Course Content
Tax Equity Essentials – Live stream instructor led course course
Check out our new short course for managers, executives, and dealmakers new to tax equity! Tax equity is one of the largest and most critical and sources of capital for U.S. renewable energy projects. It’s also perhaps the most complicated and challenging to raise. This course focuses on the most crucial aspects of tax equity: why it’s needed, how it works, and the keys to successfully executing tax equity transactions. Learn the ins-and-outs of running a tax equity capital raising process and understand what makes — or breaks — a transaction. Content is presented by Pivotal180 instructors alongside tax equity industry experts and advisors, including Norton Rose Fulbright, CRC-IB, Black & Veatch, and more!
Tax Equity Essentials
Pre-course Material
- Project Finance 101
- Introduction to US renewables tax credits
- Debt sizing fundamentals
Project Benefits: Depreciation, Tax Credits, and Cash
- Book vs. tax depreciation
- Taxable income
- Efficient vs. inefficient taxpayers and NOLs
- US tax credits
- Project level benefits of depreciation and tax
- Tax benefits case study
- Tax equity market overview and forecast
Introduction to Tax Equity and Back Leverage Concepts
- Tax equity rules, structures, and terms
- Partnership disproportionate allocations and flips
- Tax equity risk and returns
- Downside protections
- Introduction to back leverage
Inflation Reduction Act
- Key changes under the IRA
- Tax credit transferability
- Direct credit transfers without tax equity
- Emerging ‘hybrid’ tax equity + transfer structures
Tax Equity Process & Timeline
- Tax equity capital stack
- Tax equity investor universe
- Gaps in the market
- Detailed capital raise timeline and key considerations
Tax Equity Process Materials & Due Diligence
- Project teasers and CIMs
- Financial model walkthrough
- Best practices
- Data rooms,, Q&A, site visits
- Third party reports
- Insurance
- How to run a TE raise like a pro
Tax Equity Documentation & Negotiation
- What matters most in tax equity transactions
- Main negotiation points
- Detailed term sheet walkthrough
- ECCA and LLCA
- Sponsor guaranty
- Estoppels, certificates, legal opinion
- Live streaming
- Join virtually with other professionals in a small group environment to complete this course.
- Learn more about our live streaming training
- See our course schedule for upcoming course date
- Inhouse
- This course can be customized to address the unique challenges that your team or organization face.
- It can delivered via live streaming or in-person
- Learn more about our customized training
- Best suited to people with some experience in the sector and alumni of our Tax Equity Modeling course
- Managers, VPs, Directors, C-suite leaders, corporates, funds, investors, and developers needing to understand the complexity of US tax equity
- Perfect for new US renewables and tax credit market entrants
Why Trust Pivotal180 for Your Professional Development?
Pivotal180 is a global leader in teaching financial modeling and corporate finance. Unlike firms where training is a side business, we are exclusively focused on delivering world-class education. Our courses are led by senior practitioners with deep, practical transactional experience, not just theoretical knowledge. We have trained top advisors, developers, lenders, and funds worldwide, helping them master concepts like discounted cash flow (DCF) analysis, leveraged buyout models, and financial planning for business units.
Our training approach is uniquely tailored to your needs. We offer a blended learning solution, combining instructor-led training with 12 months of online access to our comprehensive materials, including lecture slides, DCF analysis tools, and downloadable spreadsheet models. This ensures continuous learning and support long after the course is completed.
Public Live Streaming Course involves 2 sessions
- Price of public course $500
Cancellation Policy for Public Courses
- 4 weeks before the course: Full Refund*
- 1-4 weeks before the course: 50% Refund
- <1 week before the course: No Refund
*Refund is less any merchant fees incurred on payment
Contact Us for On-Site Pricing and Options
- 12-Month Online Access: Continue to refine your skills with our resources and materials.
- Pivotal180 Communities: Join an active network of professionals for ongoing discussions and insights.
Basic Excel knowledge, a computer or laptop, and a power cord.