Solar Project Cost-Estimating & Pro Forma Development

September 29-30, 2021 | Online :: Central Time

0921-solar-cost-estimating

Throughout North America, solar project development is exploding.  It is now the largest single power generation resource by type and will continue on this trajectory for the indeterminate future.

To effectively utilize allocated and dedicated funding, it is critical for developers, sub-contractors, project managers, utilities, and suppliers to fully understand the components and practices that yield efficient and reliable solar project cost estimation.   

In this course, attendees will recognize the critical components to consider in developing budget and pro forma project estimates. Key components of the course include the salient factors that impact the cost of building “bankable” solar projects, including permitting and siting, materials and engineering, construction, and project management. 

Learning Outcomes  

• Discuss solar project planning process and budget considerations utilizing industry samples of typical projects
• Analyze engineering, component, EPC/construction and development costs
• Discuss the environmental and siting processes and the impact on schedules and costs
• Compare and contrast contracting methods to include design-bid-build vs. OE/EPCprojects
• Identify strategies to mitigate risks across the spectrum of project types and sizes

Wednesday, September 29, 2021 : Central Time

 

Session I: Key Concepts and Considerations in Determining “Bankability”

• Financial Metrics
  • Levelized cost of energy (LCOE)
  • Internal rates of return (IRRs) – unlevered and levered
  • Cost of goods sold
  • Simple fixed-charge rate (FCR)
  • Net present value (NPV)
  • Capex
  • Risk
  • Return on Capital
• Development Objective
  • PPA
  • TPO
  • BOT
• Financial Structure
  • Single Owner
  • Leveraged Partnership Flip
  • All Equity Partnership Flip
  • Sale Leaseback

Session II: Development Cost Estimation Process 

• Developing budget parameters and the project plan
• Utility estimate components
• Cost estimating best practices during the project life-cycle
• Cost reference development
• Risk management
• Expected accuracy ranges
• Measuring performance
• Project cost estimate example
• Industry Benchmarking Resources
• Cost estimating tools commonly used in the industry

Session III: Building a Budget

• Scope of project
  • Size
  • One-off vs fleet
  • DC or AC interconnection
  • Geography
  • Weather extremes
• Engineering studies

4:45 p.m. :: Course Adjourns for Day

 

Thursday, September 30, 2021 : Central Time

 

Session III (cont’d): Building a Budget

• Development costs
  • Land assembly and acquis’n
  • Soil stability, erosion design and foundations
  • Point of interconnection, sub-station, etc
  • Environmental studies and costs
  • Permitting, processing and regulatory
  • Engineering / EPC services and functions
  • Overhead and fee(s)
  • Installation labor
  • Capital costs
• Material and component costs
  • Modules
  • Inverters
  • Balance of system (BOS)
  • Racking/Tracking
• O&M cost assumptions
• Storage “adder”

Session IV:  Methods of Contracting 

• Identify common types of contracts and contract delivery methods and understand the risks and advantages and disadvantages associated with each
• Fixed price/lump sum
• Cost plus
• Time and material
• Traditional arrangement/design-bid-build
• EPC arrangements and risk management
• Open book EPC variations
• Impacts to construction process

12:00 p.m. :: Course Adjournment

Building a Cost-Estimate

Thursday, September 30, 2021 : Central Time

Overview 

This workshop is geared towards those who would like a further understanding of the cost-estimating process and experience a more in-depth teaching session after they attended the Cost-Estimating & Pro Forma Development course. Attendees will learn more of the guidelines for different types of estimating projects, as well as how to use these guides. Attendees will also be working with real-life examples so they can dig deeper into the process and gain a full understanding of cost estimating for solar projects.

Learning Outcomes  

• Calculate risk management parameters based on known project information
• Use different estimating tools currently available to the industry
• Participate in exercises to develop cost estimates at the beginning and throughout the project life-cycle  
• Discuss how to prepare cost estimates different types and sizes of solar projects and how to consider projects with hybrid or co-located storage

 

Requirements for Successful Completion of Program 

Participants must log in and be in attendance for the entirety of the workshop to be eligible for continuing education credit. 

Instructional Methods

PowerPoint presentations, interactive group exercise, and group discussion will be used during this course.  

Who Should Attend 

Project developers, utilities, EPCs and project managers, estimators, engineers, contract managers and appraisers who would like to get an advanced understanding of solar cost estimating in an “applied” setting.

 

Agenda

 

Review of Cost Estimating Principles

Types of Cost Estimates and How They Are Used

Cost Estimating Guidelines

• How to use the guides for different types of projects
• Application of contingency
• Expected accuracy range
• Confidence interval

Identification of Critical Project Elements

• Development
• Engineering/EPC
• Components
• Storage

Review of Cost Estimating Tools Commonly Used in the Industry

• Solar Advisory Model (SAM)
• PVSyst
• PVWatts
• NREL Annual Technology Baseline study

Class Exercise – Building a Cost Estimate from the Bottom Up

• From the beginning
• During operation

4:45 p.m. :: Workshop Adjournment

Instructors

Brett Pingree is the Director of Development for Soltage, a PV developer, owner, and operator of more than 50 solar projects and approximately 200 MW of generation capacity under management across eight states and has deployed more than $350 million into solar generation projects since 2006.  He is responsible for the New England PV market.  Mr. Pingree has 17 years of renewable energy market and project development, domestically and internationally.  Prior assignments have included as head of business development for Emergya Wind Technologies, as commercial vice president of Endurance Wind Power, as manager of energy management systems at Dynapower and as vice president of Americas for Northern Power Systems.

