A Technical Solar Assessment (TSA) is a new form of due diligence Fannie Mae now requires for their multifamily Green Rewards Program. It is conducted to determine a property’s renewable energy potential and is documented in a Technical Solar Report. The report identifies a practical and achievable solar system design and specifications for a building using calculations and models that reasonably project consumption and cost reduction.
Beyond detailing the potential for solar, the TSA also provides the parties involved with a confirmation that the recommended system can be built. Through a thorough analysis of the local permitting process and communication with the local utility, the TSA reduces the potential for roadblocks during the development phase of the installation. Since the TSA is the last form of due diligence conducted prior to the closing of the loan, an analysis of the system’s feasibility is a critical part of the project.
The TSA is broken into three phases. Phase 1 consists of a review of the property’s utility account(s) and meters; kWh consumption and overall kW capacity; and the associated rates paid for generation, transmission, and distribution. During Phase 2, the Technical Solar Consultant conducts a site visit to the property to assess the potential for the solar PV system. Phase 3 incorporates all the information gathered in prior phases with structural and electrical engineering calculations, location specific historical weather data, specific solar system component selections, interconnection feasibility and permitting considerations which together provide a comprehensive renewable energy analysis.
The final analysis is submitted in the form of a Technical Solar Report which includes a financial analysis of the proposed project, technical specifications and configurations for the solar array, along with an energy generation simulation for the proposed design.
Currently, the TSA is eligible to be 100% reimbursed by Fannie Mae as long as (1) the proposed solar system is selected and implemented, (2) the loan closes as a Fannie Mae Green Rewards Mortgage Loan, and (3) the reimbursement submission deadlines are met.
Site Information and Existing Systems
Renewable Energy Project Overview
The report will also have exhibits that include items such as a photolog of the property, a site map with the location of the recommended system, energy generation calculations, a shading analysis, and an estimated output report.