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                                                                    EXHIBIT 10.3

THIS WARRANT AND THE SHARES OF COMMON STOCK ISSUABLE UPON EXERCISE HEREOF HAVE
NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
"SECURITIES ACT") OR ANY STATE SECURITIES LAWS AND MAY NOT BE SOLD, TRANSFERRED
OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES ACT AND UNDER
APPLICABLE STATE SECURITIES LAWS OR SATCON TECHNOLOGY CORPORATION SHALL HAVE
RECEIVED AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO SATCON TECHNOLOGY
CORPORATION THAT REGISTRATION OF SUCH SECURITIES UNDER THE SECURITIES ACT AND
UNDER THE PROVISIONS OF APPLICABLE STATE SECURITIES LAWS IS NOT REQUIRED.

                          SERIES A WARRANT TO PURCHASE

                             SHARES OF COMMON STOCK

                                       OF

                          SATCON TECHNOLOGY CORPORATION

                            Expires February 18, 2003

No.: W-A-03-__                                       Number of Shares: _________
Date of Issuance: February 18, 2003


     FOR VALUE RECEIVED, subject to the provisions hereinafter set forth, the
undersigned, SatCon Technology Corporation, a Delaware corporation (together
with its successors and assigns, the "ISSUER"), hereby certifies that
_______________________________ or its registered assigns is entitled to
subscribe for and purchase, during the Term (as hereinafter defined), up to
____________________________________ (_____________) shares (subject to
adjustment as hereinafter provided) of the duly authorized, validly issued,
fully paid and non-assessable Common Stock of the Issuer, at an exercise price
per share equal to the Warrant Price then in effect, subject, however, to the
provisions and upon the terms and conditions hereinafter set forth. Capitalized
terms used in this Warrant and not otherwise defined herein shall have the
respective meanings specified in Section 8 hereof.

     1.   TERM. The right to subscribe for and purchase shares of Warrant Stock
represented hereby shall commence on February 18, 2003 and shall expire at 5:00
p.m., eastern time, on February 19, 2003 (such period being the "TERM").

     2.   METHOD OF EXERCISE PAYMENT; ISSUANCE OF NEW WARRANT; TRANSFER AND
EXCHANGE.

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     (a)  TIME OF EXERCISE. The purchase rights represented by this Warrant may
be exercised in whole or in part during the Term commencing on February 18, 2003
and expiring on February 19, 2003.

     (b)  METHOD OF EXERCISE. The Holder hereof may exercise this Warrant, in
whole or in part, by the surrender of this Warrant (with the exercise form
attached hereto duly executed) at the principal office of the Issuer, and by the
payment to the Issuer of an amount of consideration therefor equal to the
Warrant Price in effect on the date of such exercise multiplied by the number of
shares of Warrant Stock with respect to which this Warrant is then being
exercised, payable at such Holder's election (i) by certified or official bank
check or by wire transfer to an account designated by the Issuer, (ii) by
"cashless exercise" in accordance with the provisions of subsection (c) of this
Section 2, but only when a registration statement under the Securities Act
qualifying a public offering of the Warrant Stock is not then in effect, or
(iii) by a combination of the foregoing methods of payment selected by the
Holder of this Warrant.

     (c)  CASHLESS EXERCISE. Notwithstanding any provisions herein to the
contrary, if (i) the Per Share Market Value of one share of Common Stock is
greater than the Warrant Price (at the date of calculation as set forth below)
and (ii) a registration statement under the Securities Act qualifying a public
offering of the Warrant Stock is not then in effect, in lieu of exercising this
Warrant by payment of cash, the Holder may exercise this Warrant by a cashless
exercise and shall receive the number of shares of Common Stock equal to an
amount (as determined below) by surrender of this Warrant at the principal
office of the Issuer together with the properly endorsed Notice of Exercise in
which event the Issuer shall issue to the Holder a number of shares of Common
Stock computed using the following formula:

          X = Y - (A)(Y)
                  ------
                    B

Where     X =     the number of shares of Common Stock to be issued to the
                  Holder.

          Y =     the number of shares of Common Stock purchasable upon exercise
                  of all of the Warrant or, if only a portion of the Warrant is
                  being exercised, the portion of the Warrant being exercised.

          A =     the Warrant Price.

          B =     the Per Share Market Value of one share of Common Stock.

     (d)  ISSUANCE OF STOCK CERTIFICATES. In the event of any exercise of the
rights represented by this Warrant in accordance with and subject to the terms
and conditions hereof, (i) certificates for the shares of Warrant Stock so
purchased shall be dated the date of such exercise and delivered to the Holder
hereof within a reasonable time, not exceeding three (3) Trading Days after such
exercise or, at the request of the Holder (provided that a registration
statement under the Securities Act qualifying a public offering of the Warrant
Stock is then in effect), issued and delivered to the Depository Trust Company
("DTC") account on the Holder's behalf

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via the Deposit Withdrawal Agent Commission System ("DWAC") within a reasonable
time, not exceeding three (3) Trading Days after such exercise, and the Holder
hereof shall be deemed for all purposes to be the holder of the shares of
Warrant Stock so purchased as of the date of such exercise and (ii) unless this
Warrant has expired, a new Warrant representing the number of shares of Warrant
Stock, if any, with respect to which this Warrant shall not then have been
exercised (less any amount thereof which shall have been canceled in payment or
partial payment of the Warrant Price as hereinabove provided) shall also be
issued to the Holder hereof at the Issuer's expense within such time.