Kevin Magayah is vice president CS Energy, a division of Conti Solar.  His focus is on building and maintaining relationships with Conti’s solar EPC customers in the Northeast and Midwest regions of the US.  Mr. Magayah has more than a decade of experience in large-scale solar PV installations, as well as bridge and tunnel work for public and private-sector clients. He has developed, designed and installed some 500 MWs of solar photovoltaic systems over 50 projects. He performs and executes multiple tasks under demanding schedule constraints and has successfully completed projects through developing detailed work plans, scheduling and coordinating field activities, and tracking costs for maintaining proper funding and budgeting.

Brett Pingree is the Director of Development for Soltage, a PV developer, owner, and operator of more than 50 solar projects and approximately 200 MW of generation capacity under management across eight states and has deployed more than $350 million into solar generation projects since 2006.  He is responsible for the New England PV market.  Mr. Pingree has 17 years of renewable energy market and project development, domestically and internationally.  Prior assignments have included as head of business development for Emergya Wind Technologies, as commercial vice president of Endurance Wind Power, as manager of energy management systems at Dynapower and as vice president of Americas for Northern Power Systems.

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Kevin Magayah is vice president CS Energy, a division of Conti Solar.  His focus is on building and maintaining relationships with Conti’s solar EPC customers in the Northeast and Midwest regions of the US.  Mr. Magayah has more than a decade of experience in large-scale solar PV installations, as well as bridge and tunnel work for public and private-sector clients. He has developed, designed and installed some 500 MWs of solar photovoltaic systems over 50 projects. He performs and executes multiple tasks under demanding schedule constraints and has successfully completed projects through developing detailed work plans, scheduling and coordinating field activities, and tracking costs for maintaining proper funding and budgeting.

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James F. Duffy is a partner in the Boston office of the national law firm, Nixon Peabody LLP.  He serves as the Co-Chair of the firm’s Renewable Energy Tax Credit Team and concentrates his practice on structuring and closing transactions involving federal income tax credits and other significant federal and state income tax incentives, including Production Tax Credits and Investment Tax Credits for renewable energy.  His practice also covers New Markets Tax Credits.  He has represented numerous developers, investors, syndicators and lenders in structuring and closing renewable energy and other transactions.  He serves on the Board of Directors and is the Secretary of the Distributed Wind Energy Association (DWEA), as well as the Board of Directors of Windustry.  He is a graduate of the University of Rhode Island, B.A. and The Harvard Law School, J.D.

We will be using Microsoft Teams to facilitate your participation in the upcoming event. You do not need to have an existing Teams account in order to participate in the broadcast – the course will play in your browser and you will have the option of using a microphone to speak with the room and ask questions, or type any questions in via the chat window and our on-site representative will relay your question to the instructor.

• IMPORTANT NOTE: After November 30 you will not be able to join a Teams meeting using Internet Explorer 11. Microsoft recommends downloading and installing the Teams app if possible. You may also use the Edge browser or Chrome.
• You will receive a meeting invitation will include a link to join the meeting.
• Separate meeting invitations will be sent for the morning and afternoon sessions of the course.
  • You will need to join the appropriate meeting at the appropriate time.
• If you are using a microphone, please ensure that it is muted until such time as you need to ask a question.
• The remote meeting connection will be open approximately 30 minutes before the start of the course. We encourage you to connect as early as possible in case you experience any unforeseen problems.

REGISTER NOW FOR THIS EVENT:

Solar Project Cost-Estimating & Pro Forma Development

September 29-30, 2021 | Online

Buy 4 in-person seats and only pay for 3! For this event every fourth in-person attendee is free!

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RELATED WORKSHOPS:

Building a Cost-Estimate

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Your registration may be transferred to a member of your organization up to 24 hours in advance of the event. Cancellations must be received on or before August 20, 2021 in order to be refunded and will be subject to a US $195.00 processing fee per registrant. No refunds will be made after this date. Cancellations received after this date will create a credit of the tuition (less processing fee) good toward any other EUCI event. This credit will be good for six months from the cancellation date. In the event of non-attendance, all registration fees will be forfeited. In case of conference cancellation, EUCIs liability is limited to refund of the event registration fee only. For more information regarding administrative policies, such as complaints and refunds, please contact our offices at 303-770-8800

Credits

EUCI is accredited by the International Accreditors for Continuing Education and Training (IACET) and offers IACET CEUs for its learning events that comply with the ANSI/IACET Continuing Education and Training Standard. IACET is recognized internationally as a standard development organization and accrediting body that promotes quality of continuing education and training.

EUCI is authorized by IACET to offer 1.0 CEUs for this course and 0.4 CEUs for the workshop.

Requirements for Successful Completion of Program 

Participants must log in each day and be in attendance for the entirety of the course to be eligible for continuing education credit. 

Instructional Methods

PowerPoint presentations, interactive group exercise, and group discussion will be used during this course. 

Upon successful completion of this event, program participants interested in receiving CPE credits will receive a certificate of completion.

Course CPE Credits: 12.0
There is no prerequisite for this Course.
Program field of study: Specialized Knowledge
Program Level: Basic
Delivery Methood: Group-Live
Advanced Preperation: None

EUCI is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org

 

 

Who Should Attend 

• Solar development and renewal energy project managers, estimators, and contract managers
• EPCs
• Solar engineers 
• Supply chain and cost accounting professionals for utilities, corporate off-takers and other energy contracting organizations
• Generation project developers and engineers who need an understanding of solar plant components and costs
• Appraisers and cost segregation specialists
• Investors and financial advisors
• Regulatory agency staff
• Consultants and engineering firms that work within the solar development sector