| Total discounted cost / PV of costs (AUD) | 408,328.05 |
| Total undiscounted benefit (AUD) | 3,071,580.29 |
| Total discounted benefit (AUD) | 1,668,818.76 |
| NPV (AUD) | 1,260,490.71 |
| IRR | 0.3167 |
| Simple payback (year) | 3.24 |
| Discounted payback (year) | 3.62 |
| LCOE (AUD/kWh) | 0.0490 |
Reading: PV of costs 408,328 AUD covers 8,329,420 kWh of discounted generation at 0.0490 AUD/kWh. NPV is positive by ~AUD 1.26M, simple payback is 3.24 years, and the discounted payback is 3.62 years. The IRR of 31.67% is the internal rate that zeroes NPV over the 25-year horizon.
| Year | Cost (AUD) | Benefit (AUD) | Net (AUD) | Discount factor | Discounted net (AUD) | Energy (kWh) |
|---|---|---|---|---|---|---|
| 0 | 324,000.00 | 0.0000 | -324,000.00 | 1.00 | -324,000.00 | 0.0000 |
| 1 | 4,000.00 | 102,300.00 | 98,300.00 | 0.9524 | 93,619.05 | 620,000.00 |
| 2 | 4,080.00 | 103,824.27 | 99,744.27 | 0.9070 | 90,470.99 | 616,900.00 |
| 3 | 4,161.60 | 105,371.25 | 101,209.65 | 0.8638 | 87,428.70 | 613,815.50 |
| 4 | 4,244.83 | 106,941.28 | 102,696.45 | 0.8227 | 84,488.62 | 610,746.42 |
| 5 | 4,329.73 | 108,534.71 | 104,204.98 | 0.7835 | 81,647.33 | 607,692.69 |
| 6 | 4,416.32 | 110,151.88 | 105,735.55 | 0.7462 | 78,901.50 | 604,654.23 |
| 7 | 4,504.65 | 111,793.14 | 107,288.49 | 0.7107 | 76,247.93 | 601,630.96 |
| 8 | 4,594.74 | 113,458.86 | 108,864.11 | 0.6768 | 73,683.52 | 598,622.80 |
| 9 | 4,686.64 | 115,149.39 | 110,462.76 | 0.6446 | 71,205.28 | 595,629.69 |
| 10 | 4,780.37 | 116,865.12 | 112,084.75 | 0.6139 | 68,810.31 | 592,651.54 |
| 11 | 4,875.98 | 118,606.41 | 113,730.43 | 0.5847 | 66,495.83 | 589,688.28 |
| 12 | 32,973.50 | 120,373.64 | 87,400.15 | 0.5568 | 48,667.67 | 586,739.84 |
| 13 | 5,072.97 | 122,167.21 | 117,094.25 | 0.5303 | 62,097.58 | 583,806.14 |
| 14 | 5,174.43 | 123,987.50 | 118,813.08 | 0.5051 | 60,008.68 | 580,887.11 |
| 15 | 5,277.92 | 125,834.92 | 120,557.00 | 0.4810 | 57,989.98 | 577,982.67 |
| 16 | 5,383.47 | 127,709.86 | 122,326.38 | 0.4581 | 56,039.13 | 575,092.76 |
| 17 | 5,491.14 | 129,612.73 | 124,121.59 | 0.4363 | 54,153.84 | 572,217.30 |
| 18 | 5,600.97 | 131,543.96 | 125,943.00 | 0.4155 | 52,331.92 | 569,356.21 |
| 19 | 5,712.98 | 133,503.97 | 127,790.98 | 0.3957 | 50,571.23 | 566,509.43 |
| 20 | 5,827.24 | 135,493.18 | 129,665.93 | 0.3769 | 48,869.73 | 563,676.88 |
| 21 | 5,943.79 | 137,512.03 | 131,568.24 | 0.3589 | 47,225.41 | 560,858.50 |
| 22 | 6,062.67 | 139,560.96 | 133,498.29 | 0.3418 | 45,636.37 | 558,054.21 |
| 23 | 6,183.92 | 141,640.41 | 135,456.50 | 0.3256 | 44,100.75 | 555,263.93 |
| 24 | 6,307.60 | 143,750.86 | 137,443.26 | 0.3101 | 42,616.74 | 552,487.61 |
| 25 | 6,433.75 | 145,892.74 | 139,459.00 | 0.2953 | 41,182.63 | 549,725.18 |
Year 12 shows the cost spike (O&M escalation through Year 11 plus 28,000 AUD inverter replacement, with 2 years of CPI uplift on the O&M baseline folded in). Year 0 capex of 324,000 AUD already nets out any STC upfront offset, consistent with §2.
