Date post: | 16-Apr-2017 |
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Engineering |
Upload: | solar-power-world |
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#SolarWebinar
Small Commercial Solar: Growing Your Business with
this Untapped Sector
#SolarWebinar
q This webinar will be available afterwards at solarpowerworldonline.com & email
q Q&A at the end of the presentation q Hashtag for this webinar: #SolarWebinar
Before We Start
#SolarWebinar
Steven Bushong Editor - Moderator Solar Power World
Josh Baston Project Supervisor Revision Energy
Chris Fraga Founder & CEO
SolarSense
Small Commercial Solar: Growing Your Business with This Untapped Sector
Meet the Presenters
Doug MacDonald Project Enginner
AllEarth Renewables
#SolarWebinar
FinancingC&ISolarProjects
ChrisFragaSolarSense
#SolarWebinar
TheGoodNews:• C&Iisprojectedtobethe“hot”growthmarket
sector• Rich/largescalemarketspace
TheBadNews:• C&Ihasa;ractedhundredsofcompe??vefirms• Thebasicsma;ermorethanever
#SolarWebinar
• WouldIinvest$500,000-$2,000,000ofmy(own,family’s)personalre?rementsavingsinthisproject?
• Ifso:Highprobabilityoffinancingsuccess
• Ifnot:Fixtheissues,or,bepreparedforno
#SolarWebinar
TheBasicsMa=er1. Beclear&realis?cwiththetypeoffinancingyouseek
2. Overallquality/designoftheProject:SolarPVproducts,services&siteviability
3. Strength&viabilityofthe:• Hostcustomeroff-taker:likelihoodofopera?ons
for25yrs?• Developer/EPC• State’sincen?vestructure
4. Theprojectfinancialproformamodel
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Capital/StructureYouSeek? UsesofCapital/Details
Developmentfinancing
• Pre-NTPac?vi?es&costs• Developmentteamexpenses• Sitedesigns• Permiang• Interconnec?onsubmi;alprocess
Construc?onfinancing • Productprocurement&carryingcosts• Siteprepara?on• Physicalconstruc?on• Formalinterconnec?on
ProjectAssetSale/PurchaseProjectCo.MIPA
• @NTP?• @COD?
Debt • Term• Rate• Amor?za?on• DebtServiceCoverageRa?o
Equity/TaxEquity • Structureofinvestment:• Saleleaseback?• PartnershipFlip?• Other
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TheEssenHalFinancingDocs
1. TheProject:• SolarPVdesign/systemoutputsummary• Productselec?on,cutsheets&warran?es• Timeline/realis?cstatus&capital
?meline
2. Sitecontroldocument(lease,license,easement)
3. PPAwithfinanceableterms
4. Hostcustomer&Developer/EPCinfo:• Narra?ve/summaryofbusinessquals• (3)threeyearsfinancialstatements&
CPA/Auditorpreparedtaxreturns
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TopPPA“Challenges”1. “Floa?ng”PPArate
– %discountPPAratevs.u?litypricing
2. NoannualPPArateincrease
3. Noearlytermina?onvalues,par?cularlyforonpremisesystems
4. Thecontractriskisontheinvestor/financier–customer“cannottakeanyrisk”
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TopFinancing“Challenges”1. Sub-parproductselec?ontomakeEPC
costswork
2. Unrealis?cdeveloper/EPCexpecta?onsonstructure/terms:
• %ofdebt• Developer%carryindeal
3. InflatedSRECvalueswhicharenotcontracted
4. Unrealis?c?mingexpecta?onsonfinancingclose
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ScaleResidenHalSolarintoSmallCommercialJoshBaston
RevisionEnergy
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ForasmallerresidenHalcompany,makingtheleapintosmallcommercialcansomeHmesbe
inHmidaHng.
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ClientAcquisiHon• Longtermrela?onship
building,thelongview• Iden?fyingbenefits
beyondjustbuildingthesolararray.
• Walkthewalkwithhowyourcompanyacts.AtReVisionwehavebecomeacer?fiedB-Corp
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ProjectExample:MaineAudubon• Smallcommercialinstallconsis?ngof6trackers
• DifficultPermiang• Keytohaveanallywhomyoucangetexcitedabouttheprojectandhelppushthroughroadblocks
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Challenges• Geangbusinessestolookpasta3-4yearROI• Lackofincen?vesputsmoreemphasisonrela?onshipbuilding
• Geangbusinessestoseesolaraspartofbeingacontribu?ngmemberofthegrowingsustainablecommunity
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ScalableSolar• Movingintosmallcommercial
canbeanaturalgrowthopportunityforasmallercompany
• Installascalableproduct:somethingyouareusedtoinstallingbutjustinstallingmoreofonalargerscale.S?ckwithstringinvertersandjustdomoreofthem.
• Easiertomobilizeforsmallcommercialvslargecommercial/u?lityscale
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TipsforKeepingCostsinCheck• Forprojectsunder75kWorconnec?ngtocommercial
buildings,240Vor208Vservicescansaveinequipmentcosts.Forlargerprojects480/277V3-phaseservicesmakemoreeconomicsense.
• Preplan,haveaprojectmanagerandelectricianwalkthroughtheprojectandorderequipmentpriortothemobiliza?onoftheen?reteam,haveagoodlistoftaskstobedonesothatwhenroadblocksareencounteredinstallerscanbere-deployedontosomethingelseanddon’tgetleqstandingaround.