     (e)  TRANSFERABILITY OF WARRANT. Subject to Section 2(g), this Warrant may
be transferred by a Holder without the consent of the Issuer. If transferred
pursuant to this paragraph and subject to the provisions of subsection (g) of
this Section 2, this Warrant may be transferred on the books of the Issuer by
the Holder hereof in person or by duly authorized attorney, upon surrender of
this Warrant at the principal office of the Issuer, properly endorsed (by the
Holder executing an assignment in the form attached hereto) and upon payment of
any necessary transfer tax or other governmental charge imposed upon such
transfer. This Warrant is exchangeable at the principal office of the Issuer for
Warrants for the purchase of the same aggregate number of shares of Warrant
Stock, each new Warrant to represent the right to purchase such number of shares
of Warrant Stock as the Holder hereof shall designate at the time of such
exchange. All Warrants issued on transfers or exchanges shall be dated the
Original Issue Date and shall be identical with this Warrant except as to the
name of the Holder or the number of shares of Warrant Stock, as applicable.

     (f)  CONTINUING RIGHTS OF HOLDER. The Issuer will, at the time of or at any
time after each exercise of this Warrant, upon the request of the Holder hereof,
acknowledge in writing the extent, if any, of its continuing obligation to
afford to such Holder all rights to which such Holder shall continue to be
entitled after such exercise in accordance with the terms of this Warrant,
PROVIDED that if any such Holder shall fail to make any such request, the
failure shall not affect the continuing obligation of the Issuer to afford such
rights to such Holder.

     (g)  COMPLIANCE WITH SECURITIES LAWS.

          (i)     The Holder of this Warrant, by acceptance hereof, acknowledges
     that this Warrant or the shares of Warrant Stock to be issued upon exercise
     hereof are being acquired solely for the Holder's own account and not as a
     nominee for any other party, and for investment, and that the Holder will
     not offer, sell or otherwise dispose of this Warrant or any shares of
     Warrant Stock to be issued upon exercise hereof except pursuant to an
     effective registration statement, or an exemption from registration, under
     the Securities Act and any applicable state securities laws.

          (ii)    Except as provided in paragraph (iii) below, this Warrant and
     all certificates representing shares of Warrant Stock issued upon exercise
     hereof shall be stamped or imprinted with a legend in substantially the
     following form:

          THIS WARRANT AND THE SHARES OF COMMON STOCK ISSUABLE UPON
          EXERCISE HEREOF HAVE NOT BEEN

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          REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
          "SECURITIES ACT") OR ANY STATE SECURITIES LAWS AND MAY NOT
          BE SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS
          REGISTERED UNDER THE SECURITIES ACT AND UNDER APPLICABLE
          STATE SECURITIES LAWS OR SATCON TECHNOLOGY CORPORATION SHALL
          HAVE RECEIVED AN OPINION OF COUNSEL REASONABLY SATISFACTORY
          TO SATCON TECHNOLOGY CORPORATION THAT REGISTRATION OF SUCH
          SECURITIES UNDER THE SECURITIES ACT AND UNDER THE PROVISIONS
          OF APPLICABLE STATE SECURITIES LAWS IS NOT REQUIRED.

          (iii)   The restrictions imposed by this subsection (e) upon the
     transfer of this Warrant or the shares of Warrant Stock to be purchased
     upon exercise hereof shall terminate (A) when such securities shall have
     been resold pursuant to an effective registration statement under the
     Securities Act, (B) upon the Issuer's receipt of an opinion of counsel, in
     form and substance reasonably satisfactory to the Issuer, addressed to the
     Issuer to the effect that such restrictions are no longer required to
     ensure compliance with the Securities Act and state securities laws or (C)
     upon the Issuer's receipt of other evidence reasonably satisfactory to the
     Issuer that such registration and qualification under the Securities Act
     and state securities laws are not required. Whenever such restrictions
     shall cease and terminate as to any such securities, the Holder thereof
     shall be entitled to receive from the Issuer (or its transfer agent and
     registrar), without expense (other than applicable transfer taxes, if any),
     new Warrants (or, in the case of shares of Warrant Stock, new stock
     certificates) of like tenor not bearing the applicable legend required by
     paragraph (ii) above relating to the Securities Act and state securities
     laws.

     (h)  In no event may the Holder exercise this Warrant in whole or in part
unless the Holder is an "accredited investor" as defined in Regulation D under
the Securities Act.

