Section 45 Reference Rates

Year	Source	Reference Rate	Credit	Adj. Factor
2005	Wind	4.85 cents/kWh	1.9 cents/kWh	1.2528
	Refined Coal	$36.36/ton	$5.481/ton	1.2528
	Closed-Loop Biomass	N/A	1.9 cents/kWh	1.2528
	Open-Loop Biomass	N/A	0.9 cents/kWh	1.2528
	Geothermal	N/A	1.9 cents/kWh	1.2528
	Solar	N/A	1.9 cents/kWh	1.2528
	Small Irrigation	N/A	0.9 cents/kWh	1.2528
	Municipal Solid Waste	N/A	0.9 cents/kWh	1.2528
	Qualified Hydropower	N/A	0.9 cents/kWh	1.2528

Year	Source	Reference Rate	Credit	Adj. Factor
2006	Wind	2.89 cents/kWh	1.9 cents/kWh	1.2981
	Refined Coal	$42.78/ton	$5.679/ton	1.2981
	Closed-Loop Biomass	N/A	1.9 cents/kWh	1.2981
	Open-Loop Biomass	N/A	1 cent/kWh	1.2981
	Geothermal	N/A	1.9 cents/kWh	1.2981
	Solar	N/A	1.9 cents/kWh	1.2981
	Small Irrigation	N/A	1 cent/kWh	1.2981
	Municipal Solid Waste	N/A	1 cent/kWh	1.2981
	Qualified Hydropower	N/A	1 cent/kWh	1.2981

Year	Source	Reference Rate	Credit	Adj. Factor
2007	Wind	3.29 cents/kWh	2 cents/kWh	1.3433
	Refined Coal	$48.35/ton	$5.877/ton	1.3433
	Closed-Loop Biomass	N/A	2 cents/kWh	1.3433
	Open-Loop Biomass	N/A	1 cent/kWh	1.3433
	Geothermal	N/A	2 cents/kWh	1.3433
	Solar	N/A	2 cents/kWh	1.3433
	Small Irrigation	N/A	1 cent/kWh	1.3433
	Municipal Solid Waste	N/A	1 cent/kWh	1.3433
	Qualified Hydropower	N/A	1 cent/kWh	1.3433
	Indian Coal	N/A	$1.544/ton	1.0293

Year	Source	Reference Rate	Credit	Adj. Factor
2008	Wind	3.6 cents/kWh	2.1 cents/kWh	1.3854
	Refined Coal	$45.56/ton	$6.061/ton	1.3854
	Closed-Loop Biomass	N/A	2.1 cents/kWh	1.3854
	Open-Loop Biomass	N/A	1 cent/kWh	1.3854
	Geothermal	N/A	2.1 cents/kWh	1.3854
	Solar	N/A	2.1 cents/kWh	1.3854
	Small Irrigation	N/A	1 cent/kWh	1.3854
	Municipal Solid Waste	N/A	1 cent/kWh	1.3854
	Qualified Hydropower	N/A	1 cent/kWh	1.3854
	Indian Coal	N/A	$1.589/ton	1.0591

Year	Source	Reference Rate	Credit	Adj. Factor
2009	Wind	4.32 cents/kWh	2.1 cents/kWh	1.4171
	Refined Coal	$39.72/ton	$6.20/ton	1.4171
	Closed-Loop Biomass	N/A	2.1 cents/kWh	1.4171
	Open-Loop Biomass	N/A	1.1 cent/kWh	1.4171
	Geothermal	N/A	2.1 cents/kWh	1.4171
	Solar	N/A	2.1 cents/kWh	1.4171
	Small Irrigation	N/A	1 cent/kWh	1.4171
	Municipal Solid Waste	N/A	1 cent/kWh	1.4171
	Qualified Hydropower	N/A	1 cent/kWh	1.4171
	Indian Coal	N/A	$1.625/ton	1.0830
	Steel Industry Fuel	N/A	$2/barrel	N/A