Financial Modeling for Solar PV Projects
This is a unique and intensive hands-on course on financial modeling distributed generation solar PV projects. The course comes with sample financial models of an unstructured income statement, a partnership flip, and a sale-leaseback, the focus is on teaching the tools, techniques, and formulas necessary for efficient and reliable modeling. Overall, the four sessions culminate with students setting a PPA rate with escalator and valuing a real project of their own choosing using the financial models they built, tested, and proofed during the course.
- Quantitatively assess the value of a project at all stages of development and how to measure that value from the perspective of a developer, investor, and customer with a partnership flip
- Calculate project returns (IRR and NPV)
- Understand how to set PPA prices (with and without escalators)
- Calculate the value of tax benefits, including MACRS depreciation and the ITC
- Assess the value and timing of non-federal subsidies
- Learn the importance of workbook organization and information presentation
Length: 5 weeks
About the Instructor
Christopher J. Lord is a lawyer with deep banking experience, and the Managing Director of CapIron, Inc., a firm he founded in late 2011, to provide advisory and consulting services to customers, owners, developers, utilities, suppliers, installers and distributors covering the full range of value-add in renewable energy and energy efficiency. CapIron has provided consulting and modeling services for waste-to-energy projects, advisory services to a large-scale distributed generation solar project, consulting and advisory services in the solar thermal industry and early-stage development of a startup wind energy company.
Included: Valuable Excel Models
Students are given a working model of an unstructured project and a project flip. Then, students are encouraged to create their own models based on templates provided with the class material and to use the working model as a reference tool.
Self-Paced Online Course
You can begin this online course instantly upon enrollment. Although the course will not officially begin until the scheduled start date, students are encouraged to work ahead when possible.
Access Information and Build Your Training Library
After enrolling, the course materials will remain in your account and be accessible 12 months (1 year) after enrollment. Access can be extended beyond 1 year with a monthly membership. Additionally, you can return to your course anytime with online access from anywhere in the world.
Earn a Certificate of Completion
When you complete this course you are eligible for a certificate of completion from HeatSpring. Certificates are also downloadable as soon as you have completed all of the course requirements. Students can easily share their verified certificates on their LinkedIn profiles using our one-click LinkedIn integration.
Welcome – Orientation Materials
This course is self-paced, so you don’t need to be logged in at any specific time. You can complete the material whenever is convenient and work ahead or catch up if you fall behind. The discussion board is a great place to interact with other students and ask questions. Expect to dedicate a minimum of 5 hours per week to the course. This session runs for the posted dates and you will receive weekly emails to keep you on pace. Course materials will remain in your account with minimum guaranteed access for 12 months (1 year) after the course ends. Please review the orientation materials and introduce yourself on the discussion board.
Week 1 – Introduction to Modeling
To begin, topics include: General Principles, Good Practices, Important Functions, Formulas, Commands & Techniques. For homework, you will create a Lease vs. Buy Calculator for Any Project Site.
Week 2 – Understanding Key Concepts
In week two, topics include: Tax Benefits: ITC & Depreciation, Reflecting State Taxes & Incentives, Working with Leverage, Understanding P95 & Insolation. You will then create a Debt Module for Amortizing & Sculpted Loans using template.
Week 3 – Modeling and Analysis, Part 1
Topic for this week include: Basic Unstructured Project Model, Buyout Calculations, Mastering IRR and NPV, Using Goal Seek for PPA Pricing. Lastly, You will be required to create an Unstructured Model of a Solar Project using the provided template.
Week 4 – Modeling and Analysis, Part 2
Topics include using Goal Seek for PPA Pricing, Modeling Partnership Flips for Year-End and Mid-Year Flips, Analysis and Risk Management, and Integrating Your Model with your Business.
Week 5 – Build and Submit Your Own Project Modeling Tool
This is your opportunity to customize the model template from class to be used most efficiently on the projects you’re working on.
After The Course – Feedback and Additional Resources
No matter how great this course is, we know it’s just one part of a bigger journey. In this module we’ll start thinking about what comes next. Lastly, you’ll provide feedback on the course, request a certificate of completion, and learn about additional resources. Don’t forget that you’ll have access to the course materials will remain in your account with minimum guaranteed access for 12 months (1 year). Feel free to come back as much as you like to continue learning, and please stay in touch. Let us know what you do next and how we can help.