     3.   STOCK FULLY PAID; RESERVATION AND LISTING OF SHARES; COVENANTS.

     (a)  STOCK FULLY PAID. The Issuer represents, warrants, covenants and
agrees that all shares of Warrant Stock which may be issued upon the exercise of
this Warrant or otherwise hereunder will, when issued in accordance with the
terms of this Warrant, be duly authorized, validly issued, fully paid and
non-assessable and free from all taxes, liens and charges created by or through
Issuer. The Issuer further covenants and agrees that during the period within
which this Warrant may be exercised, the Issuer will at all times have
authorized and reserved for the purpose of the issue upon exercise of this
Warrant a sufficient number of shares of Common Stock to provide for the
exercise of this Warrant.

     (b)  RESERVATION. If any shares of Common Stock required to be reserved for
issuance upon exercise of this Warrant or as otherwise provided hereunder
require registration or qualification with any governmental authority under any
federal or state law before such shares

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may be so issued, the Issuer will in good faith use its reasonable best efforts
as expeditiously as possible at its expense to cause such shares to be duly
registered or qualified. If the Issuer shall list any shares of Common Stock on
any securities exchange or market it will, at its expense, list thereon,
maintain and increase when necessary such listing, of, all shares of Warrant
Stock from time to time issued upon exercise of this Warrant or as otherwise
provided hereunder (provided that such Warrant Stock has been registered
pursuant to a registration statement under the Securities Act then in effect),
and, to the extent permissible under the applicable securities exchange rules,
all unissued shares of Warrant Stock which are at any time issuable hereunder,
so long as any shares of Common Stock shall be so listed. The Issuer will also
so list on each securities exchange or market, and will maintain such listing
of, any other securities which the Holder of this Warrant shall be entitled to
receive upon the exercise of this Warrant if at the time any securities of the
same class shall be listed on such securities exchange or market by the Issuer.

     (c)  COVENANTS. The Issuer shall not by any action including, without
limitation, amending the Certificate of Incorporation or the by-laws of the
Issuer, or through any reorganization, transfer of assets, consolidation,
merger, dissolution, issue or sale of securities or any other action, avoid or
seek to avoid the observance or performance of any of the terms of this Warrant,
but will at all times in good faith assist in the carrying out of all such terms
and in the taking of all such actions as may be necessary or appropriate to
protect the rights of the Holder hereof against dilution (to the extent
specifically provided herein) or impairment. Without limiting the generality of
the foregoing, the Issuer will (i) not permit the par value, if any, of its
Common Stock to exceed the then effective Warrant Price, (ii) not amend or
modify any provision of the Certificate of Incorporation or by-laws of the
Issuer in any manner that would adversely affect the rights of the Holders of
the Warrants in their capacity as Holders of the Warrants, (iii) take all such
action as may be reasonably necessary in order that the Issuer may validly and
legally issue fully paid and nonassessable shares of Common Stock, free and
clear of any liens, claims, encumbrances and restrictions (other than as
provided herein) upon the exercise of this Warrant, and (iv) use its reasonable
best efforts to obtain all such authorizations, exemptions or consents from any
public regulatory body having jurisdiction thereof as may be reasonably
necessary to enable the Issuer to perform its obligations under this Warrant.

     (d)  LOSS, THEFT, DESTRUCTION OF WARRANTS. Upon receipt of evidence
satisfactory to the Issuer of the ownership of and the loss, theft, destruction
or mutilation of any Warrant and, in the case of any such loss, theft or
destruction, upon receipt of indemnity or security satisfactory to the Issuer
or, in the case of any such mutilation, upon surrender and cancellation of such
Warrant, the Issuer will make and deliver, in lieu of such lost, stolen,
destroyed or mutilated Warrant, a new Warrant of like tenor and representing the
right to purchase the same number of shares of Common Stock.

     4.   ADJUSTMENT OF WARRANT PRICE AND WARRANT SHARE NUMBER. The number of
shares of Common Stock for which this Warrant is exercisable, and the price at
which such shares may be purchased upon exercise of this Warrant, shall be
subject to adjustment from time to time as set forth in this Section 4. The
Issuer shall give the Holder notice of any event described below which requires
an adjustment pursuant to this Section 4 in accordance with Section 5.

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     (a)  RECAPITALIZATION, REORGANIZATION, RECLASSIFICATION, CONSOLIDATION,
MERGER OR SALE.

