Underwriting 1 - Overview

Underwriting 1 - Overview

HDM Operations Overview


View this video or read the lesson below:



What HDM Offers

HDM offers a Prepaid PPA.
These are the results of the agreement:




Before HDM will fund their portion, the project must go through the underwriting process described here.

When a customer chooses an HDM Prepaid, they electronically sign an HDM PPA prepared by your sales team.
When that signed agreement enters the system, you can start the HDM underwriting process.


The HDM Underwriting Portal

The signed customer will appear in your HDM Underwriting Portal.
  1. The Deal Name is the name and street number.
  2. The stage will be ‘NTP’
You’ll submit required docs directly to the portal during each stage



Bifurcated Deals
The solar and storage will be managed as two separate projects, with two separate timelines in the portal.
Each project will have its own docs submitted independently of the other





Three Stages in the HDM Underwriting Process







NTP: Notice to Proceed

The NTP milestone provides all the details for the upcoming project.

HDM will review the docs and the agreement to confirm that all the information matches


Required Docs
Installer uploads the following
  1. Utility Bill
  2. NEM (interconnection agreement)
  3. 2D (CAD) System drawings w/BOM including model#'s
  4. Confirmation call email





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Statement of Work

HDM then issues a Statement of Work.
  1. This is the contract between the installer and HDM.
  2. The installer signs the SOW
  3. This completes the NTP stage


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Signing Deadline:
Please keep in mind, as you’re working towards the M1 milestone...

The final PPA agreement for the project must be signed before the final building inspection.
This is the signing deadline for a job to be eligible for funding





M1
At M1 you show that the physical installation of the system is complete.

Installer uploads these required docs:
  1. COR (close out report): installation photos
  2. Signed Job Card or Finaled Permit
  3. Material Invoice (Domestic Content jobs)




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After docs are approved

HDM sends two docs:
  1. Invoice listing the amounts to be covered by HDM and to be covered by the customer
  2. M1 Statement describing the completed steps


In-Service Form

HDM generates this document after an investor purchases the deal and releases funds to HDM.
This directs the installer to place the system into service.




M2

You show HDM the system is producing as expected.

Installer submits the following
  1. Access to system monitoring
  2. PTO from utility



After M2 is approved an M2 statement is signed by the installer and countersigned by HDM.

Then HDM funds 17-30% to the installer.

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