<PAGE>
 
                                                                   Exhibit 10.15
                                                                   -------------

                          SCHEDULE OF MATERIAL TERMS
                          --------------------------


<TABLE>
<CAPTION>
------------------------------------------------------------------------------
Name                     Warrant Number   Date of Issuance    Number of Shares
----------------------   --------------   -----------------   ----------------
------------------------------------------------------------------------------
<S>                      <C>              <C>                        <C> 
Pasquale Ruggieri               10        November 11, 1998             32,028
------------------------------------------------------------------------------
Arthur G. Jenkins               11        November 11, 1998             24,853
------------------------------------------------------------------------------
Nicholas Moceri                 12        November 11, 1998              3,074
------------------------------------------------------------------------------
Thomas W.                       13        November 11, 1998              1,602
 Schneider
------------------------------------------------------------------------------
Kevin Carey                     14        November 11, 1998              1,537
------------------------------------------------------------------------------
Henry Tow                       15        November 11, 1998              1,537
------------------------------------------------------------------------------
Siegfried P. Duray-             16        November 11, 1998                303
 Bito
------------------------------------------------------------------------------
Roger P. May                    17        November 11, 1998                303
------------------------------------------------------------------------------
Thomas J.                       18        November 11, 1998                242
 O'Rourke
------------------------------------------------------------------------------
Jay A. Murray                   19        November 11, 1998                109
------------------------------------------------------------------------------
Joan Taylor                     20        November 11, 1998              1,537
------------------------------------------------------------------------------
</TABLE>

          THIS WARRANT AND THE SHARES OF COMMON STOCK ISSUED UPON ITS
                  EXERCISE ARE SUBJECT TO THE RESTRICTIONS ON
                TRANSFER SET FORTH IN SECTION 4 OF THIS WARRANT
-------------------------------------------------------------------------------

Warrant No. ____                         Number of Shares:  ________
                                         (subject to adjustment)
Date of Issuance: November 11, 1998


                         SATCON TECHNOLOGY CORPORATION
                         -----------------------------

                         Common Stock Purchase Warrant
                         -----------------------------

                        (Void after November 11, 1999)
<PAGE>
 
     SatCon Technology Corporation, a Delaware corporation (the "Company"), for
value received, hereby certifies that _______________, or his registered assigns
(the "Registered Holder"), is entitled, subject to the terms set forth below, to
purchase from the Company, at any time or from time to time on or after the date
of issuance and on or before November 11, 1999 at not later than 5:00 p.m.
(Boston, Massachusetts time), ______ shares of Common Stock, $.01 par value per
share, of the Company, at a purchase price of $11.43 per share.  The shares
purchasable upon exercise of this Warrant, and the purchase price per share,
each as adjusted from time to time pursuant to the provisions of this Warrant,
are hereinafter referred to as the "Warrant Shares" and the "Purchase Price,"
respectively.  This Warrant is one of a series of Warrants (collectively, the
"Company Warrants") issued by the Company in replacement of certain $11.55
common stock purchase warrants issued by the Company to Josephthal Lyon & Ross
Incorporated ("Josephthal") (and subsequently assigned by Josephthal to the
Registered Holders) in connection with the Company's initial public offering of
securities in November 1992.
 
     1.   Exercise.
          -------- 

          (a) This Warrant may be exercised by the Registered Holder, in whole
or in part, by surrendering this Warrant, with the purchase form appended hereto
as Exhibit I duly executed by such Registered Holder or by such Registered
   ---------                                                              
Holder's duly authorized attorney, at the principal office of the Company, or at
such other office or agency as the Company may designate, accompanied by payment
in full, in lawful money of the United States, of the Purchase Price payable in
respect of the number of Warrant Shares purchased upon such exercise.
 
          (b) Each exercise of this Warrant shall be deemed to have been
effected immediately prior to the close of business on the day on which this
Warrant shall have been surrendered to the Company as provided in subsection
1(a) above. At such time, the person or persons in whose name or names any
certificates for Warrant Shares shall be issuable upon such exercise as provided
in subsection 1(c) below shall be deemed to have become the holder or holders of
record of the Warrant Shares represented by such certificates.