          (i)     In case the Issuer after the Original Issue Date shall do any
     of the following (each, a "TRIGGERING EVENT"): (a) consolidate or merge
     with or into another corporation where the holders of outstanding Voting
     Stock prior to such merger or consolidation do not own over 50% of the
     outstanding Voting Stock of the merged or consolidated entity immediately
     after such merger or consolidation, or (b) sell all or substantially all of
     its properties or assets to any other Person, or (c) change the Common
     Stock to the same or different number of shares of any class or classes of
     stock, whether by reclassification, exchange, substitution or otherwise
     (other than by way of a stock split or combination of shares or stock
     dividends or distributions provided for in Section 4(b) or Section 4(c)),
     or (d) effect a capital reorganization (other than by way of a stock split
     or combination of shares or stock dividends or distributions provided for
     in Section 4(b) or Section 4(c)), then, and in the case of each such
     Triggering Event, proper provision shall be made so that, upon the basis
     and the terms and in the manner provided in this Warrant, the Holder of
     this Warrant shall be entitled upon the exercise hereof at any time after
     the consummation of such Triggering Event, to the extent this Warrant is
     not exercised prior to such Triggering Event, to receive at the Warrant
     Price in effect at the time immediately prior to the consummation of such
     Triggering Event in lieu of the Common Stock issuable upon such exercise of
     this Warrant prior to such Triggering Event, the securities, cash and
     property to which such Holder would have been entitled upon the
     consummation of such Triggering Event if such Holder had exercised the
     rights represented by this Warrant immediately prior thereto, subject to
     adjustments (subsequent to such corporate action) as nearly equivalent as
     possible to the adjustments provided for elsewhere in this Section 4.

          (ii)    Notwithstanding anything contained in this Warrant to the
     contrary, a Triggering Event shall not be deemed to have occurred if, prior
     to the consummation thereof, each Person (other than the Issuer) which may
     be required to deliver any securities, cash or property upon the exercise
     of this Warrant as provided herein shall assume, by written instrument
     delivered to, and reasonably satisfactory to, the Holder of this Warrant,
     (A) the obligations of the Issuer under this Warrant (and if the Issuer
     shall survive the consummation of such Triggering Event, such assumption
     shall be in addition to, and shall not release the Issuer from, any
     continuing obligations of the Issuer under this Warrant) and (B) the
     obligation to deliver to such Holder such shares of securities, cash or
     property as, in accordance with the foregoing provisions of this subsection
     (a), such Holder shall be entitled to receive, and such Person shall have
     similarly delivered to such Holder a written acknowledgement executed by
     the President or Chief Financial Officer of the Company, stating that this
     Warrant shall thereafter continue in full force and effect and the terms
     hereof (including, without limitation, all of the provisions of this
     subsection (a)) shall be applicable to the securities, cash or property
     which such Person may be required to deliver upon any exercise of this
     Warrant or the exercise of any rights pursuant hereto.

          (b)     STOCK DIVIDENDS, SUBDIVISIONS AND COMBINATIONS. If at any time
the Issuer shall:

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                  (i)     make or issue or set a record date for the holders of
     its Common Stock for the purpose of entitling them to receive a dividend
     payable in, or other distribution of, shares of Common Stock,

                  (ii)    effect a stock split of its outstanding shares of
     Common Stock into a larger number of shares of Common Stock, or

                  (iii)   combine its outstanding shares of Common Stock into a
     smaller number of shares of Common Stock,

then (1) the number of shares of Common Stock for which this Warrant is
exercisable immediately after the occurrence of any such event shall be adjusted
to equal the number of shares of Common Stock which a record holder of the same
number of shares of Common Stock for which this Warrant is exercisable
immediately prior to the occurrence of such event would own or be entitled to
receive after the happening of such event, and (2) the Warrant Price then in
effect shall be adjusted to equal (A) the Warrant Price then in effect
multiplied by the number of shares of Common Stock for which this Warrant is
exercisable immediately prior to the adjustment divided by (B) the number of
shares of Common Stock for which this Warrant is exercisable immediately after
such adjustment.

Notwithstanding the foregoing, if such record date shall have been fixed and
such dividend is not fully paid or if such distribution is not fully made on the
date fixed therefor, the Warrant Price shall be adjusted pursuant to this
paragraph as of the time of actual payment of such dividends or distributions.

     (c)  FORM OF WARRANT AFTER ADJUSTMENTS. The form of this Warrant need not
be changed because of any adjustments in the Warrant Price or the number and
kind of Securities purchasable upon the exercise of this Warrant.

     5.   NOTICE OF ADJUSTMENTS. Whenever the Warrant Price or Warrant Share
Number shall be adjusted pursuant to Section 4 hereof (for purposes of this
Section 5, each an "adjustment"), the Issuer shall cause its Chief Financial
Officer to prepare and execute a certificate setting forth, in reasonable
detail, the event requiring the adjustment, the amount of the adjustment, the
method by which such adjustment was calculated (including a description of the
basis on which the Board made any determination hereunder), and the Warrant
Price and Warrant Share Number after giving effect to such adjustment, and shall
cause copies of such certificate to be delivered to the Holder of this Warrant
promptly after each adjustment. Any dispute between the Issuer and the Holder of
this Warrant with respect to the matters set forth in such certificate may at
the option of the Holder of this Warrant be submitted to one of the national
accounting firms currently known as the "big four" selected by the Holder,
PROVIDED that the Issuer shall have ten (10) days after receipt of notice from
such Holder of its selection of such firm to object thereto, in which case such
Holder shall select another such firm and the Issuer shall have no such right of
objection. The firm selected by the Holder of this Warrant as provided in the
preceding sentence shall be instructed to deliver a written opinion as to such
matters to the Issuer and such Holder within thirty (30) days after submission
to it of such

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dispute. Such opinion shall be final and binding on the parties hereto.

