Merge pull request #13 from softwareengineerprogrammer/irr-percent-fix

softwareengineerprogrammer · web-flow · commit 6a42696796f9 · 2024-03-01T12:59:03.000-08:00
IRR percent fix
diff --git a/src/geophires_x/Economics.py b/src/geophires_x/Economics.py
@@ -81,8 +81,12 @@ def CalculateRevenue(plantlifetime: int, ConstructionYears: int, CAPEX: float, O
     return CashFlow, CummCashFlow
 
 
-def CalculateFinancialPerformance(plantlifetime: int, FixedInternalRate: float, TotalRevenue, TotalCummRevenue,
-                                  CAPEX: float, OPEX: float):
+def CalculateFinancialPerformance(plantlifetime: int,
+                                  FixedInternalRate: float,
+                                  TotalRevenue: list,
+                                  TotalCummRevenue: list,
+                                  CAPEX: float,
+                                  OPEX: float):
     """
     CalculateFinancialPerformance calculates the financial performance of the project.  It is used to calculate the
     financial performance of the project. It is used to calculate the revenue stream for the project.
@@ -113,6 +117,8 @@ def CalculateFinancialPerformance(plantlifetime: int, FixedInternalRate: float,
     IRR = npf.irr(TotalRevenue)
     if math.isnan(IRR):
         IRR = 0.0
+    else:
+        IRR *= 100.  # convert from decimal to percent
     VIR = 1.0 + (NPV / CAPEX)
 
     # Calculate MOIC which depends on CumCashFlow
@@ -417,7 +423,6 @@ def __init__(self, model: Model):
         )
         self.ccwellfixed = self.ParameterDict[self.ccwellfixed.Name] = floatParameter(
             "Well Drilling and Completion Capital Cost",
-            value=-1.0,
             DefaultValue=-1.0,
             Min=0,
             Max=200,
@@ -743,7 +748,6 @@ def __init__(self, model: Model):
         )
         self.wellcorrelation = self.ParameterDict[self.wellcorrelation.Name] = intParameter(
             "Well Drilling Cost Correlation",
-            value=WellDrillingCostCorrelation.VERTICAL_SMALL,
             DefaultValue=WellDrillingCostCorrelation.VERTICAL_SMALL,
             AllowableRange=[1, 2, 3, 4, 5],
             UnitType=Units.NONE,
@@ -1323,8 +1327,8 @@ def __init__(self, model: Model):
         self.ProjectIRR = self.OutputParameterDict[self.ProjectIRR.Name] = OutputParameter(
             "Project Internal Rate of Return",
             UnitType=Units.PERCENT,
+            CurrentUnits=PercentUnit.PERCENT,
             PreferredUnits=PercentUnit.PERCENT,
-            CurrentUnits=PercentUnit.PERCENT
         )
         self.ProjectVIR = self.OutputParameterDict[self.ProjectVIR.Name] = OutputParameter(
             "Project Value Investment Ratio",
@@ -1767,10 +1771,11 @@ def Calculate(self, model: Model) -> None:
         else:
             # if depth is > 7000 m, we don't have a correlation for it, so we must use the SIMPLE logic
             checkdepth = model.reserv.depth.quantity().to('m').magnitude
-            if (
-                checkdepth > 7000.0 or checkdepth < 500) and not self.wellcorrelation.value == WellDrillingCostCorrelation.SIMPLE:
-                msg = f'Simple user-specified cost per meter used for drilling depth <500 or >7000 m ({checkdepth}m)'
-                print(f'Warning: {msg}')
+            if ((checkdepth > 7000.0 or checkdepth < 500) and
+                not self.wellcorrelation.value == WellDrillingCostCorrelation.SIMPLE):
+                msg = (f'Invalid cost correlation specified for drilling depth <500 or >7000 m ({checkdepth}m), '
+                       f'falling back to simple user-specified cost '
+                       f'({self.Vertical_drilling_cost_per_m.value} per meter)')
                 model.logger.warning(msg)
                 self.wellcorrelation.value = WellDrillingCostCorrelation.SIMPLE
 