          (c) As soon as practicable after the exercise of this Warrant in full
or in part, and in any event within 10 days thereafter, the Company, at its
expense, will cause to be issued in the name of, and delivered to, the
Registered Holder, or as such Holder (upon payment by such Holder of any
applicable transfer taxes) may direct:

              (i) a certificate or certificates for the number of full Warrant
Shares to which such Registered Holder shall be entitled upon such exercise
plus, in lieu of any fractional share to which such Registered Holder would
otherwise be entitled, cash in an amount determined pursuant to Section 3
hereof; and

                                      -2-
<PAGE>
 
              (ii) in case such exercise is in part only, a new warrant or
warrants (dated the date hereof) of like tenor, calling in the aggregate on the
face or faces thereof for the number of Warrant Shares equal (without giving
effect to any adjustment therein) to the number of such shares called for on the
face of this Warrant minus the number of such shares purchased by the Registered
Holder upon such exercise.

     2.   Adjustments.
          ----------- 

          (a) Recapitalizations.  If outstanding shares of the Company's Common
              -----------------                                                
Stock shall be subdivided into a greater number of shares or a dividend in
Common Stock shall be paid in respect of Common Stock, the Purchase Price in
effect immediately prior to such subdivision or at the record date of such
dividend shall simultaneously with the effectiveness of such subdivision or
immediately after the record date of such dividend be proportionately reduced.
If outstanding shares of Common Stock shall be combined into a smaller number of
shares, the Purchase Price in effect immediately prior to such combination
shall, simultaneously with the effectiveness of such combination, be
proportionately increased.  When any adjustment is required to be made in the
Purchase Price, the number of Warrant Shares purchasable upon the exercise of
this Warrant shall be changed to the number determined by dividing (i) an amount
equal to the number of shares issuable upon the exercise of this Warrant
immediately prior to such adjustment, multiplied by the Purchase Price in effect
immediately prior to such adjustment, by (ii) the Purchase Price in effect
immediately after such adjustment.


          (b) Mergers, etc.  If there shall occur any capital reorganization or
              ------------                                                     
reclassification of the Company's Common Stock (other than a change in par value
or a subdivision or combination as provided for in subsection 2(a) above), or
any consolidation or merger of the Company with or into another corporation, or
a transfer of all or substantially all of the assets of the Company, then, as
part of any such reorganization, reclassification, consolidation, merger or
sale, as the case may be, lawful provision shall be made so that the Registered
Holder of this Warrant shall have the right thereafter to receive upon the
exercise hereof the kind and amount of shares of stock or other securities or
property which such Registered Holder would have been entitled to receive if,
immediately prior to any such reorganization, reclassification, consolidation,
merger or sale, as the case may be, such Registered Holder had held the number
of shares of Common Stock which were then purchasable upon the exercise of this
Warrant.  In any such case, appropriate adjustment (as reasonably determined in
good faith by the Board of Directors of the Company) shall be made in the
application of the provisions set forth herein with respect to the rights and
interests thereafter of the Registered Holder of this Warrant, such that the
provisions set forth in this Section 2 (including provisions with respect to
adjustment of the Purchase Price) shall thereafter be applicable, as nearly as
is

                                      -3-
<PAGE>
 
reasonably practicable, in relation to any shares of stock or other securities
or property thereafter deliverable upon the exercise of this Warrant.

          (c) Certificate of Adjustment.  When any adjustment is required to be
              -------------------------                                        
made pursuant to this Section 2, the Company shall promptly mail to the
Registered Holder a certificate setting forth the Purchase Price after such
adjustment and setting forth a brief statement of the facts requiring such
adjustment.  Such certificate shall also set forth the kind and amount of stock
or other securities or property into which this Warrant shall be exercisable
following such adjustment.