     6.   FRACTIONAL SHARES. No fractional shares of Warrant Stock will be
issued in connection with and exercise hereof, but in lieu of such fractional
shares, the Issuer shall make a cash payment therefor equal in amount to the
product of the applicable fraction multiplied by the Per Share Market Value then
in effect.

     7.   CERTAIN EXERCISE RESTRICTIONS. Notwithstanding anything to the
contrary set forth herein, the Issuer shall not be obligated to issue in excess
of an aggregate of 3,408,677 shares of Common Stock upon exercise of the
Warrant, conversion of the secured convertible promissory notes issued pursuant
to the Note and Warrant Purchase Agreement dated as of the date hereof by and
among the Issuer and the purchasers named therein and any shares of Common Stock
issuable in connection with the Purchase Agreement and the Note and Warrant
Purchase Agreement (including upon the exercise of the warrants issued thereto
and to placement agents for the transactions contemplated by such agreements)
(the "ISSUABLE MAXIMUM"). The Issuable Maximum equals 19.999% of the number of
shares of Common Stock outstanding immediately prior to the Original Issue Date.
If on any Warrant exercise date (A) the Common Stock is listed for trading on
The Nasdaq National Market or The Nasdaq SmallCap Market, (B) the Warrant Price
then in effect is such that the aggregate number of shares of Common Stock
previously issued upon exercise of Warrants or otherwise issued in connection
with the Purchase Agreement, would equal or exceed the Issuable Maximum, and (C)
the Issuer shall not have previously obtained the vote of stockholders (the
"STOCKHOLDER APPROVAL"), if any, as may be required by the applicable rules and
regulations of The Nasdaq Stock Market, Inc. (or any successor entity)
applicable to approve the issuance of shares of Common Stock in excess of the
Issuable Maximum pursuant to the terms hereof, then the Issuer shall issue to
the holder so requesting such number of shares of Common Stock equal to such
holder's pro rata portion of the Issuable Maximum as of the initial purchase
date and, with respect to the remainder of shares of Common Stock which would
result in an issuance of shares of Common Stock in excess of the Issuable
Maximum (the "EXCESS SHARES"), the Issuer shall have the option to either (1)
use its reasonable efforts to obtain the Stockholder Approval applicable to such
issuance as soon as is possible, but in any event not later than the later of
June 15, 2003 and the 90th day after such request, or (2) deliver to such holder
cash in lieu of Common Stock otherwise required to be delivered in an amount
equal to the product of (x) the Per Share Market Value on the applicable Warrant
exercise date, and (y) the number of shares of Common Stock in excess of such
holder's pro rata portion of the Issuable Maximum that would have otherwise been
issuable to the holder but for the provisions of this Section (such amount of
cash being hereinafter referred to as the "REPURCHASE AMOUNT"). If the Issuer
fails to pay the Repurchase Amount in full pursuant to this Section within
fifteen (15) days after the Issuer fails to obtain Stockholder Approval pursuant
to (1) above or within fifteen (15) days of the date payable pursuant to (2)
above, the Issuer will pay interest thereon at a rate of 10% per annum to the
holder, accruing daily from the applicable exercise until such amount, plus all
such interest thereon, is paid in full. The Issuer and the Holder understand and
agree that shares of Common Stock issued to and then held by the Holder as a
result of exercise of the Warrant shall not be entitled to cast votes on any
resolution to obtain Stockholder Approval.

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     8.   DEFINITIONS. For the purposes of this Warrant, the following terms
have the following meanings:

          "BOARD" shall mean the Board of Directors of the Issuer.

          "CAPITAL STOCK" means and includes (i) any and all shares, interests,
     participations or other equivalents of or interests in (however designated)
     corporate stock, including, without limitation, shares of preferred or
     preference stock, (ii) all partnership interests (whether general or
     limited) in any Person which is a partnership, (iii) all membership
     interests or limited liability company interests in any limited liability
     company, and (iv) all equity or ownership interests in any Person of any
     other type.

          "CERTIFICATE OF INCORPORATION" means the Certificate of Incorporation
     of the Issuer as in effect on the Original Issue Date, and as hereafter
     from time to time amended, modified, supplemented or restated in accordance
     with the terms hereof and thereof and pursuant to applicable law.

          "COMMON STOCK" means the Common Stock, par value $.01 per share, of
     the Issuer and any other Capital Stock into which such stock may hereafter
     be changed.

          "COMMON STOCK EQUIVALENT" means any Convertible Security or warrant,
     option or other right to subscribe for or purchase any Additional Shares of
     Common Stock or any Convertible Security.

          "CONVERTIBLE SECURITIES" means evidences of Indebtedness, shares of
     Capital Stock or other Securities which are or may be at any time
     convertible into or exchangeable for Additional Shares of Common Stock. The
     term "Convertible Security" means one of the Convertible Securities.

