Coming Aug 05, 2026. Pre-order and save
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How to Perform Due Diligence on a Solar Project
Keith Cronin
$2,245.50
$2,495
About this course
How to perform due diligence on a solar project.
Learn all of the steps to screen a potential solar project as there are 4 quadrants – economics- financial modeling, real estate- site control, interconnection- utility, and EPC – the building.
The solar business is complicated and risk is everywhere.
In this course you will learn the basics of screening a project and advanced strategies for development and even the sale of a solar asset.
You’ll get instant access to thousands of dollars’ worth of contract documents as well as a financial model. These are all updated in July of 2026 and you will learn more about what the business is like from safe harboring your project to living in a post ITC world.
· EPC Agreement (Engineering, Procurement, and Construction)
· DSA (Development Services Agreement)
· MIPA (Membership Interest Purchase Agreement)
· O&M Agreement (Operations and Maintenance Agreement)
· PPA/SSA (Power Purchase Agreement/Solar Services Agreement) with site license
· Financial Model- understand the economics of a project for development or for an acquisition.
· Intake Form- know what finance parties are looking for, to fund your next project
· Data Room – a complete and comprehensive platform to organize all of your documents for your project in one place.
· Project Screening Tool with a Risk Matrix- know what to look out for in Site Control, Permitting, Power Offtake, Interconnection, Engineering, Construction, and essential Project Metrics.
In the course, you will have 2 case studies in which you get projects to work on and understand all of the gating items from originating a project, site control, development, interconnection, financial modeling, term sheets, MIPA, loans, tax equity, construction, operations and maintenance, financial closing and data room management between parties.
The case studies are in CA and RI. They are unique in their own ways and you'll learn how to navigate the financial model and how to think about acquiring projects like these from an investors point of view.
You’ll submit your assignments and be provided feedback and answer questions you may have about the materials.
If there is interest, we will have monthly calls to go over your assignment questions and providing context and strategies for navigating your situation.
The case studies are in CA and RI. They are unique in their own ways and you'll learn how to navigate the financial model and how to think about acquiring projects like these from an investors point of view.
You’ll submit your assignments and be provided feedback and answer questions you may have about the materials.
If there is interest, we will have monthly calls to go over your assignment questions and providing context and strategies for navigating your situation.
Looking forward to seeing you inside the course.
Keith Cronin
Subjects covered
Solar
Design and Installation
Utility Interconnection
Batteries and Storage
Inspection, O&M
Energy Finance
Business Growth
Learning Objectives
- Identify if a solar project is economically viable before applying for interconnection. This means you'll need to begin with a financial model to determine if an investor can achieve an internal rate of return and the client/offtaker can save money. This applies to most situations with a PPA/SSA/ESA, unless it is a FIT program. Then we are solving for a program rate per kWh, a roof or ground lease and the capex of the project.
- In solar development, we also need to take into consideration, the real estate. This can be for a rooftop solar project, were you might need to have a lease with the building owner or a land owner. Knowing that there could be a cost needs to be calculated in the operating expenses
- Interconnection is a significant risk for small and large projects alike. Rooftop solar on a building whose electrical infrastructure is old, could require upgrades. Those costs need to be considered in the financial model. For ground mounted projects in rural settings, these costs can run in the millions. Knowing these in advance and or in parallel is a key learning objective of solar development.
- EPC- the engineering of a project, the procurement of equipment, and the construction of the project can carry significant risks. This can be in a rooftop project to a ground mounted project. Permitting, design, installations, schedules, weather, site conditions all play a role in a projects' success.
Course outline
10 modules
35 - 60 hours to complete
1.
Orientation Materials
1.
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.
2.
Financial Modeling - Introduction
2.
Financial Modeling - Introduction
This is the economic evaluation of a project as a first gating item.
We often use this a the first step in seeing if a project makes sense or not to build or if an investor would be interested in.
We often use this a the first step in seeing if a project makes sense or not to build or if an investor would be interested in.
3.
Development Services Agreement - What is it?
3.
Development Services Agreement - What is it?
This is the intro into the DSA.
It is a high level overview the parties relationships with each other and how this mechanism works.
