Commercial Solar PPAs 101

Online

Length: 4 modules

Instructors: Keith Cronin, Chris Lord, Mahesh Bhave

Subjects: Solar: Energy Finance, Solar: Marketing and Sales

Student Rating

Rating: 7.9/10 (view ratings)
2,309 students have taken this course

Description

This is the most in-depth free course on commercial solar finance and microgrids available online. You'll learn the basics of community solar, how Power Purchase Agreements (PPAs) work, the key legal structures used to finance projects, the basics of financial modeling, and how to determine the economic feasibility of microgrids.

After taking this course you will understand:

Self-Paced Online Course

This online course is both self-serve and self-paced. You can begin instantly upon enrollment.

Access Information and Build Your Training Library

After enrolling, the course materials will remain in your account and be accessible for as long as the course is offered on the HeatSpring.com marketplace, with minimum guaranteed access for 12 months (1 year) after enrollment. 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. You can download your certificate 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.

Instructors

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Keith Cronin

SunHedge LLC

Keith Cronin is an in-demand business consultant, speaker and founder of The Solar Business Blueprint, a life changing training program that assists business owners with the tools, resources and metrics needed to grow and manage their solar businesses. He has helped solar companies achieve their goals through his training, speeches, coaching sessions and products....[more]

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Chris Lord

CapIron, Inc.

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...[more]

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Mahesh Bhave

Visiting Professor, Indian Institute of Management

Mahesh Bhave is a Visiting Professor of Strategy at Indian Institute of Management, Kozhikode, India. He has worked in product management, strategy, and business development positions at Hughes, Sprint, and Citizens in the United States. He is the founder of a rich media communications start-up in San Diego, CA. He is an engineer from IIT, New Delhi and Ph.D. from...[more]

Course Outline

Legal Structures 101

This module includes a recording of a one-hour event—with solar finance experts Chris Lord and Keith Cronin—on how commercial solar EPCs can develop and own their own solar projects. The second section of this course will deal with the basic concepts and terms behind the legal structures used to finance commercial solar PPAs. We'll cover tax equity structures, tax perspectives on partnership flips, how passive loss issues impact the legal structure of projects, and also provide an open source PPA contract.

  • How Commercial Solar EPCs Can Finance Their Own Projects (63 minutes) (Video)
  • Primary Tax Equity Finance Structures (Download .pdf)
  • Reading: Tax Perspectives on a Partnership Flip (Download .pdf)
  • A Discussion of Partnership Flips (3:00) (Video)
  • Master PPA Structures (5:53) (Video)
  • Special Owner/Lessor Arrangements (6:00) (Video)
  • Sample PPA Agreement Template (Download .docx)
  • "How We Financed a 13kW Community Solar Project on a Church in Massachusetts" - HeatSpring Magazine (Resource)
  • Basics of Commercial Solar Legal Structures (8 questions) (Quiz)
Due Diligence and Bankability

This section contains an introduction to the basics of project bankability. Bankability and due diligence are critical to the success of a project. We'll cover how to structure a bankable solar project, how to assess risk with a non-profit solar client, and how to understand and reduce equipment and manufacturer risk.

  • Six Stages of Solar Bankability (Download .pdf)
  • How to Structure a Bankable Solar PV Project (Resource)
  • Assessing Risks with Non-Profit PPAs (11:00) (Video)
Finance and Modeling 101

This section covers the basic terms and concepts related to modeling solar projects. You'll learn how to understand risk in SREC markets, the impact of leverage on projects, all the variables you need to understand when financing a project.

  • Introduction to Leverage - Khan Academy (10:00) (Resource)
  • Understanding Debt, Risk, and Leverage (Resource)
  • Pre- and Post-Tax Returns (10:56) (Video)
  • Understanding Risk in SREC and ZREC Markets (6:36) (Video)
  • Audio: Advice from a $20MM Solar Project Investor (Resource)
Microgrid Modeling

In this section, you will learn what factors determine the economic feasibility of microgrids and how to determine the economics of a microgrid. The instructor for this section is primarily Dr. Mahesh Bhave, the instructor for our Microgrid MBA.

  • Presentation Slides: Microgrid Economics & Feasibility (Download .pdf)
  • "Microgrid Economics and Feasibility" - Part 1 - Lecture (24 minutes) (Video)
  • "Microgrid Economics and Feasibility" - Part 2 - Questions (25 minutes) (Video)
After The Course - Feedback and Additional Resources

In this module, you'll provide feedback on this lecture, request a certificate of completion, and learn about additional resources.

  • Introduction to HeatSpring (1 minute) (Video)
  • Join the Alumni Network: Add education to your LinkedIn profile in one click (Resource)
  • Feedback: 2-minute Exit Survey (Survey)
  • Certificate of Completion: Request a Certificate (Certificate)

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