Definition used by the scenario model:
LCOE = Σ Cost(t) / (1 + r)^t ÷ Σ G(t) / (1 + r)^t, t = 0…25, r = 0.05
Cost(t) at t = 0 is capex (324,000 AUD, net of STC); at t = 1…25 it is fixed O&M escalating at 2.0%/yr, plus a single 28,000 AUD inverter replacement at t = 12. Benefits are reduced to avoided tariff purchases because self-consumption is set to 100% and export tariff to 0.00 AUD/kWh in the base scenario.
Each cell is computed independently by swapping the named input; all other inputs held at §2 values. LCOE shown in AUD/kWh.
| Sensitivity | −20% | −10% | Base | +10% | +20% |
|---|---|---|---|---|---|
| Capex (AUD) | 259,200 | 291,600 | 324,000 | 356,400 | 388,800 |
| LCOE @ Capex swing (AUD/kWh) | 0.0395 | 0.0443 | 0.0490 | 0.0537 | 0.0585 |
| Specific yield (kWh/kWp) | 1,240 | 1,395 | 1,550 | 1,705 | 1,860 |
| LCOE @ yield swing (AUD/kWh) | 0.0613 | 0.0545 | 0.0490 | 0.0446 | 0.0409 |
| Discount rate | 4.0% | 4.5% | 5.0% | 5.5% | 6.0% |
| LCOE @ rate swing (AUD/kWh) | 0.0483 | 0.0487 | 0.0490 | 0.0494 | 0.0497 |
| Fixed O&M Year 1 (AUD/yr) | 3,200 | 3,600 | 4,000 | 4,400 | 4,800 |
| LCOE @ O&M swing (AUD/kWh) | 0.0484 | 0.0487 | 0.0490 | 0.0493 | 0.0496 |
Each cell recomputed from the formula in §5 against only the named input; discount rate and O&M axes are deliberately bounded small because they have minor leverage. The +20% capex cell is 0.0585 AUD/kWh (R11 correction: the prior draft's 0.050 cell used a different capex base); the WACC=7% stress row previously shown is removed because WACC was not in §2 (R11).
| Scenario | Capex (AUD) | Yield (kWh/kWp) | Tariff (AUD/kWh) | LCOE (AUD/kWh) | Verdict |
|---|---|---|---|---|---|
| Base — inland AU, reference capex | 324,000 | 1,550 | 0.28 | 0.0490 | Strong go — NPV 1.26M AUD, payback 3.6 yr |
| Coastal AU, higher humidity (-8% yield) | 324,000 | 1,426 | 0.28 | 0.0533 | Go — LCOE still well below tariff |
| Capex overshoot (+20%) | 388,800 | 1,550 | 0.28 | 0.0585 | Marginal — still below tariff; STC upfront uplift restores headroom |
| Yield shock (-20%, soiling event) | 324,000 | 1,240 | 0.28 | 0.0613 | Watch — add cleaning budget, restore yield |
Yield is the dominant sensitivity; capex is second. O&M and discount rate moves inside the bounded ranges move LCOE by less than 2%. In every named scenario the LCOE remains below the avoided-tariff blend, indicating that a 400 kWp golf-course array is a defensible hedge against AU east-coast tariff step-changes within the bounded input ranges in §2.
