Professional Development Program

Residential and Commercial Valuation of Solar

The number of solar photovoltaic (PV) system installations continues to increase as the price becomes more feasiblein many markets. Appraisers will find the valuation a challenge without knowledge of the technology and data available to use the most appropriate methodology. Appraisers must expand their knowledge base to understand howelectricity and solar PV is priced, and to understand how solar PV systems function to develop a credible value. If you are seeking education that will hone your skills or teach you new ones, this is the course for you. Residential and commercial appraisers will work together to apply an income capitalization approach and cost approach to valuing energy produced for solar PV systems. All you need is a tablet or iPad, with Internet access, and you will use free online software to value the energy that solar systems produce.

This is an advanced course that requires the use of a discounted cash flow analysis.Because of its difficulty, double AI CE points are awarded.

Important Course Requirements: This course uses free, third-party software known as PV Value or Ei Value to complete the case studies.The software has been vetted by the Appraisal Institute, but course participants should have knowledge of the discounted cash flow analysis.The case studies emulate appraisal problems that appraisers face every day.For educational purposes only, the case study provides a discount rate to use in this course.Appraisers must analyze and conclude the appropriate discount rate for their market, which will change based on the local market's view of solar and changes in kWh prices, solar production, and cost new.

Please note.

Thiscourse does not address utility-scale solar (solar farms), solar thermal, orother on-site renewable energy generation.

Note.

This course is in theValuation of Sustainable Buildings

Professional Development Program. View this list of FAQs , which includes information regarding the courses you'll need to complete the program successfully.

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Who Should Enroll

Real property appraisers
Assessors
Builders
Quality control personnel
Architects
AI CE Points

Attend:
150
pts
Attend & Pass Exam:
200
pts
State Approvals

State
QE/CE
Course & Exam
Course Only
Exam Only
Delivery Format
Approval Format
Start Date
State Code
AK