     3.   Fractional Shares.  The Company shall not be required upon the
          -----------------                                             
exercise of this Warrant to issue any fractional shares, but shall make an
adjustment therefor in cash.

     4.   Requirements for Transfer.
          ------------------------- 

          (a) This Warrant and the Warrant Shares shall not be sold or
transferred unless either (i) they first shall have been registered under the
Securities Act of 1933, as amended (the "Securities Act"), or (ii) the Company
first shall have been furnished with an opinion of legal counsel, reasonably
satisfactory to the Company, to the effect that such sale or transfer is exempt
from the registration requirements of the Securities Act.

          (b) Notwithstanding the foregoing, no registration or opinion of
counsel shall be required for (i) a transfer by a Registered Holder which is a
partnership to a partner of such partnership or a retired partner of such
partnership who retires after the date hereof, or to the estate of any such
partner or retired partner, if the transferee agrees in writing to be subject to
the terms of this Section 4, or (ii) a transfer made in accordance with Rule 144
under the Securities Act.

          (c) Each certificate representing Warrant Shares shall bear a legend
substantially in the following form:

          "The securities represented by this certificate have not been
          registered under the Securities Act of 1933, as amended, and may not
          be offered, sold or otherwise transferred, pledged or hypothecated
          unless and until such securities are registered under such Act or an
          opinion of counsel satisfactory to the Company is obtained to the
          effect that such registration is not required."

The foregoing legend shall be removed from the certificates representing any
Warrant Shares, at the request of the holder thereof, at such time as they
become eligible for resale pursuant to Rule 144(k) under the Securities Act.

                                      -4-
<PAGE>
 
     5.   No Impairment.  The Company will not, by amendment of its charter or
          -------------                                                       
through reorganization, consolidation, merger, dissolution, sale of assets or
any other voluntary 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 action as
may be necessary or appropriate in order to protect the rights of the holder of
this Warrant against impairment.

     6.   Liquidating Dividends.  If the Company pays a dividend or makes a
          ---------------------                                            
distribution on the Common Stock payable otherwise than in cash out of earnings
or earned surplus (determined in accordance with generally accepted accounting
principles) except for a stock dividend payable in shares of Common Stock (a
"Liquidating Dividend"), then the Company will pay or distribute to the
Registered Holder of this Warrant, upon the exercise hereof, in addition to the
Warrant Shares purchased upon such exercise, the Liquidating Dividend which
would have been paid to such Registered Holder if he had been the owner of
record of such Warrant Shares immediately prior to the date on which a record is
taken for such Liquidating Dividend or, if no record is taken, the date as of
which the record holders of Common Stock entitled to such dividends or
distribution are to be determined.

     7.   Notices of Record Date, etc.  In case:
          ---------------------------           

          (a) the Company shall take a record of the holders of its Common Stock
(or other stock or securities at the time deliverable upon the exercise of this
Warrant) for the purpose of entitling or enabling them to receive any dividend
or other distribution, or to receive any right to subscribe for or purchase any
shares of stock of any class or any other securities, or to receive any other
right; or

          (b) of any capital reorganization of the Company, any reclassification
of the capital stock of the Company, any consolidation or merger of the Company
with or into another corporation (other than a consolidation or merger in which
the Company is the surviving entity), or any transfer of all or substantially
all of the assets of the Company; or

          (c) of the voluntary or involuntary dissolution, liquidation or
winding-up of the Company,

then, and in each such case, the Company will mail or cause to be mailed to the
Registered Holder of this Warrant a notice specifying, as the case may be, (i)
the date on which a record is to be taken for the purpose of such dividend,
distribution or right, and stating the amount and character of such dividend,
distribution or right, or (ii) the effective date on which such reorganization,
reclassification, consolidation, merger, transfer, dissolution, liquidation or
winding-up is to take place, and the time, if any is to be fixed, as of which
the holders of record of Common Stock (or such other stock or securities at the
time deliverable upon the exercise of this Warrant)

                                      -5-
<PAGE>
 
shall be entitled to exchange their shares of Common Stock (or such other stock
or securities) for securities or other property deliverable upon such
reorganization, reclassification, consolidation, merger, transfer, dissolution,
liquidation or winding-up. Such notice shall be mailed at least ten (10) days
prior to the record date or effective date for the event specified in such
notice.