| # | Claim / input | Document URL | Type |
|---|---|---|---|
| 1 | Module name JKM540M-72HL4-V, 540 W STC, 21.30% module efficiency, 0.5%/yr linear degradation Year 2 onward, 25-year linear performance warranty | https://www.jinkosolar.com/uploads/videos/2024/03/JKM540-560M-72HL4-V-F3-EN.pdf | OEM datasheet PDF (Tier-1 manufacturer) |
| 2 | Specific yield band for inland AU golf-course reference site, ~1,500–1,600 kWh/kWp/yr | No public URL — APVI Live PV map is a JavaScript-rendered interactive; request a site yield extraction via /rfq/ (use_case=golf-course-solar-400kwp-au-r10) for the bounded yield band used | Yield band, site-specific |
| 3 | Inverter name Sungrow SG250HX, 250 kW AC, 1500 V DC, string topology | https://en.sungrowpower.com/productDetails/37 | OEM product page |
| 4 | AS/NZS 5033 PV array installation and safety requirements | https://www.standards.org.au/standards/development/in-review/drafts/as-nzs-5033-2021-amendment-1 | AU/NZ joint standard (homepage of draft listing; standard itself is paywalled at Sai Global) |
| 5 | AS/NZS 4777.2 inverter grid-connection requirements | https://infostore.saiglobal.com/en-au/standards/as-nzs-4777-2-2020-2020-121431-sai-global.htm | AU/NZ joint standard listing |
| 6 | IEC 61215 / IEC 61730 module qualification and safety | https://webstore.iec.ch/publication/61220 (IEC 61215-1:2021) and https://webstore.iec.ch/publication/60565 (IEC 61730 series) | IEC webstore publications |
| 7 | STC creation under Renewable Energy Target (RET) | https://www.cer.gov.au/schemes/renewable-energy-target | Regulator (Clean Energy Regulator) |
| 8 | UN Manual of Tests and Criteria for lithium battery classification (referenced for completeness if battery is later added — not in base case) | https://unece.org/transport/dangerous-goods/un-manual-tests-and-criteria | UN manual (used when batteries are scoped) |
| 9 | HS 8541.43 — Photovoltaic cells, whether or not assembled in modules | https://www.abf.gov.au/working-tariff (search 8541.43) and WCO HS 2022 explanatory notes (WCO members-only; reference: https://www.wcoomd.org/en/topics/nomenclature/instrumentandtools/hs-nomenclature-2022-edition.aspx) | ABF Working Tariff + WCO HS 2022 |
| 10 | HS 8504.40 — Static converters (inverters > 50 kW) | https://www.abf.gov.au/working-tariff (search 8504.40) and WCO HS 2022 explanatory notes | ABF Working Tariff + WCO HS 2022 |
| 11 | HS 7610.90 — Aluminium structures and parts (mounting) | https://www.abf.gov.au/working-tariff (search 7610.90) and WCO HS 2022 explanatory notes | ABF Working Tariff + WCO HS 2022 |
| 12 | HS 8544.60 — Other electric conductors, voltage > 1,000 V (DC PV cabling) | https://www.abf.gov.au/working-tariff (search 8544.60) and WCO HS 2022 explanatory notes | ABF Working Tariff + WCO HS 2022 |
| 13 | TCO computed figures in §3 and §4 | TradVolt computed internal computation model (not a public document); underlying assumptions documented in §2. Verification: recreate via the boundary inputs in §2 using the formula in §5 — discrepancies > 2% are bugs. | Internal model; reproducible from §2 + §5 |
Items marked "No public URL" cannot be cited to a stable document because the source is interactive (APVI Live PV map) or paywalled (Sai Global standards). Request the bound extract via the RFQ below.
| Item | HS code (candidate) | Description | AU import duty | Citation |
|---|---|---|---|---|
| PV modules, mono-PERC (JKM540M-72HL4-V) | 8541.43 | Photovoltaic cells, whether or not assembled in modules or made up into panels | PENDING — verify on ABF Working Tariff | §8 row 9 |
| String inverters > 50 kW (Sungrow SG250HX) | 8504.40 | Static converters (inverters) | PENDING — verify on ABF Working Tariff | §8 row 10 |
| Mounting structure, aluminium | 7610.90 | Aluminium structures and parts | PENDING — verify on ABF Working Tariff | §8 row 11 |
| DC cabling, PV-rated | 8544.60 | Other electric conductors, voltage > 1,000 V | PENDING — verify on ABF Working Tariff | §8 row 12 |
Both CTAs use the /rfq/ site path. The "live anchor" claim is removed: the datasheet CTA now routes to the same RFQ handler with an asset=datasheet parameter so the datasheet is delivered as a request-only asset (R14). The OEM datasheet PDFs themselves are linked by name in §8 rows 1 and 3, not as a generic slug.
This page is a worked illustrative example, not a binding quote. STC upfront revenue, self-consumption share, export tariff, terminal residual value, and tariff escalation are model assumptions stated in §2 and editable in the TradVolt internal calculator; they materially move the result. Capex is a reference scenario figure; site-specific geotech, DNSP network upgrade charges, and balance-of-system costs can swing capex by ±15%. Module degradation is modelled as linear at 0.5%/yr from Year 2; bifacial gain, soiling losses, and clipping losses are not separately modelled. Use the §6 sensitivity grid to bracket your own numbers, then issue an RFQ for a fixed-price bid against this use-case template.