          "GOVERNMENTAL AUTHORITY" means any governmental, regulatory or
     self-regulatory entity, department, body, official, authority, commission,
     board, agency or instrumentality, whether federal, state or local, and
     whether domestic or foreign.

          "HOLDERS" mean the Persons who shall from time to time own any
     Warrant. The term "Holder" means one of the Holders.

          "INDEPENDENT APPRAISER" means a nationally recognized or major
     regional investment banking firm or firm of independent certified public
     accountants of recognized standing (which may be the firm that regularly
     examines the financial statements of the Issuer) that is regularly engaged
     in the business of appraising the Capital Stock or assets of corporations
     or other entities as going concerns, and which is not affiliated with
     either the Issuer or the Holder of any Warrant.

          "ISSUER" means SatCon Technology Corporation, a Delaware corporation,
     and its successors.

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          "MAJORITY HOLDERS" means at any time the Holders of Warrants
     exercisable for a majority of the shares of Warrant Stock issuable under
     the Warrants at the time outstanding.

          "NASDAQ" means the Nasdaq National Market or the Nasdaq SmallCap
     Market.

          "ORIGINAL ISSUE DATE" means February 18, 2003.

          "OTC BULLETIN BOARD" means the over-the-counter electronic bulletin
     board.

          "OTHER COMMON" means any other Capital Stock of the Issuer of any
     class which shall be authorized at any time after the date of this Warrant
     (other than Common Stock) and which shall have the right to participate in
     the distribution of earnings and assets of the Issuer without limitation as
     to amount.

          "OUTSTANDING COMMON STOCK" means, at any given time, the aggregate
     amount of outstanding shares of Common Stock, assuming full exercise,
     conversion or exchange (as applicable) of all options, warrants and other
     Securities which are convertible into or exercisable or exchangeable for,
     and any right to subscribe for, shares of Common Stock that are outstanding
     at such time.

          "PERSON" means an individual, corporation, limited liability company,
     partnership, joint stock company, trust, unincorporated organization, joint
     venture, Governmental Authority or other entity of whatever nature.

          "PER SHARE MARKET VALUE" means on any particular date (a) the average
     of the closing bid and asked price per share of the Common Stock on such
     date on Nasdaq or another registered national stock exchange on which the
     Common Stock is then listed, or if there is no such price on such date,
     then the average of the closing bid and asked price on such exchange or
     quotation system on the date nearest preceding such date, or (b) if the
     Common Stock is not listed then on Nasdaq or any registered national stock
     exchange, the closing bid price for a share of Common Stock in the
     over-the-counter market, as reported by the OTC Bulletin Board or in the
     National Quotation Bureau Incorporated or similar organization or agency
     succeeding to its functions of reporting prices) at the close of business
     on such date, or (c) if the Common Stock is not then reported by the OTC
     Bulletin Board or the National Quotation Bureau Incorporated (or similar
     organization or agency succeeding to its functions of reporting prices),
     then the average of the "Pink Sheet" quotes for the relevant conversion
     period, as determined in good faith by the holder, or (d) if the Common
     Stock is not then publicly traded the fair market value of a share of
     Common Stock as determined by an Independent Appraiser selected in good
     faith by the Majority Holders; PROVIDED, HOWEVER, that the Issuer, after
     receipt of the determination by such Independent Appraiser, shall have the
     right to select an additional Independent Appraiser, in which case, the
     fair market value shall be equal to the average of the determinations by
     each such Independent Appraiser; and PROVIDED, FURTHER that all
     determinations of the Per Share Market Value shall be appropriately

<Page>

     adjusted for any stock dividends, stock splits or other similar
     transactions during such period. The determination of fair market value by
     an Independent Appraiser shall be based upon the fair market value of the
     Issuer determined on a going concern basis as between a willing buyer and a
     willing seller and taking into account all relevant factors determinative
     of value, and shall be final and binding on all parties. In determining the
     fair market value of any shares of Common Stock, no consideration shall be
     given to any restrictions on transfer of the Common Stock imposed by
     agreement or by federal or state securities laws, or to the existence or
     absence of, or any limitations on, voting rights.

          "PURCHASE AGREEMENT" means the Series A Convertible Preferred Stock
     Purchase Agreement dated as of February 18, 2003, among the Issuer and the
     investors a party thereto.

          "SECURITIES" means any debt or equity securities of the Issuer,
     whether now or hereafter authorized, any instrument convertible into or
     exchangeable for Securities or a Security, and any option, warrant or other
     right to purchase or acquire any Security. "Security" means one of the
     Securities.

          "SECURITIES ACT" means the Securities Act of 1933, as amended, or any
     similar federal statute then in effect.

          "SUBSIDIARY" means any corporation at least 50% of whose outstanding
     Voting Stock shall at the time be owned directly or indirectly by the
     Issuer or by one or more of its Subsidiaries, or by the Issuer and one or
     more of its Subsidiaries.

          "TERM" has the meaning specified in Section 1 hereof.