CE

14

14

Classroom

Classroom

07/01/2023

04/17/2026

19401
AK

CE

15

14

1

Classroom

Classroom

10/12/2022

10/12/2025

19021
AK

CE

15

14

1

Classroom

Classroom

07/01/2023

04/17/2026

19401
AK

CE

14

14

Classroom

Classroom

10/12/2022

10/12/2025

19021
AL

CE

14

14

Classroom

Classroom

10/01/2022

09/30/2024

C02636
AR

CE

15

14

1

Classroom

Classroom

10/19/2020

09/07/2025
AZ

CE

15

14

1

Classroom

Classroom

11/02/2023

********
CA

CE

14

14

Classroom

Classroom

10/20/2020

10/19/2024

16CP********
CO

CE

15

14

1

Classroom

Classroom

09/22/2022

07/26/2025

2257
CO

CE

14

14

Classroom

Classroom

09/22/2022

07/26/2025

2257
CT

CE

14

14

Classroom

Classroom

03/10/2022

03/10/2025

AAL.000914
DC

CE

15

14

1

Classroom

Classroom

03/01/2020

02/28/2024

4057
DC

CE

14

14

Classroom

Classroom

03/01/2020

02/28/2024

4057
DE

CE

15

14

1

Classroom

Classroom

11/01/2023

10/31/2025
FL

CE

14

14

Classroom

Classroom

02/06/2023

02/05/2025

0009651
GA

CE

14

14

Classroom

Classroom

11/02/2012

67273
GA

CE

15

14

1

Classroom

Classroom

11/01/2012

67274
HI

CE

15

14

1

Classroom

Classroom

01/01/2024

12/31/2024

23-480
HI

CE

14

14

Classroom

Classroom

01/01/2024

12/31/2024

23-480
IA

CE

14

14

Classroom

Classroom

11/25/2022

11/24/2024

A518-1126
IA

CE

14

14

Classroom

Classroom

11/25/2022

11/24/2024

A518-1126
IA

CE

15

14

1

Classroom

Classroom

11/25/2022

11/24/2024

A518-1127
IA

CE

15

14

1

Classroom

Classroom

11/25/2022

11/24/2024

A518-1127
ID

CE

15

14

1

Classroom

Classroom

11/21/2020

07/26/2025
IL

CE

14

14

Classroom

Classroom

01/01/2023

12/31/2024

575.010085
IN

CE

15

14

1

Classroom

Classroom

07/05/2023
KS

CE

14

14

Classroom

Classroom

01/01/2024

12/31/2024

225.C24.R
KY

CE

14

14

Classroom

Classroom

07/01/2023

06/30/2024
KY

CE

15

14

1

Classroom

Classroom

07/01/2023

06/30/2024
LA

CE

15

14

1

Classroom

Classroom

01/01/2020

09/27/2026
MA

CE

14

14

Classroom

Classroom

10/21/2022

10/20/2024

85
MD

CE

15

14

1

Classroom

Classroom
ME

CE

15

14

1

Classroom

Classroom

09/26/2023

5C013
MN

CE

15

14

1

Classroom

Classroom

11/01/2022

10/31/2024

1021780
MN

CE

14

14

Classroom

Classroom

11/01/2022

10/31/2024

1021779
MO

CE

14

14

Classroom

Classroom

05/18/2022

06/30/2024
MS

CE

15

14

1

Classroom

Classroom

10/23/2022

08/25/2024

MAB #49905
MT

CE

15

14

1

Classroom

Classroom

07/10/2022

05/23/2025

REA-CEC-REC-15401
NC

CE

14

14

Classroom

Classroom

01/01/2024

12/31/2024

4095
ND

CE

15

14

1

Classroom

Classroom

03/08/2022

03/08/2026

CE-222028
NE

CE

14

14

Classroom

Classroom

10/19/2021

10/18/2026

2161427.02
NH

CE

14

14

Classroom

Classroom

11/02/2022

11/18/2025
NH

CE

14

14

Classroom

Classroom

12/15/2022

11/18/2025
NH

CE

15

14

1

Classroom

Classroom

09/28/2023

09/05/2026
NJ

CE

15

14

1

Classroom

Classroom

09/29/2016

********
NM

CE

15

14

1

Classroom

Classroom

07/19/2023

05/26/2026

4270
NM

CE

14

14

Classroom

Classroom

07/19/2023

05/26/2026

4270
NV

CE

15

14

1

Classroom

Classroom

06/01/2020

08/30/2024

CE.0009777-A
OH

CE

14

14

Classroom

Classroom

01/01/2024

12/31/2024

******** A 22
OK

CE

14

14

Classroom

Classroom

11/07/2023

09/29/2026

838
OK

CE

15

14

1

Classroom

Classroom

11/07/2023

09/29/2026

834
OR

CE

15

14

1

Classroom

Classroom

06/01/2022

06/01/2025

APIN-C-********
PA

CE

15

14

1

Classroom

Classroom

07/01/2022

07/01/2025
PR

CE

15

14

1

Classroom

Classroom

12/04/2023
RI

CE

15

14

1

Classroom

Classroom

09/28/2023

09/06/2024

REA.0002064-CE
SC

CE

14

14

Classroom

Classroom

09/01/2022

08/31/2024

CE1505
SD

CE

15

14

1

Classroom

Classroom

09/04/2022

08/09/2026

SD 1596 CE
TN

CE

14

14

Classroom

Classroom

12/01/2022

11/30/2024

01962
TX

CE

15

14

1

Classroom

Classroom

11/01/2023

09/27/2025

TX Provider #:10 Course #: 37934
UT

CE

15

14

1

Classroom

Classroom

02/01/2021

08/31/2025

AC230821
UT

CE

14

14

Classroom

Classroom

02/01/2021

08/31/2025

AC230819
VA

CE

15

14

1

Classroom

Classroom

08/08/2023

08/31/2025
VT

CE

14

14

Classroom

Classroom

05/01/2021

03/09/2025
VT

CE

15

14

1

Classroom

Classroom

05/01/2021

03/09/2025
WA

CE

15

14

1

Classroom

Classroom

09/29/2022

07/21/2025

A3730
WI

CE

15

14

1

Classroom

Classroom
WV

CE

14

14

Classroom

Classroom

03/24/2023

03/22/2026
WV

CE

15

14

1

Classroom

Classroom

03/24/2023

03/22/2026
WY

CE

14

14

Classroom

Classroom

09/28/2023

09/27/2026
Course Objectives

Identify and use the documents and data necessary to value solar PV systems.
Describe and analyze solar PV components and identify their relevance to market valuation.
Develop a credible value opinion using tools, worksheets, and resources provided in the course.
Recognize potential valuation problems, including USPAP and lender/underwriter concerns.
For Classroom:

After you register for this class, please go to your Education and Events page for details on what you must complete

BEFORE

class begins.

To access your Education and Events page, log on to the Appraisal Institute website at

https://ai.appraisalinstitute.org/eweb

(click on the three horizontal lines to the left of the AI logo and select "My AI Account" from the drop-down menu).
Equipment:

A financial calculator is required.

The accepted model used in the program is the HP-12C. AI education programs that require a financial calculator are developed with HP-12C keystrokes; using this model is highly recommended.
You must be familiar with calculator operation when the program begins. Do not enroll expecting to be taught how to use a financial calculator.

This course uses free, third-party software known as PV Value or Ei Value.

PV Value requires registration to use the program. Be aware it can take up to 24 hours after registering to receive an email with the login information. Once you sign on to this site, directions are provided for downloading the PV Value tool.
Alternative to using a third-party software in the course.

Proficient users of Excel may design a discounted cash flow analysis to work each assignment as an alternative to using PV Value. The Appraisal Institute does

NOT

provide an Excel discounted cash flow analysis.
If you choose to download course materials, it is best to bring a printed hard copy to class since it is difficult to change computer screens to find the data needed for using the software in solving the case studies.

This course is approved for 15 GBCI CE Hours by the USGBC.
You will be asked to clear the calculator's memory before and after the examination. Only one calculator is permitted in the testing room. Examinees taking most AI exams may bring their own calculator to use during the exam. Laptops, cellular phones, tablets, iPads, wearable technology (smart watch, Apple Watch, Google Glass, etc.), and other devices that can store data or connect to the Internet are NOT permitted during the exam. In addition, all watches, wallets, bags, and purses must be removed and stored out of reach prior to taking the exam.
During this program, we will use the income capitalization approach through a DCF of the energy produced by the solar PV system. The software is free, has been vetted by appraisers, and is easy to use.
Note. The software is not the only tool available to develop a DCF. Appraisers with good Excel skills may have their own DCF that meets their needs.
Register for a free Ei Value

account to download the iPad app from the iTunes Store for tablet use. You will use this software to work on the case studies in this program.
Though dated, the original PV Value

user manual provides excellent information on the authors, the model, and the source of information.
This online tool from Solmetric can help establish an estimate of the azimuth when one is not available on site. Ei Value will allow you to estimate the azimuth also. PV Value does not have this capacity.
An Introduction to Valuing Commercial Green Buildings

seminar OR
Valuation of Green Residential Properties

seminar
This is a secure building so you will need to show an ID to get in the building.

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