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WhyChooseAER• Veryscalablebothintermsofplanningforthecurrent
installandforplanningforfutureexpansion• Thetrackerisveryterrainadaptablewhereyoucandeal
withrollingfieldsandledgewhichmayprovechallengingtotradi?onalgroundmounts.
• Onepalletshippingmakesiteasybothtostoreandtodeployon-site
• Trackersarebothaesthe?callypleasingandexci?ngwhichmakethemagreatselltocustomerswhoaretyingtogetmarke?ngvalueinaddi?ontoelectricityproduc?onvalue.
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CommercialSolarProject
DevelopmentDougMacDonald,AllEarth
Renewables
#SolarWebinar
SmallCommercialProjectscanbeSimpleandminimizetheBalanceofSystemcosts.
• Upto75kWsinglephaseorupto250kWthreephaseprojectscaneasilybedesignedusinginexpensive200Aswitchinggearand320Aselfcontainedmetering.
• Trackerfarmsinthisscale,connectto(2)200Acombinerloadcenters,thenbackfeeda320Ametersocket.Polemountedtransformersaddtothesimplicityandcostsavings.
• Savesindevelopmentandconstruc?oncosts.
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BigbenefitstousingAllEarthSolarTrackersforcommercialprojects
• TrackerProjectsaremodularand
easilyscalable.• BecausetheDCdesignisprecooked
intothetracker,designingalargertrackerprojectisaseasyasdesigningaparkinglotligh?ngsystem.
• ACdesigncaneasilybedrawnupinonedaybyanymasterelectrician.
• InverterACcapacitydrivesthedesign.
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• Largerprojects=largerreturns–u?lizeeconomiesofscaleandefficientandrepeatabledevelopmentandpermiangprocesses
• StandardizingandstreamliningtheEPCanddevelopmentprocesswillfurtherincreasereturns.
• Documentstandardiza?oncri?calbothforfinanceabilityandcostsavings
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SiHngConsideraHons
• MinimizeShading• Digreadiness(trees/brush)
• Treeandbrushremovaliscostlyandhasmoreenvironmentalimpact.• Choseopensites.
• Interconnectproximity• Whendealingwithlongerwireruns,3phaseisalwaysbe;erthansinglephasefromboth
u?lityandprojectperspec?ves• Anyprojectover150kW,3phisrequired
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So\wareweuseatAER
• AutoCAD• UsedforElectricaldrawingsandSitelayoutdrawings• AutoCADMapsvsAutoCADLT–bothwork
• GoogleEARTHPro-Nowfreetogeneralpublic• Greattoolforini?alsiteinves?ga?on-helpfulforlandareacalcula?ons• KMLfiles–polygonsandpolylinesofusableprojectareas.• Goodforiden?fyingnaturalresources,wetlands,treecover,historicalimagery,Interconnec?onloca?on.Usestreetviewto
seepoles,threephasevssinglephase,etc.
• SolidWorks• Usedforstandardizedequipmentlayouts,pedestals,conduitlayouts
• ToolstoidenHfyandmodelshading:• SunEye• PVWa;s,SystemAdvisor,PVSyst• HeyWhat’sThat(heywhatsthat.com)
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EfficientInstalla?on• Seekrepeatableprocess
– ManageEPCprocess– Onecontractorcandoitall.– Followleanprinciples
Example:HelicalPileBaseSimplybaseinstalla?onInstall20-30basesperdaypermachine.
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CableInConduit– 3or4insulatedconductorspreinstalledinsideofHDPEconduit.– Handlingandinstalla?ongreatlysimplified– Withfewexcep?onsusesamewiresizesforALLinstalla?ons– Simpletransi?ontoabovegroundatbothtrackerandACcombinerpanel– Reelscomeat5000’andfitonastandardspooltrailer
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ElectricalOnelineExample,500kW3phase
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SitePlanExample,150kWWyman
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StateofVermont–500kWeach
ProjectNote:AfixedratePPAandbundledprojectsacrossnearly20stategovernmentu?lityaccountswillsavetaxpayersmorethan$2,500,000overtheini?altermwithnocostandnofinancialrisk.U?lizingvirtualnetmeteringpolicyforoff-siteprojectsi?ng.
StateGovernment:Correc?onalFacili?esandStateOfficesSizeofSystems:500kWDesireforSolar:Guaranteedbudgetsavings/InlinewithstateenergygoalsProjectStructure:20-YearPPAwith7-yearbuy-outop?onHowsecuredcustomeragreement:RFPandguaranteedsavingsoffered(fixedratePPAvs.floa?ng/indexedPPA)
#SolarWebinar
2.2MW,ClaireSolar
#SolarWebinar
Steven Bushong Editor - Moderator Solar Power World [email protected]
Josh Baston Project Supervisor Revision Energy [email protected]
Chris Fraga Founder & CEO SolarSense [email protected]
Small Commercial Solar: Growing Your Business with This Untapped Sector
Questions?
Doug MacDonald Project Engineer AllEarth Renewables [email protected]
#SolarWebinar
Thank You q This webinar will be available at
solarpowerworldonline.com & email
q Tweet with hashtag #SolarWebinar
q Connect with Solar Power World
q Discuss this on EngineeringExchange.com
#SolarWebinar