This discounted cash flow model simulates single investment appraisals in the context of auctions for renewable energy support. With the tool you can quantify impacts of different auction designs, for example penalties, on the business case of a single project and estimate cost-based, non-strategic ‘bid’ prices.

The tool could be interesting to policy makers making impact assessments of different auction designs, but also for potential bidders in auctions who want to get a first very rough idea of likely bid prices under different assumptions.

Using the tool requires project specific cost inputs (such as capital expenditures and operational expenditures, discount rates) and the support characteristics of the respective auction design (such as remuneration type, support duration, grace periods, penalty design). We provide preliminary default values for wind and solar technologies and different European countries facilitating a first estimation.

A detailed description of the model and further instructions for use can be found in the user guide.

Three application examples on past auctions in Europe can be found in the report Cash flow analysis of past RES auctions.

If you have any suggestions of amending or improving the model, either regarding features or layout, please do not hesitate to contact Lena Kitzing (lkit [at] We might be able to assist you on adding additional features to the tool on request. We also appreciate feedback on the model based on your user experience as a whole.