We're not providing legal, tax or accounting advice in this video or anywhere in this course, but go over the commercial conditions in which these deals are structures.
It is a high level overview the parties relationships with each other and how this mechanism works.
We're not providing legal, tax or accounting advice in this video or anywhere in this course, but go over the commercial conditions in which these deals are structures.
4.
EPC Agreement
4.
EPC Agreement
In this module, we will walk you through an EPC agreement and provide you with a template. We're not providing legal advice, but more going through commercial terms that EPC's and developers work through daily.
5.
Operations and Maintenance Agreement
5.
Operations and Maintenance Agreement
In this module, we'll go over the details of the O&M agreement through the lens of the developer looking to subcontract the work to an EPC or a 3rd party O&M provider.
6.
SSA/PPA Agreement
6.
SSA/PPA Agreement
We have known for decades the idea of a PPA- Power Purchase Agreement. They have gotten more nuances to be a SSA- Solar Services Agreement. There are also ESA- Energy Services Agreements for storage.
7.
MIPA - Membership Interest Purchase Agreement
7.
MIPA - Membership Interest Purchase Agreement
This is a standard agreement in the solar industry.
Consult your legal counsel for feedback on this agreement, as we aren't offering legal advice.
Consult your legal counsel for feedback on this agreement, as we aren't offering legal advice.
8.
Data Room Example
8.
Data Room Example
This is for Google Drive.
You can see the folder structure as a guide.
You can see the folder structure as a guide.
9.
2 Case Studies for Solar Projects - CA & RI
9.
2 Case Studies for Solar Projects - CA & RI
In this module, you will use all of the things you've learned in this course to answer the questions in the case studies.
One project is in California and the other is in Rhode Island.
They each have different goals and characteristics for you to solve for.
You will utilize the Financial models to start, then think through interconnection, EPC agreements and the Operations and Maintenance costs. In addition, think through the Operating Expenses as this is essential.
They are in PowerPoint and can be submitted in PPTX and any additional supporting collateral to show your work and how you arrived at your conclusions. This includes the actual Financial model, the PPTX, and a Word doc if needed.
One project is in California and the other is in Rhode Island.
They each have different goals and characteristics for you to solve for.
You will utilize the Financial models to start, then think through interconnection, EPC agreements and the Operations and Maintenance costs. In addition, think through the Operating Expenses as this is essential.
They are in PowerPoint and can be submitted in PPTX and any additional supporting collateral to show your work and how you arrived at your conclusions. This includes the actual Financial model, the PPTX, and a Word doc if needed.
10.
Feedback and Additional Resources
10.
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!
Instructor
Keith Cronin
SunHedge LLC
What kind of world do you want to live in? Two plus decades of cleantech experience on our journey together to sequester carbon in meaningful ways. Blessed with a multidisciplinary skill set of development, finance, business, and deep connections globally. The road to your destiny is often a curved line. After a decade on the East Coast, it catapulted me to Hawaii to...
Frequently asked questions
Full FAQHow does this course work?
You can begin this online course instantly upon enrollment. This course is delivered entirely online. Pre-order courses are available on launch date. This course is self-paced and you can set your own schedule to complete the materials. You can begin the lecture videos and other course materials as soon as you enroll. During your year of access the instructor will be in the course answering questions on the discussion board every Wednesday. After successfully completing the course, you will be able to generate a certificate of completion.
How long do I have access to the materials?
Students get unlimited access to the course materials as soon as they enroll and for one year (365 days) after enrollment. Rewatch videos and review assignments as many times as you want. View updates the instructor makes to the course as the industry advances. Return to your course anytime with online access from anywhere in the world. After the one year of access expires, access can be extended by joining as a HeatSpring member. A single membership extends access to course materials for all past enrollments.
Will the instructor really answer my questions during this course?
Yes! This is an instructor-led online course. You can ask questions on the discussion board and get prompt answers from your instructor. It varies by instructor and by course but typically instructors check-in between daily and weekly to check quiz results or project work, review and respond to discussion board questions and read survey responses. Check the enrollment page for specific information about each instructor's check-in frequency.
Is there a certificate of completion?
Yes, 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 LinkedIn integration.
Can I register multiple people?
Yes, please visit our For Teams page to get a group discount.
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