Quality of Earnings and CFO services for solar installers
2025 was not a normal year for residential solar. We separate pull-forward revenue from run-rate, test financing partner exposure, and give lenders and buyers earnings that hold up after the credit ended.
Talk about a deal Talk about the businessReply within one business day · Fixed fee in writing · No obligation
A market resetting after the residential credit ended
- The Section 25D homeowner credit ended after December 31, 2025; the 48E credit for leases and PPAs continues for systems placed in service before 2028. Source
- Residential installs are expected to fall about 20% in 2026, and several large installers have restructured. Source
- Customer acquisition costs are projected to rise about 40% in 2026. Source
- Since October 1, 2026, SBA 7(a) acquisitions of $3 million or more need an independent Quality of Earnings, and lenders size the loan on its normalized earnings. The rule explained →
We work with lenders and buyers in Utah, Denver, Phoenix, Dallas-Fort Worth, Boise, Las Vegas, and nationwide.
CAC per wattInstalled kW and backlogFinancing partner concentrationGross margin per wattCancellation rateDays to milestone payment
Trailing twelve months that include the 2025 rush overstate what an installer earns today.
What buyers and lenders test in a solar installer QoE
Pull-forward revenue
2025 installs driven by the credit deadline separated from repeatable run-rate.
Financing partners
Dependence on lenders and third-party-ownership partners, dealer fees, and exposure to failed financiers.
Customer acquisition cost
Sales commissions, lead costs, and clawbacks per watt installed.
Warranty obligations
Workmanship warranty claims and the reserve a buyer inherits.
Receivables and milestones
Milestone payments owed by financiers and their collectability.
Commercial vs. residential
Different margins, contract terms, and credit exposure.
Solar QoE: what's included
- Run-rate vs. pull-forward revenue analysis
- Job-level income testing
- Financing partner concentration and receivable testing
- Commission and clawback review
- Warranty claims review
Solar add-ons
| Each additional legal entity | $2,500 |
| Inventory testing (counts, costing, reserves) | $5,000 |
Fees by deal size
| Purchase price / EV | QoE fee |
|---|---|
| Under $3M | $11,500 (sell-side $9,000) |
| $3M to $4M | $12,500 |
| $4M to $5M | $14,500 |
| $5M to $10M | $19,500 |
| $10M to $15M | from $26,500 |
| Lower middle market & PE add-ons | typically $25,000 to $70,000 |
Larger deals are quoted from revenue, entities, inventory, and report format. Pre-LOI earnings screen $1,950. All fees →
Before an LOI, run the seller's numbers through our free add-back sanity check. Terms like SDE, cash proof, and DSCR are explained in the QoE glossary.
Where solar owners are under pressure
- Cash tied up waiting on financier milestone payments
- Commission clawbacks after cancellations
- Fixed overhead sized for 2025 volume
- Lenders asking for forecasts the business can't produce
Priced for your industry
Right now, solar installers need cash visibility and a plan more than anything else.
Start with a $2,500 finance diagnostic, credited to your first month. Interim CFO or controller coverage is also available, part time from $10,500/mo or full time.
Books & close
- Monthly bookkeeping and reconciliations
- Accrual close by business day 10
- Monthly financial package
- Quarterly review call
Controller
- Everything in Books & close
- KPI dashboard for your industry
- Payroll, AP, and sales tax oversight
- Quarterly 13-week cash forecast
- Monthly review call
CFO
- Everything in Controller
- 13-week cash forecast
- Restructuring and cost plan
- Lender and covenant reporting
- Job-level margin and CAC tracking
- Monthly CFO meeting
Fixed monthly fees, month to month after three months. Day-to-day bookkeeping may be done by trained staff working to our checklists, always with CPA review and sign-off by Edwin van Stam. Talk about the right package →
Solar engagements Edwin has led
- QoE on a solar installer for a lender-financed acquisition, including job-level income and customer payment testing
- Earnings and financial analysis for a combined roofing and solar contractor
Includes engagements Edwin performed with prior and affiliated firms. Client names are confidential.
Solar questions
Does an SBA loan for this kind of acquisition need a QoE?
Under SBA SOP 50 10 8.1, a 7(a) change-of-ownership loan with a business purchase price of $3 million or more needs a Quality of Earnings, and the lender sizes the loan on the QoE's normalized earnings. Below $3 million many lenders still ask for one. Check your deal →
How do you handle 2025 revenue in a solar QoE?
We show it, then separate what was driven by the 25D deadline from what the business can repeat under current incentives and financing, so the price reflects today's business.
Is it a good time to buy a solar installer?
That's a business decision, but the diligence questions are clear: financing partner exposure, run-rate volume, acquisition cost, and warranty obligations. A QoE answers them with data.
Buying, financing, or running a solar company?
Buying, financing, or selling? Start with a QoE conversation. Running the business? Start with a finance diagnostic.