WASHINGTON, D.C. – July 15, 2015 – (RealEstateRama) — As a tool for investors, financiers, project developers and others, the Solar Energy Industries Association (SEIA) and CohnReznick, a leading national accounting, tax and advisory firm, today released a guide to the valuation of solar projects for financial reporting purposes. The publication features best practices in “an increasingly complex solar marketplace” and follows up on a 2014 publication by the two organizations on fair market value methodologies in the solar industry.
“This white paper provides all members of the solar industry with an overview of best practices in purchase price allocations for the acquisition of typical solar energy systems,” explained Don Nimey, Partner for CohnReznick’s Valuation Advisory Services Group. “Proper purchase price allocation reporting is fundamental to recording the intangible and tangible assets on the balance sheet of the acquirer.”
As the fastest growing energy sector in the United States, the solar industry continues to rapidly evolve, and industry participants are increasingly involved in mergers and acquisitions. These transactions often create complexities for financial reporting purposes and present the need for greater education around proper valuation of acquired solar projects, according to SEIA and CohnReznick.
“Our goal is to provide the solar industry with the best and most up-to-date information possible on important topics,” said Rhone Resch, SEIA president & CEO. “As solar deals grow more sophisticated, SEIA and its member companies are here to help untangle some of the financial mysteries.”
“As the industry’s M&A activity continues to increase so rapidly, it is paramount that investors and all parties in a transaction understand how to properly account for these acquisitions and the impact on their financial statements. We are pleased to work with SEIA and our fellow membership base to provide guidance on sound valuation reporting,” said Anton Cohen, Co-National Director of CohnReznick’s Renewable Energy Practice, and SEIA Board Member.
For more information and to download a copy of the guide, visithttp://www.seia.org/research-resources/purchase-price-allocations-solar-energy-systems-financial-reporting-purposes.
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About SEIA®:
Celebrating its 41st anniversary in 2015, the Solar Energy Industries Association® is the national trade association of the U.S. solar energy industry. Through advocacy and education, SEIA® is building a strong solar industry to power America. As the voice of the industry, SEIA works with its 1,000 member companies to champion the use of clean, affordable solar in America by expanding markets, removing market barriers, strengthening the industry and educating the public on the benefits of solar energy. Visit SEIA online atwww.seia.org.
About CohnReznick:
CohnReznick LLP is one of the top accounting, tax, and advisory firms in the United States, combining the resources and technical expertise of a national firm with the hands-on, entrepreneurial approach that today’s dynamic business environment demands. Headquartered in New York, NY, and with offices nationwide, CohnReznick serves a large number of diverse industries and offers specialized services for middle market and Fortune 1000 companies, private equity and financial services firms, government contractors, government agencies, and not-for-profit organizations. The Firm, with origins dating back to 1919, has more than 2,700 employees including nearly 300 partners and is a member of Nexia International, a global network of independent accountancy, tax, and business advisors.
The Firm’s Renewable Energy Industry Practice helps clients navigate the industry’s nuanced business, regulatory, and financial issues. The Practice’s integrated service platform includes assurance and attestation, technical accounting consulting, tax and advisory structuring, and advisory (IPO readiness, YieldCo, valuation, transactional, capital markets) services. The team includes more than 40 highly experienced professionals with deep industry credentials.
For more information on CohnReznick, visit www.cohnreznick.com and to learn more about our Renewable Energy Industry Practice, visit www.cohnreznick.com/industries/re.
Media Contacts:
Ken Johnson, SEIA Vice President of Communications, ">
Alex Hobson, SEIA Press Officer & Communications Manager, ">
Julie Murawski, CohnReznick Corporate Marketing Director,">