@@ -1804,13 +1809,18 @@ def Calculate(self, model: Model) -> None:
                 else:
                     self.C1well = self.Vertical_drilling_cost_per_m.value * model.reserv.depth.quantity().to(
                         'm').magnitude * 1E-6
+
             elif self.wellcorrelation.value == WellDrillingCostCorrelation.VERTICAL_SMALL:
-                self.C1well = (
-                                      0.3021 * checkdepth ** 2 + 584.9112 * checkdepth + 751368.) * 1E-6  # well drilling and completion cost in M$/well
+                self.C1well = ((0.3021 * checkdepth ** 2 + 584.9112 * checkdepth + 751368.)
+                               * 1E-6)  # well drilling and completion cost in M$/well
+
             elif self.wellcorrelation.value == WellDrillingCostCorrelation.DEVIATED_SMALL:
                 self.C1well = (0.2898 * checkdepth ** 2 + 822.1507 * checkdepth + 680563.) * 1E-6
+
             elif self.wellcorrelation.value == WellDrillingCostCorrelation.VERTICAL_LARGE:
+
                 self.C1well = (0.2818 * checkdepth ** 2 + 1275.5213 * checkdepth + 632315.) * 1E-6
+
             elif self.wellcorrelation.value == WellDrillingCostCorrelation.DEVIATED_LARGE:
                 self.C1well = (0.2553 * checkdepth ** 2 + 1716.7157 * checkdepth + 500867.) * 1E-6
 
diff --git a/src/geophires_x/SurfacePlantDoubleFlash.py b/src/geophires_x/SurfacePlantDoubleFlash.py
@@ -122,7 +122,7 @@ def Calculate(self, model: Model) -> None:
         self.NetElectricityProduced.value = self.ElectricityProduced.value - model.wellbores.PumpingPower.value
         self.FirstLawEfficiency.value = self.NetElectricityProduced.value/HeatExtractedTowardsElectricity
 
-        # Calculate annual electricity, pum;ping, and heat production
+        # Calculate annual electricity, pumping, and heat production
         self.HeatkWhExtracted.value, self.PumpingkWh.value, self.TotalkWhProduced.value, self.NetkWhProduced.value, self.HeatkWhProduced.value = \
         SurfacePlant.annual_electricity_pumping_power(self, self.plant_lifetime.value, self.enduse_option.value,
                                 self.HeatExtracted.value, model.economics.timestepsperyear.value, self.utilization_factor.value,
diff --git a/tests/example1_addons.csv b/tests/example1_addons.csv
@@ -11,7 +11,7 @@ ECONOMIC PARAMETERS,Accrued financing during construction,,0.0,
 ECONOMIC PARAMETERS,Project lifetime,,30,yr
 ECONOMIC PARAMETERS,Capacity factor,,90.0,%
 ECONOMIC PARAMETERS,Project NPV,,-6.29,MUSD
-ECONOMIC PARAMETERS,Project IRR,,0.04,%
+ECONOMIC PARAMETERS,Project IRR,,4.48,%
 ECONOMIC PARAMETERS,Project VIR=PI=PIR,,0.81,
 ECONOMIC PARAMETERS,Project MOIC,,3.47,
 ECONOMIC PARAMETERS,Fixed Charge Rate (FCR),,5.0,
diff --git a/tests/examples/example10_HP.out b/tests/examples/example10_HP.out
@@ -4,11 +4,11 @@
 
 Simulation Metadata
 ----------------------
- GEOPHIRES Version: 3.4.3
+ GEOPHIRES Version: 3.4.11
  GEOPHIRES Build Date: 2022-06-30
- Simulation Date: 2024-02-18
- Simulation Time:  09:03
- Calculation Time:      0.143 sec
+ Simulation Date: 2024-03-01
+ Simulation Time:  12:32
+ Calculation Time:      0.142 sec
 
                            ***SUMMARY OF RESULTS***
 
@@ -30,7 +30,7 @@ Simulation Metadata
       Project lifetime:                                      30 yr
       Capacity factor:                                       90.0 %
       Project NPV:                                           4.04 MUSD
-      Project IRR:                                           0.07 %
+      Project IRR:                                           7.45 %
       Project VIR=PI=PIR:                                    1.13
       Project MOIC:                                          0.92
 
diff --git a/tests/examples/example11_AC.out b/tests/examples/example11_AC.out
@@ -4,11 +4,11 @@
 
 Simulation Metadata
 ----------------------
- GEOPHIRES Version: 3.4.3
+ GEOPHIRES Version: 3.4.11
  GEOPHIRES Build Date: 2022-06-30
- Simulation Date: 2024-02-18
- Simulation Time:  09:03
- Calculation Time:      0.154 sec
+ Simulation Date: 2024-03-01
+ Simulation Time:  12:33
+ Calculation Time:      0.143 sec
 
                            ***SUMMARY OF RESULTS***
 
@@ -31,7 +31,7 @@ Simulation Metadata
       Project lifetime:                                      30 yr
       Capacity factor:                                       90.0 %
       Project NPV:                                         -15.88 MUSD
-      Project IRR:                                           0.00 %
+      Project IRR:                                           0.34 %
       Project VIR=PI=PIR:                                    0.48
       Project MOIC:                                          0.03
 
diff --git a/tests/examples/example12_DH.out b/tests/examples/example12_DH.out
@@ -4,11 +4,11 @@
 
