About this course
Students will learn to quantitatively assess the value of a project at all stages of development, and measure that value from the perspective of a developer, investor, and customer with a partnership flip. Students will learn to calculate project returns (IRR and NPV), set PPA prices (with and without escalators), calculate the value of tax benefits, including MACRS depreciation and the ITC, and assess the value and timing of non-federal subsidies. Students will also learn the importance of workbook organization and information presentation.
For more information about this course please review this guide: Compare: Solar Executive MBA Training VS Financial Modeling for Solar PV Projects
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Learning Objectives
- Learn how to 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
- Learn to calculate project returns (IRR and NPV)
- Learn how to set PPA prices (with and without escalators)
- Learn how to calculate the value of tax benefits, including MACRS depreciation and the ITC
- Learn how to assess the value and timing of non-federal subsidies
- Learn the importance of workbook organization and information presentation
Course outline
5 modules • 49 assignments • 10:22 hours of video lectures
Welcome • 2 assignments
Orientation Materials
This course is self-paced, so you don’t need to be logged in at any specific time. You can get started immediately after you enroll and the course materials will remain in your account with minimum guaranteed access for 12 months (1 year) after enrollment.
- Set up email notifications and your student profile
- Introduce yourself on the discussion board
Module 1 • 9 assignments
Introduction to Modeling
TOPICS: General Principles, Good Practices, Important Functions, Formulas, Commands & Techniques. HOMEWORK: Create a Lease vs. Buy Calculator for Any Project Site
- Course Overview (07:35 minutes) Preview
- Housekeeping (09:56 minutes) Preview
- Planning and Organizing (20:40 minutes)
- Homework Assignment Description and File Upload
- Solar Modeling Class 1 Homework Sample - Site Lease vs. Buy (Excel) (.xlsx)
- Week 1 Presentation Slides (.pdf)
- Solar Model with 8760 and Cash Flow v1.7 (.xlsx)
- Video Recording of Class Call, 4/8/22 (56:48 minutes)
- Video of Class Call on June 13 2022 (58:47 minutes)
Module 2 • 10 assignments
Understanding Key Concepts
TOPICS: Tax Benefits: ITC & Depreciation, Reflecting State Taxes & Incentives, Working with Leverage, Understanding P95 & Insolation. HOMEWORK: Create a Debt Module for Amortizing & Sculpted Loans using template.
- Model Tour - Overview and Dashboard (19:23 minutes)
- Model Tour - Solar Production and Revenue (16:02 minutes)
- Model Tour - Partnership Flip and Customer Analysis (25:35 minutes)
- Model Tour - Unstructured and EBITDA (20:31 minutes)
- Homework Assignment - Unstructured Model (.pdf)
- Homework Assignment - File Upload
- Supplemental Video - Auditing & Correcting a Name for Insurance Calculations (08:40 minutes)
- Solar Model with 8760 and Cash Flow Template for Homework v1.6 (.xlsx)
- Partnership Flip Overview (.pdf)
- Class Call Recording 02/11/22 (59:20 minutes)
Module 3 • 8 assignments
Modeling and Analysis, Part 1
TOPICS: Basic Unstructured Project Model, Buyout Calculations, Mastering IRR and NPV, Using Goal Seek for PPA Pricing. HOMEWORK: Create an Unstructured Model of a Solar Project using the provided template
- Modeling Overview: 12 Basic Commands, Functions, and Formulas - Part 1 (36:07 minutes)
- Modeling Overview: 12 Basic Commands, Functions, and Formulas - Part 2 (18:45 minutes)
- Modeling Overview: 12 Basic Commands, Functions, and Formulas - Part 3 (15:22 minutes)
- Modeling Overview: Four Important Features or Tools (28:31 minutes)
- Week 3 Homework (.pdf)
- Homework Assignment - File Upload
- Solar Model - 12 Basic Commands Formulas and Functions (.xlsx)
- Class Call Recording 02/18/22 (01:02:07 hours)
Module 4 • 10 assignments
Modeling and Analysis, Part 2
TOPICS: Using Goal Seek for PPA Pricing, Modeling Partnership Flips for Year-End and Mid-Year Flips, Analysis and Risk Management, Integrating Your Model with your Business. HOMEWORK: Create a Partnership Flip with provided template; goal seek a PPA price.
- Depreciation (28:06 minutes) Preview
- Presentation Slides - Depreciation (.pdf)
- Depreciation Example (.xlsx)
- Understanding and Modeling the Partnership Flip (34:58 minutes)
- Presentation Slides - Partnership Flip (.pdf)
- Leverage (34:07 minutes)
- Presentation Slides - Leverage (.pdf)
- Leverage Example (.xlsx)
- Complete & Upload the Customer Analysis Worksheet in your Template Model.
- Class Call Recording 02 25 22 (01:00:49 hours)
Module 5 • 6 assignments
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.
- Upload Your Modeling Tool
- Class Call 5 - Related Article
- Audio recording of Class Call, 03/20/20
- Audio recording of Class Call, 03/20/20
- Audio recording of Class Call, 03/20/20
- Audio recording of Class Call, 03/20/20
Conclusion • 4 assignments
Feedback and Additional Resources
This is our last module but you still have access to the all of course materials for 12 months (1 year), so keep working and you'll be able to complete the course at your own pace. After your year of access expires you can optionally extend access with a HeatSpring Membership. Enjoy the course and keep in touch!
- 1 Year of Access to Course Materials
- Feedback: 2-minute Exit Survey
- Consider Joining as a HeatSpring Member
- Certificate of Completion: Request a Certificate
Instructor
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Chris Lord
Managing Director, CapIron, Inc.Christopher J. Lord is the Managing Director of CapIron, Inc., a firm focused, among other things, on helping clients plan, structure and close financings involving renewable energy projects, including Distributed Generation and Utility-Scale Projects. Mr. Lord graduated from Cornell Law School, and practiced corporate law in firms, and in-house, for over 25 years. He... Learn more
Frequently asked questions
How does this course work?
How is this course different from the Solar Executive MBA Training?
How long do I have access to the materials?
How applicable is this course to students outside of the United States?
For the most part, we won’t cover the specific subsidies and tax treatments for countries other than the US, but the bulk of the material is readily applicable to all solar projects regardless of the country.