Economic Evaluation
18.0.1 Economic appraisal shall follow the Economic Appraisal Method and Parameters of Cons-truction Project and the current financial policies and regulations.
18.0.2 The economic appraisal shall include financial appraisal and national economic appraisal.
18.0.3 The economic appraisal shall follow the principle that costs and benefits are calculated in a consistent manner，with the time value of funds being considered.In an economic appraisal，priority shall be given to dynamic analysis，with static analysis as the supplement.
18.0.4 In a financial appraisal，the financial internal rate of return and feed-in tariff shall be taken as the main indices.Financial net present value，return on investment，ratio of profit and tax to investment，and static payback period are taken as the supplementary indices.
18.0.5 If the financial internal rate of return is not less than the financial benchmark yield or the calculated financial net present value is larger than zero and the feed-in tariff is acceptable by the market，the financial appraisal shall be considered to be feasible.(https://www.daowen.com)
18.0.6 In the national economic appraisal，the economic internal rate of return shall be taken as the main index，and the economic net present value and the benefit-cost ratio shall be taken as the supplementary indices.
18.0.7 If the economic internal rate of return is not less than the social discount rate or economic present value is not less than zero，the national economic appraisal shall be considered to be feasible.
18.0.8 An uncertainty analysis shall be carried out for the economic appraisal，in which priority should be given to sensitivity analysis.
18.0.9 On the basis of financial appraisal and national economic appraisal，a comprehensive assessment shall be carried out with consideration of indices such as inundation，per kilowatt investment，unit electrical energy investment，and social and environmental benefits of the hydropower station.