          "TRADING DAY" means (a) a day on which the Common Stock is traded on
     Nasdaq, or (b) if the Common Stock is not listed on Nasdaq, a day on which
     the Common Stock is traded on any other registered national stock exchange,
     or (c) if the Common Stock is not traded on any other registered national
     stock exchange, a day on which the Common Stock is traded on the OTC
     Bulletin Board, or (d) if the Common Stock is not traded on the OTC
     Bulletin Board, a day on which the Common Stock is quoted in the
     over-the-counter market as reported by the National Quotation Bureau
     Incorporated (or any similar organization or agency succeeding its
     functions of reporting prices); PROVIDED, HOWEVER, that in the event that
     the Common Stock is not listed or quoted as set forth in (a), (b) or (c)
     hereof, then Trading Day shall mean any day except Saturday, Sunday and any
     day which shall be a legal holiday or a day on which banking institutions
     in the State of New York are authorized or required by law or other
     government action to close.

          "VOTING STOCK" means, as applied to the Capital Stock of any
     corporation, Capital Stock of any class or classes (however designated)
     having ordinary voting power for the election of a majority of the members
     of the Board of Directors (or other governing body) of such corporation,
     other than Capital Stock having such power only by reason of the happening
     of a contingency.

<Page>

          "WARRANTS" means the Warrants issued and sold pursuant to the Purchase
     Agreement, including, without limitation, this Warrant, and any other
     warrants of like tenor issued in substitution or exchange for any thereof
     pursuant to the provisions of Section 2(c), 2(d) or 2(e) hereof or of any
     of such other Warrants.

          "WARRANT PRICE" initially means U.S. $.01, as such price may be
     adjusted from time to time as shall result from the adjustments specified
     in this Warrant, including Section 4 hereto.

          "WARRANT SHARE NUMBER" means at any time the aggregate number of
     shares of Warrant Stock which may at such time be purchased upon exercise
     of this Warrant, after giving effect to all prior adjustments and increases
     to such number made or required to be made under the terms hereof.

          "WARRANT STOCK" means Common Stock issuable upon exercise of any
     Warrant or Warrants or otherwise issuable pursuant to any Warrant or
     Warrants.

     9.   OTHER NOTICES. In case at any time:

                          (A)   the Issuer shall make any distributions to the
                                holders of Common Stock; or

                          (B)   the Issuer shall authorize the granting to all
                                holders of its Common Stock of rights to
                                subscribe for or purchase any shares of Capital
                                Stock of any class or other rights; or

                          (C)   there shall be any reclassification of the
                                Capital Stock of the Issuer; or

                          (D)   there shall be any capital reorganization by the
                                Issuer; or

                          (E)   there shall be any (i) consolidation or merger
                                involving the Issuer or (ii) sale, transfer or
                                other disposition of all or substantially all of
                                the Issuer's property, assets or business
                                (except a merger or other reorganization in
                                which the Issuer shall be the surviving
                                corporation and its shares of Capital Stock
                                shall continue to be outstanding and unchanged
                                and except a consolidation, merger, sale,
                                transfer or other disposition involving a
                                wholly-owned Subsidiary); or

                          (F)   there shall be a voluntary or involuntary
                                dissolution, liquidation or winding-up of the
                                Issuer or any partial liquidation of the Issuer
                                or distribution to holders of Common Stock;

<Page>

then, in each of such cases, the Issuer shall give written notice to the Holder
of the date on which (i) the books of the Issuer shall close or a record shall
be taken for such dividend, distribution or subscription rights or (ii) such
reorganization, reclassification, consolidation, merger, disposition,
dissolution, liquidation or winding-up, as the case may be, shall take place.
Such notice also shall specify the date as of which the holders of Common Stock
of record shall participate in such dividend, distribution or subscription
rights, or shall be entitled to exchange their certificates for Common Stock for
securities or other property deliverable upon such reorganization,
reclassification, consolidation, merger, disposition, dissolution, liquidation
or winding-up, as the case may be. Such notice shall be given at least twenty
(20) days prior to the record date or effective date for the event specified in
such notice.

     10.  AMENDMENT AND WAIVER. Any term, covenant, agreement or condition in
this Warrant may be amended, or compliance therewith may be waived (either
generally or in a particular instance and either retroactively or
prospectively), by a written instrument or written instruments executed by the
Issuer and the Majority Holders; PROVIDED, HOWEVER, that no such amendment or
waiver shall reduce the Warrant Share Number, increase the Warrant Price,
shorten the period during which this Warrant may be exercised or modify any
provision of this Section 10 without the consent of the Holder of this Warrant.