 Simulation Metadata
 ----------------------
- GEOPHIRES Version: 3.4.3
+ GEOPHIRES Version: 3.4.11
  GEOPHIRES Build Date: 2022-06-30
- Simulation Date: 2024-02-18
- Simulation Time:  09:03
- Calculation Time:      0.132 sec
+ Simulation Date: 2024-03-01
+ Simulation Time:  12:33
+ Calculation Time:      0.127 sec
 
                            ***SUMMARY OF RESULTS***
 
@@ -33,7 +33,7 @@ Simulation Metadata
       Project lifetime:                                      30 yr
       Capacity factor:                                       86.3 %
       Project NPV:                                         -19.42 MUSD
-      Project IRR:                                           0.02 %
+      Project IRR:                                           1.73 %
       Project VIR=PI=PIR:                                    0.59
       Project MOIC:                                          0.14
 
diff --git a/tests/examples/example1_addons.out b/tests/examples/example1_addons.out
@@ -4,11 +4,11 @@
 
 Simulation Metadata
 ----------------------
- GEOPHIRES Version: 3.4.3
+ GEOPHIRES Version: 3.4.11
  GEOPHIRES Build Date: 2022-06-30
- Simulation Date: 2024-02-18
- Simulation Time:  09:03
- Calculation Time:      0.613 sec
+ Simulation Date: 2024-03-01
+ Simulation Time:  12:31
+ Calculation Time:      0.616 sec
 
                            ***SUMMARY OF RESULTS***
 
@@ -30,7 +30,7 @@ Simulation Metadata
       Project lifetime:                                      30 yr
       Capacity factor:                                       90.0 %
       Project NPV:                                          -6.29 MUSD
-      Project IRR:                                           0.04 %
+      Project IRR:                                           4.48 %
       Project VIR=PI=PIR:                                    0.81
       Project MOIC:                                          3.47
 
diff --git a/tests/examples/example2.out b/tests/examples/example2.out
@@ -4,10 +4,10 @@
 
 Simulation Metadata
 ----------------------
- GEOPHIRES Version: 3.4.0
+ GEOPHIRES Version: 3.4.11
  GEOPHIRES Build Date: 2022-06-30
- Simulation Date: 2024-02-13
- Simulation Time:  09:44
+ Simulation Date: 2024-03-01
+ Simulation Time:  12:31
  Calculation Time:      0.215 sec
 
                            ***SUMMARY OF RESULTS***
@@ -30,7 +30,7 @@ Simulation Metadata
       Project lifetime:                                      25 yr
       Capacity factor:                                       90.0 %
       Project NPV:                                          -1.73 MUSD
-      Project IRR:                                           0.06 %
+      Project IRR:                                           5.77 %
       Project VIR=PI=PIR:                                    0.96
       Project MOIC:                                          0.51
 
diff --git a/tests/examples/example3.out b/tests/examples/example3.out
@@ -4,11 +4,11 @@
 
 Simulation Metadata
 ----------------------
- GEOPHIRES Version: 3.4.3
+ GEOPHIRES Version: 3.4.11
  GEOPHIRES Build Date: 2022-06-30
- Simulation Date: 2024-02-18
- Simulation Time:  08:28
- Calculation Time:      0.168 sec
+ Simulation Date: 2024-03-01
+ Simulation Time:  12:31
+ Calculation Time:      0.169 sec
 
                            ***SUMMARY OF RESULTS***
 
@@ -30,7 +30,7 @@ Simulation Metadata
       Project lifetime:                                      35 yr
       Capacity factor:                                       90.0 %
       Project NPV:                                          -2.89 MUSD
-      Project IRR:                                           0.06 %
+      Project IRR:                                           6.01 %
       Project VIR=PI=PIR:                                    0.97
       Project MOIC:                                          0.65
 
diff --git a/tests/examples/example5.out b/tests/examples/example5.out
@@ -4,11 +4,11 @@
 
 Simulation Metadata
 ----------------------
- GEOPHIRES Version: 3.4.0
+ GEOPHIRES Version: 3.4.11
  GEOPHIRES Build Date: 2022-06-30
- Simulation Date: 2024-02-13
- Simulation Time:  09:44
- Calculation Time:      0.064 sec
+ Simulation Date: 2024-03-01
+ Simulation Time:  12:31
+ Calculation Time:      0.062 sec
 
                            ***SUMMARY OF RESULTS***
 
@@ -29,7 +29,7 @@ Simulation Metadata
       Project lifetime:                                      30 yr
       Capacity factor:                                       90.0 %
       Project NPV:                                          -2.25 MUSD
-      Project IRR:                                           0.06 %
+      Project IRR:                                           5.64 %
       Project VIR=PI=PIR:                                    0.95
       Project MOIC:                                          0.47
 
diff --git a/tests/examples/example8.out b/tests/examples/example8.out
@@ -4,11 +4,11 @@
 
