New Open Source energy modelling tool - the Cost of Capital

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Mark Howells

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May 23, 2025, 8:53:54 AMMay 23
to openmod initiative

Dear Brilliant Open-Minded Energy Modellers: ===================================== First of — Happy Friday, secondly: ===================================== 🌍 Exciting News from www.ClimateCompatibleGrowth.com ! 🌱 We’ve launched FINCoRE, a new open-source tool and online training to estimate the cost of capital for key renewable energy technologies in 176 countries! 💡Built by Imperial College London, FINCoRE supports accurate energy finance planning for solar, wind, hydro, and more in LMICs. Explore global heatmaps, country projections, and tech comparisons via our interactive webtool. 📊 Integrate it with tools like OSeMOSYS, FINPLAN, MINFin - and others - for smarter energy transition strategies. 🚀 Try it out and take our free OpenLearn course to dive in!

🔗 Use FINCoRE: https://wacc-forecaster.streamlit.app/ 🔗 Free Course: https://www.open.edu/open

Read more here: https://climatecompatiblegrowth.com/ccg-launches-new-tool-for-estimating-the-cost-of-capital-for-key-generation-technologies/

Happy modelling!

Best, Mark

Mark Howells (Prof)

Director ClimateCompatibleGrowth.com 

Joint Director STEER Centre, Loughborough University

Principal Research Fellow, Centre for Environmental Policy, Imperial College

Editor in Chief Energy Strategy Reviews

Google Scholar


Robbie Morrison

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May 23, 2025, 10:24:36 AMMay 23
to openmod-i...@googlegroups.com

Hi Mark, hi Luke


Please correct me if I am wrong on any of these points. The FINCoRE application:

  • runs in the cloud
  • its calibration data is non‑open under CC‑BY‑NC‑4.0
  • its source code is not currently public
  • and its code license has not been announced

Regarding code publication, I only found the following on the web (and I don't think the namespace clashes are a problem):

While here, I never figured out the open status of MAED and FinPlan, both of which originated from the International Atomic Energy Agency. More background here:

Can someone help out?  TIA.


I would really like to see these kind of issues resolved.  The central matters for this community.


with best wishes, Robbie

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Mark Howells

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May 23, 2025, 11:12:51 AMMay 23
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Dear Robbie:

Best contact the IAEA directly on the tools that they have open-sourced. But licences seem to be on the respective GitHub pages.

On FINCoRE the licence for the code is on its GitHub page. https://github.com/lukehatton21/wacc-forecaster/blob/main/streamlit_app.py. Please feel free to use the code (!!). 

As for source data in CC4.0 that you can use to calibrate the model ... anyone who wants to give it a go PLEASE do (!!) It would be lovely to have.


Best, Mark 

From: openmod-i...@googlegroups.com <openmod-i...@googlegroups.com> on behalf of Robbie Morrison <robbie....@posteo.de>
Sent: 23 May 2025 15:24
To: openmod-i...@googlegroups.com <openmod-i...@googlegroups.com>
Subject: Re: [openmod-initiative] New Open Source energy modelling tool - the Cost of Capital
 

** THIS MESSAGE ORIGINATED OUTSIDE LOUGHBOROUGH UNIVERSITY **

** Be wary of links or attachments, especially if the email is unsolicited or you don't recognise the sender's email address. **

Robbie Morrison

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May 23, 2025, 12:00:53 PMMay 23
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Thanks Mark

It's not really my place to push the International Atomic Energy Agency (IAEA)/OSeMOSYS community to conduct their development in public.  The URL you provided has had no code activity whatsoever in its two-plus years of existence.  And there is strong active development elsewhere.

I checked with my open-source legal network as a precaution.  There is no technical requirement for an open-source project to establish a community.  So that sets the lower benchmark.

However the openmod was formed to promote open science and policy transparency, which provides a much higher bar.

I tried hard to determine the status of MAED/MAED-2 on the forum thread I mentioned.  And was told that MAED was now open source.  However, the current context does not align with my expectations for open development — and I suspect that few in this community would describe MAED as an open‑source project.

I suggest that the OSeMOSYS community put pressure the IAEA to adopt open development.  Otherwise, this project and FinPlan should be described as proprietary software.

I'm sorry to be so harsh, but I do feel somewhat gaslit through this process.  If there is anything I can do to support future discussions with the IAEA in this context, I would be happy to contribute.

with best wishes, Robbie

Mark Howells

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May 26, 2025, 6:38:00 AMMay 26
to openmod initiative, Fernando Plazas Ni-O, Lara Dixon
Dear All: Coming in thick and fast (!) Just wanted to flag up another open-source project that may be of use to folk. This is on Energy and other Infrastructure Resilience Modelling. A training event at the last Energy Modelling Platform for Africa***. GitHub: https://github.com/nismod And free downloads, course, and certification is available on the Open Learn Online course: https://www.open.edu/openlearncreate/course/view.php?id=13723

Dear Robbie (answer to your request that "the OSeMOSYS community put pressure the IAEA to adopt open development."): I don’t speak for the OSeMOSYS community as I once had the privilege of doing - nor think they can be pressured to act on a UN Agency. They’re now a vast group and top publishers of peer-reviewed studies (see). I was a bit more in touch when our mission was to develop the first open (from source to solver), accessible energy model that sparked key openness discussions in the mainstream for the first time**.