     11.  GOVERNING LAW. THIS WARRANT SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO
PRINCIPLES OF CONFLICTS OF LAW.

     12.  NOTICES. Any and all notices or other communications or deliveries
required or permitted to be provided hereunder shall be in writing and shall be
deemed given and effective on the earlier of (i) the date of transmission, if
such notice or communication is delivered via facsimile at the facsimile
telephone number specified for notice prior to 5:00 p.m., eastern time, on a
Trading Day, (ii) the Trading Day after the date of transmission, if such notice
or communication is delivered via facsimile at the facsimile telephone number
specified for notice later than 5:00 p.m., eastern time, on any date and earlier
than 11:59 p.m., eastern time, on such date, (iii) the Trading Day following the
date of mailing, if sent by nationally recognized overnight courier service or
(iv) actual receipt by the party to whom such notice is required to be given.
The addresses for such communications shall be with respect to the Holder of
this Warrant or of Warrant Stock issued pursuant hereto, addressed to such
Holder at its last known address or facsimile number appearing on the books of
the Issuer maintained for such purposes, or with respect to the Issuer,
addressed to:

                          SatCon Technology Corporation
                          161 First Street
                          Cambridge, MA 02142
                          Attention: David B. Eisenhaure
                          Tel. No.: (617) 661-0540
                          Fax No.:  (617) 349-0898

Copies of notices to the Holder shall be sent to Jenkens & Gilchrist Parker
Chapin LLP, 405 Lexington Avenue, New York, New York 10174, Attention:
Christopher S. Auguste, Facsimile

<Page>

No.: (212) 704-6288. Any party hereto may from time to time change its address
for notices by giving at least ten (10) days written notice of such changed
address to the other party hereto.

     13.  WARRANT AGENT. The Issuer may, by written notice to each Holder of
this Warrant, appoint an agent having an office in New York, New York for the
purpose of issuing shares of Warrant Stock on the exercise of this Warrant
pursuant to subsection (b) of Section 2 hereof, exchanging this Warrant pursuant
to subsection (d) of Section 2 hereof or replacing this Warrant pursuant to
subsection (d) of Section 3 hereof, or any of the foregoing, and thereafter any
such issuance, exchange or replacement, as the case may be, shall be made at
such office by such agent.

     14.  REMEDIES. The Issuer stipulates that the remedies at law of the Holder
of this Warrant in the event of any default or threatened default by the Issuer
in the performance of or compliance with any of the terms of this Warrant are
not and will not be adequate and that, to the fullest extent permitted by law,
such terms may be specifically enforced by a decree for the specific performance
of any agreement contained herein or by an injunction against a violation of any
of the terms hereof or otherwise.

     15.  SUCCESSORS AND ASSIGNS. This Warrant and the rights evidenced hereby
shall inure to the benefit of and be binding upon the successors and assigns of
the Issuer, the Holder hereof and (to the extent provided herein) the Holders of
Warrant Stock issued pursuant hereto, and shall be enforceable by any such
Holder or Holder of Warrant Stock.

     16.  MODIFICATION AND SEVERABILITY. If, in any action before any court or
agency legally empowered to enforce any provision contained herein, any
provision hereof is found to be unenforceable, then such provision shall be
deemed modified to the extent necessary to make it enforceable by such court or
agency. If any such provision is not enforceable as set forth in the preceding
sentence, the unenforceability of such provision shall not affect the other
provisions of this Warrant, but this Warrant shall be construed as if such
unenforceable provision had never been contained herein.

     17.  HEADINGS. The headings of the Sections of this Warrant are for
convenience of reference only and shall not, for any purpose, be deemed a part
of this Warrant.

<Page>

     IN WITNESS WHEREOF, the Issuer has executed this Series A Warrant as of the
day and year first above written.

                                            SATCON TECHNOLOGY CORPORATION


                                            By:
                                               ---------------------------------
                                               Name:
                                               Title:

<Page>

                                  EXERCISE FORM
                          SATCON TECHNOLOGY CORPORATION

The undersigned ____________, pursuant to the provisions of the within Warrant,
hereby elects to purchase _______ shares of Common Stock of SatCon Technology
Corporation covered by the within Warrant.

Dated:                                  Signature
      -------------------                              ----------------------
                                        Address
                                                       ----------------------
                                                       ----------------------

Number of shares of Common Stock beneficially owned or deemed beneficially owned
by the Holder on the date of Exercise: ________________

                                   ASSIGNMENT

FOR VALUE RECEIVED, ______________ hereby sells, assigns and transfers unto
___________ the within Warrant and all rights evidenced thereby and does
irrevocably constitute and appoint _________, attorney, to transfer the said
Warrant on the books of the within named corporation.

Dated:                                  Signature
      -------------------                              ----------------------
                                        Address
                                                       ----------------------
                                                       ----------------------

                               PARTIAL ASSIGNMENT

FOR VALUE RECEIVED, ______________ hereby sells, assigns and transfers unto
__________ the right to purchase _____ shares of Warrant Stock evidenced by the
within Warrant together with all rights therein, and does irrevocably constitute
and appoint _____________, attorney, to transfer that part of the said Warrant
on the books of the within named corporation.

Dated:                                  Signature
      -------------------                              ----------------------
                                        Address
                                                       ----------------------
                                                       ----------------------

                           FOR USE BY THE ISSUER ONLY:

This Warrant No. W-___ canceled (or transferred or exchanged) this _____ day of
_________, ____, shares of Common Stock issued therefor in the name of
_______________, Warrant No. W-___ issued for____ shares of Common Stock in the
name of ___________.

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