 Simulation Metadata
 ----------------------
- GEOPHIRES Version: 3.4.0
+ GEOPHIRES Version: 3.4.11
  GEOPHIRES Build Date: 2022-06-30
- Simulation Date: 2024-02-13
- Simulation Time:  09:44
- Calculation Time:      0.615 sec
+ Simulation Date: 2024-03-01
+ Simulation Time:  12:32
+ Calculation Time:      0.607 sec
 
                            ***SUMMARY OF RESULTS***
 
@@ -30,7 +30,7 @@ Simulation Metadata
       Project lifetime:                                      30 yr
       Capacity factor:                                       60.0 %
       Project NPV:                                         -10.17 MUSD
-      Project IRR:                                           0.01 %
+      Project IRR:                                           0.86 %
       Project VIR=PI=PIR:                                    0.52
       Project MOIC:                                          0.08
 
diff --git a/tests/examples/example_SHR-1.out b/tests/examples/example_SHR-1.out
@@ -4,11 +4,11 @@
 
 Simulation Metadata
 ----------------------
- GEOPHIRES Version: 3.4.3
+ GEOPHIRES Version: 3.4.11
  GEOPHIRES Build Date: 2022-06-30
- Simulation Date: 2024-02-16
- Simulation Time:  10:15
- Calculation Time:      0.623 sec
+ Simulation Date: 2024-03-01
+ Simulation Time:  12:32
+ Calculation Time:      0.607 sec
 
                            ***SUMMARY OF RESULTS***
 
@@ -30,7 +30,7 @@ Simulation Metadata
       Project lifetime:                                      30 yr
       Capacity factor:                                       90.0 %
       Project NPV:                                          25.37 MUSD
-      Project IRR:                                           0.07 %
+      Project IRR:                                           7.14 %
       Project VIR=PI=PIR:                                    1.10
       Project MOIC:                                          1.28
 
diff --git a/tests/examples/example_SHR-2.out b/tests/examples/example_SHR-2.out
@@ -4,11 +4,11 @@
 
 Simulation Metadata
 ----------------------
- GEOPHIRES Version: 3.4.3
+ GEOPHIRES Version: 3.4.11
  GEOPHIRES Build Date: 2022-06-30
- Simulation Date: 2024-02-16
- Simulation Time:  10:34
- Calculation Time:      0.620 sec
+ Simulation Date: 2024-03-01
+ Simulation Time:  12:32
+ Calculation Time:      0.614 sec
 
                            ***SUMMARY OF RESULTS***
 
@@ -30,7 +30,7 @@ Simulation Metadata
       Project lifetime:                                      30 yr
       Capacity factor:                                       90.0 %
       Project NPV:                                         196.21 MUSD
-      Project IRR:                                           0.21 %
+      Project IRR:                                          21.15 %
       Project VIR=PI=PIR:                                    3.22
       Project MOIC:                                          5.24
 
diff --git a/tests/geophires_x_tests/test_economics.py b/tests/geophires_x_tests/test_economics.py
@@ -0,0 +1,29 @@
+from base_test_case import BaseTestCase
+from geophires_x.Economics import CalculateFinancialPerformance
+
+
+class ReservoirTestCase(BaseTestCase):
+    def test_irr(self):
+        """
+        Test cases adapted from https://numpy.org/numpy-financial/latest/irr.html
+        """
+
+        def cumm_revenue(total_revenue):
+            cumm_revenue = [total_revenue[0]] * len(total_revenue)
+            cumm_revenue[1] = total_revenue[1]
+            for i in range(2, len(total_revenue)):
+                cumm_revenue[i] = cumm_revenue[i - 1] + total_revenue[i]
+            return cumm_revenue
+
+        def calc_irr(total_revenue):
+            NPV, IRR, VIR, MOIC = CalculateFinancialPerformance(
+                30, 5, total_revenue, cumm_revenue(total_revenue), 1000, 10
+            )
+
+            return IRR
+
+        self.assertAlmostEqual(28.095, calc_irr([-100, 39, 59, 55, 20]), places=3)
+        self.assertAlmostEqual(-9.55, calc_irr([-100, 0, 0, 74]), places=2)
+        self.assertAlmostEqual(-8.33, calc_irr([-100, 100, 0, -7]), places=2)
+        self.assertAlmostEqual(6.21, calc_irr([-100, 100, 0, 7]), places=2)
+        self.assertAlmostEqual(8.86, calc_irr([-5, 10.5, 1, -8, 1]), places=2)