**Dear All: For anyone into the early history I am compiling a note here. Obviously I am a little biased 🙂, but I'd be grateful for any corrections / additions.  Please ping Fernando, Lara and I (off group) if you'd like to contribute.
As part of the Climate Compatible Growth #CCG programme, OPSIS researchers Silvia Colombo and Tom R. recently ran a training course on infrastructure climate risk assessment. Participants attended from Nigeria, Ghana, DRC and South Africa. The 3-week training was part of EMP-A (Energy Modelling Platform – Africa) 2025 and has just wrapped up – this post is a brief reflection on its impact and take-aways. The National Infrastructure Systems Modelling for Climate Resilience (NISMOD-CR) course was delivered entirely online, yet it proved to be a rewarding learning experience for everyone involved. We introduced methods for risk assessment, then explored how to apply NISMOD tools and how to visualize the results using Python and GIS software. The exchange between trainers and participants, all bringing their expertise in climate-resilient infrastructure systems, was enriching and led to final projects mapping and assessing the risk and resilience of transport, energy, and agricultural infrastructure, particul

Sent: 23 May 2025 17:00

Robbie Morrison

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May 27, 2025, 5:49:57 AMMay 27
to openmod list

Hello Mark, hello all


I had hoped I could prompt efforts towards resolving the code publication and licensing strategies for the MAED‑2 (sometimes MAED) and FinPlan (sometimes FINPLAN) projects. Unfortunately that prospect, it seems, is fading. I would have preferred to work behind the scenes and have done so to some extent (as those involved will know). However I now have no real alternative but to respond directly to recent traffic on this list.


It is clear to me that the related GitHub repos for MAED and FINPLAN were established as red herrings and lack institutional backing.


Considering the current state of discussion on this list server, all I am asking is that people stand by their recent statements.


On 22 April 2025, Mark described MAED as "open source", indicated a close collaboration with the "brilliant peeps" at the International Atomic Energy Agency (IAEA), and included a link to the inactive GitHub repo.


In terms of background, some time ago, Will Usher (KTH Stockholm) wrote about the difficulty of working with in‑house legal at the IAEA.


In April 2024, Naomi Tan (Loughborough University) published comprehensive documentation for FINPLAN, although with no reference to a public repository or licensing or even open source status.


I bring in these two people because Mark previously referenced them in this regard.


The newly reworked OSeMOSYS community discussion server (planned URL) cites both MAED and FINPLAN as open source.


Perhaps those with more influence that I can push for progress with the IAEA in regards to MAED‑2 and FinPlan?


It saddens me to write these kinds of posts, no one comes out looking good, and I think our openmod community suffers a little as a result.


with best wishes, kia kaha, Robbie

Mark Howells

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May 27, 2025, 6:41:48 AMMay 27
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Thanks Robbie:

* An easier route might just be to ask the bloke who put the repro together for more info. He is a green heron rather than a red herring. At least that was our experience with the MUIO interface for OSeMOSYS (https://github.com/OSeMOSYS/MUIO), which he helped build [will shoot a mail off on this later]. I'll drop him a note, and hope to meet him in person in around 3 weeks, so will follow up.

* As per the note below please also see (and feel free to comment on) the shout out for GitHub: https://github.com/nismod And free downloads, course, and certification is available on the Open Learn Online course: https://www.open.edu/openlearncreate/course/view.php?id=13723, an excellent new set of material from Oxford.

* And an ask for anyone who want to contribute to compiling a note here on the early years of getting energy models together that was accessible, and open from source-to-solver; and starting conversations about open source and peer-reviewed discussions. (Please do connect offline if you'd like to join the effort / clarify / correct info etc.)

* Finally (and thank you for this catch, Robbie) we had erroneously licenced the  https://github.com/LukeHatton21/wacc-estimator/tree/main under CC‑BY‑NC‑4.0. Will follow that up with Luke separately.

