> For the complete documentation index, see [llms.txt](https://docs.suno.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.suno.finance/financial-model.md).

# The Financial Model

- [Introduction](https://docs.suno.finance/financial-model/overview.md): The methodology that turns a solar plant into an auditable net present value and a NAV per pWatt.
- [Inputs and data](https://docs.suno.finance/financial-model/inputs-and-data.md): Every input the model consumes and the rule that governs it: telemetry, OPEX, macro sets, the PPA curve, risk scores.
- [The valuation engine](https://docs.suno.finance/financial-model/valuation-engine.md): The year-by-year engine: time factors, generation, revenue, certificates, costs, and the published table.
- [Equipment replacement](https://docs.suno.finance/financial-model/equipment-replacement.md): Replacements priced as discrete events, with dual-currency escalation, downtime, and reference archetypes.
- [Discounting and NAV](https://docs.suno.finance/financial-model/discounting-and-nav.md): The discount rate build-up, the liquidity argument, the mid-year convention, withholding, and the step from NPV to NAV.
- [Sensitivity analysis](https://docs.suno.finance/financial-model/sensitivity-analysis.md): The tornado analysis shipped with every valuation: lever types, calibration, and the combined NAV range.
- [Governance and auditability](https://docs.suno.finance/financial-model/governance-and-auditability.md): Published versions, frozen snapshots, the golden-master regression, the active pointer, and recalibration.
- [Assumptions and limitations](https://docs.suno.finance/financial-model/assumptions-and-limitations.md): What the model assumes, what it simplifies, and what is on its roadmap.


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