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Energy retail and services

Solar installer financial model, built free.

A three-statement Excel model for a solar and battery installer, built from your own figures and checked to balance.

  • Free account
  • No card
  • Usually ready within the hour

We use generative AI in parts of our process, so mistakes can occur. Every model should be checked by a person before it is relied on. Read more

The business

Sells and installs rooftop solar, batteries and EV chargers for households and businesses, earning a margin per system after equipment and installation labour, with rebates or certificates often claimed at the point of sale.

See the sampleHow the model works

In short

  • 01

    Three linked statements

    Income statement, balance sheet and cash flow, linked in every period.

  • 02

    Valued two ways

    Discounted cash flow and trading multiples, side by side.

  • 03

    Monthly to annual

    Monthly, quarterly, half-yearly or annual periods, for up to 30 years.

  • 04

    Checked every period

    A Checks sheet shows the balance sheet balances and the cash reconciles.

The sample

The sample, as Excel draws it.

Built by the same system and checks as yours: its structure and its inputs, ready for your own figures.

Annual · 10 years · Low detail
Solar installer sample model.xlsx
The How It Works sheet of the sample solar installer model

The sample describes no real business. Yours is calibrated to your own figures, so its results are your business’s.

How it works

How the model works for a solar installer.

  1. How it earns revenue2 formulas
    System sales and installations · The business
    System sales revenueResidential solar salesCommercial solar salesBattery sales
    System sales and installations · The business
    Systems installedResidential solar systems installedCommercial solar systems installedBattery systems installed
  2. What drives its costs3 formulas
    Direct costs (top-down) · The business
    Cost of salesRevenuefrom statementsGross margin
    Operating expenses · The business
    Total FTEsOperations and deliverySales and marketingTechnologyFinance, HR and administration
    Operating expenses · The business
    Total average FTEsOperations and deliverySales and marketingTechnologyFinance, HR and administration
  3. What it invests in3 formulas
    Corporate fixed assets
    Capital expenditureRevenuefrom statementsCapex as % of revenueAdditional planned capex
    Corporate fixed assets
    DepreciationDepreciation of the opening asset baseDepreciation of new capex
    Corporate fixed assets
    Closing net book valueOpening net book valueCapital expenditureDepreciation
  4. How it is funded3 formulas
    Debt
    RepaymentsScheduled repaymentsPrepayments from an equity raise and the cash sweep
    Debt
    Closing balanceOpening balanceDrawdownsRepayments
    Debt
    Interest expenseOpening balanceAll-in interest rateshare of the year
  5. How profit becomes cash3 formulas
    Working capital
    Trade receivablesRevenuefrom statementsDebtor daysDays in period
    Working capital
    InventoryDirect costs (positive)from statementsInventory daysDays in period
    Working capital
    Trade payablesCash operating costs (positive)from statementsCreditor daysDays in period
What it covers

13 parts, each one tested.

Every part is a tested building block with its own checks: yours is put together from the ones your business needs.

  • CPI forecastConsensus curve with long-run anchor
  • Direct costs (top-down)Gross margin %
  • Operating expensesHeadcount build by function
  • Corporate costsFixed cost base indexed to CPI
  • Working capitalFull working capital
  • Income taxCorporate rate with tax losses
  • Corporate fixed assetsStraight-line over remaining life
  • DebtAmortising term loan
  • Discounted cash flow valuationDCF on free cash flow to the firm
  • Multiples valuationEV / EBITDA multiple
  • System sales and installationsSystems × average priceSolar, battery and charger systems sold and installed, and the rebate certificates claimed on them.
  • Key-metric summaryLast-twelve-month and run-rate metrics
  • Discount rate (WACC)CAPM at target gearing
Key numbers

The numbers it tracks.

  1. 01systems installed
  2. 02average kW per system
  3. 03price per watt
  4. 04gross margin per system
  5. 05certificate receivables
  6. 06EBITDA margin
Used for

What it is used for.

Also used for
  • Scenarios and sensitivities
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Every energy and utilities model

Looking for a solar installer financial model template? Ours arrives built for your business, with your figures in it.

See a finished model, sheet by sheet

The sample is built on illustrative figures and describes no real business. Models are calculations prepared from the information you provide. They are not financial advice and must be independently verified. See our terms.