Best, Mark

Sent: 27 May 2025 10:49
To: openmod list <openmod-i...@googlegroups.com>
Subject: Re: [openmod-initiative] New Open Source energy modelling tool - Resilience and Adaptation
 

Mark Howells

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May 27, 2025, 12:04:18 PMMay 27
to openmod list
Dear All & Robbie: Apologies for the spam. I seemed to miss part of Robbie's point earlier. While MAED, for e.g. is open source (licence here) and FINPLAN (here) the issue is that there is no clear route for anyone to jump into its development, independent code testing and forking is second best. As noted below, on the first * I'll have some informal comms and follow up. Best, Mark

From: Mark Howells <M.I.H...@lboro.ac.uk>
Sent: 27 May 2025 11:41

Mark Howells

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Jun 18, 2025, 8:17:28 AMJun 18
to openmod list
Dear All: Open-source energy modelling has been having a massive impact in Africa. Not sure if folk have been following, but if not, I copied the content of thism (https://www.linkedin.com/posts/dimitris-mentis-phd-6abb4553_oseas2025-opensource-energyaccess-activity-7341028211796901890-x3UO?utm_source=share&utm_medium=member_desktop&rcm=ACoAAASDIv4BgUGYGhvqM-pRRxiCH0d1YgX_z58) LinkedIn post below:

🌍 𝗔𝗹𝗼𝗻𝗲 𝘄𝗲 𝗰𝗮𝗻 𝗱𝗼 𝘀𝗼 𝗹𝗶𝘁𝘁𝗹𝗲, 𝘁𝗼𝗴𝗲𝘁𝗵𝗲𝗿 𝘄𝗲 𝗰𝗮𝗻 𝗱𝗼 𝘀𝗼 𝗺𝘂𝗰𝗵 🌍

#OSEAS2025 has come to a close, and I’m still buzzing.

Nearly 300 of us came together for the 𝗢𝗽𝗲𝗻 𝗦𝗼𝘂𝗿𝗰𝗲 𝗶𝗻 𝗘𝗻𝗲𝗿𝗴𝘆 𝗔𝗰𝗰𝗲𝘀𝘀 𝗦𝘆𝗺𝗽𝗼𝘀𝗶𝘂𝗺, dreamers, doers, developers, energy planners, and community champions, all bound by a shared belief:
#opensource has a vital role to play in accelerating
#energyaccess.

We had 60+ speakers across 20+ sessions, with standout moments from incredible voices like Prof. Izael Da Silva, Sarah Odera, Rebekah Shirley, Ph.D., Benson Mutuku who reminded us that open source isn’t just about tech. It’s about people, policy, and development.

🧡 𝗢𝗻𝗲 𝗺𝗼𝗺𝗲𝗻𝘁 𝗜’𝗹𝗹 𝗻𝗲𝘃𝗲𝗿 𝗳𝗼𝗿𝗴𝗲𝘁

Our field visit to
#Makueni County. We saw a solarized hospital providing life-saving services, and a mango juice factory essential for the local economy, and heard firsthand how open-source solutions are already changing lives.

🦁🐘🦏🐆🐃 𝗔𝗻𝗼𝘁𝗵𝗲𝗿 𝘀𝘁𝗮𝗻𝗱𝗼𝘂𝘁: The 𝗢𝗦𝗘𝗔𝗦 𝗕𝗶𝗴 𝟱! Our Poster Safari took participants on a journey through the five open source pillars of energy access projects, from 𝗥𝗲𝘀𝗼𝘂𝗿𝗰𝗲 𝗔𝘀𝘀𝗲𝘀𝘀𝗺𝗲𝗻𝘁 𝗮𝗻𝗱 𝗣𝗹𝗮𝗻𝗻𝗶𝗻𝗴, 𝘁𝗼 𝗙𝗶𝗻𝗮𝗻𝗰𝗲, 𝗜𝗺𝗽𝗹𝗲𝗺𝗲𝗻𝘁𝗮𝘁𝗶𝗼𝗻, and 𝗠𝗼𝗻𝗶𝘁𝗼𝗿𝗶𝗻𝗴 & 𝗢𝗽𝗲𝗿𝗮𝘁𝗶𝗼𝗻𝘀. Participants voted on posters that showed the most relevant, rigorous, and impactful use of open tools.

🤖 And in just 1.5 days, the 𝗢𝗦𝗘𝗔𝗦 𝗛𝗮𝗰𝗸𝗮𝘁𝗵𝗼𝗻 teams built a number of solutions, including an early working version of the Energy Access Explorer 𝗔𝗜 𝗖𝗵𝗮𝘁. Proof that when open minds meet open tools, innovation accelerates.

⚡ 𝗢𝗦𝗘𝗔𝗦 𝗶𝘀𝗻’𝘁 𝗷𝘂𝘀𝘁 𝗮 𝘀𝘆𝗺𝗽𝗼𝘀𝗶𝘂𝗺, 𝗶𝘁 𝗶𝘀 𝗮 𝗰𝗼𝗺𝗺𝘂𝗻𝗶𝘁𝘆 𝗶𝗻 𝗮𝗰𝘁𝗶𝗼𝗻.

With 170+ organizations, and so many spontaneous meetups, GitHub commits, and late-night debates, it was impossible to leave without a renewed sense of purpose.

🙏🏾 To everyone who joined, from Berlin to Addis, Washington to Dhaka, from CEO to coder, all OSEAS Avengers 𝘁𝗵𝗮𝗻𝗸 𝗬𝗢𝗨! You reminded us that our work on energy systems transitions must be open, inclusive, and collaborative.

If you are interested in supporting the next edition of OSEAS, please do get in touch!


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