What does 'Value' mean in solar farm cost formula?

[t0mm02]

Homework Statement

Paybacl

Relevant Equations

Payback formula

Hello.

I am reading through a solar farm paper and I am getting a bit confused at looking at this formula:

When it says "Value", I am guessing it refers to the cost of electricity per kWh? If that is the case, I wonder how many kWh are 18.4p/kWh?

 

[Gordianus]

p=pence?

 

[Office_Shredder]

The value is the cost of one kilowatt-hour of electricity in dollars on the open market.

18 cents or pence or whatever seems like a plausible cost for 1 kilowatt-hour