What does “shovel ready” mean?

turning-sunlight-into-income-shovel-readyAs we​ ​​fund​​ ​and deploy our pipeline of Solar PV projects, we consistently refer to these projects as “shovel ready.”​ ​Th​is​​ term, however, has been overused and/or misused by developers whom often miss a few important details before their projects should be called shovel ready. Only projects that ​meet​ all of the criteria below get approved for one of our project portfolios​:​
  • Site Control​ Obtained​
  • System Design Completed and Verified
  • Land Use​ Permits​ in Place
  • Zoning ​Permits​ Obtained​
  • Soil ​T​est​s Completed​
  • Erosion ​C​ontrol ​T​est​ Completed​
  • P​ower Purchase Agreement (PPA) Executed​
  • Interconnection ​A​greement​ Executed​
  • Federal and State ​R​egulatory ​A​pprovals ​Obtained​
  • Taxes ​I​nvestigated​ and Defined​ ​(Upfront & Through Project Life) ​
  • Legal ​Work ​Complete​d
  • ​Environmental Impact Study Completed
  • ​EPC Contract in Place​
If a project does not meet these requirements, at least for us, it’s not shovel ready.