     8.   Reservation of Stock.  The Company will at all times reserve and keep
          --------------------                                                 
available, solely for issuance and delivery upon the exercise of this Warrant,
such number of Warrant Shares and other stock, securities and property, as from
time to time shall be issuable upon the exercise of this Warrant.  The Company
agrees that, upon the exercise of this Warrant and payment of the Purchase Price
therefor, the Warrant Shares shall not be subject to the preemptive rights of
any stockholder of the Company.

     9.   Exchange of Warrants.  Upon the surrender by the Registered Holder of
          --------------------                                                 
any Warrant or Warrants, properly endorsed, to the Company at the principal
office of the Company, the Company will, subject to the provisions of Section 4
hereof, issue and deliver to or upon the order of such Registered Holder, at the
Registered Holder's expense, a new Warrant or Warrants of like tenor, in the
name of such Registered Holder or as such Registered Holder (upon payment by
such Registered Holder of any applicable transfer taxes) may direct, calling in
the aggregate on the face or faces thereof for the number of shares of Common
Stock called for on the face or faces of the Warrant or Warrants so surrendered.

     10.  Replacement of Warrants.  Upon receipt of evidence reasonably
          -----------------------                                      
satisfactory to the Company of the loss, theft, destruction or mutilation of
this Warrant and (in the case of loss, theft or destruction) upon delivery of an
indemnity agreement (with surety if reasonably required) in an amount reasonably
satisfactory to the Company, or (in the case of mutilation) upon surrender and
cancellation of this Warrant, the Company will issue, in lieu thereof, a new
Warrant of like tenor.

     11.  Transfers, etc.
          -------------- 

          (a) The Company will maintain a register containing the names and
addresses of the Registered Holders of this Warrant.  Any Registered Holder may
change its or his address as shown on the warrant register by written notice to
the Company requesting such change.

          (b) Subject to the provisions of Section 4 hereof, this Warrant and
all rights hereunder are transferable, in whole or in part, upon surrender of
this Warrant with a properly executed assignment (in the form of Exhibit II
                                                                 ----------
hereto) at the principal office of the Company.

                                      -6-
<PAGE>
 
          (c) Until any transfer of this Warrant is made in the warrant
register, the Company may treat the Registered Holder of this Warrant as the
absolute owner hereof for all purposes; provided, however, that if and when this
                                        --------  -------                       
Warrant is properly assigned in blank, the Company may (but shall not be
obligated to) treat the bearer hereof as the absolute owner hereof for all
purposes, notwithstanding any notice to the contrary.

     12.  Registration Rights
          -------------------

          (a) Whenever the Company proposes to file a Registration Statement
(including a Registration Statement covering shares to be sold solely for the
account of other holders of securities of the Company who are entitled, by
contract with the Company, to have securities included in such a registration
("Other Holders"), but excluding a registration statement covering shares to be
sold solely for the account of holders of Company Warrants upon exercise of such
Company Warrants) at any time and from time to time, it will, prior to such
filing, give written notice to the Registered Holders of its intention to do so;
provided, that no such notice need be given if no Warrant Shares are to be
included therein as a result of a determination of the managing underwriter
pursuant to Section 12(b).  Upon the written request of a Registered Holder or
Registered Holders given within 20 days after the Company provides such notice
(which request shall state the intended method of disposition of the Warrant
Shares), the Company shall use its best efforts to cause all Warrant Shares
which the Company has been requested by such Registered Holder or Registered
Holders to register to be registered under the Securities Act to the extent
necessary to permit their sale or other disposition in accordance with the
intended methods of distribution specified in the request of such Registered
Holder or Registered Holders; provided that the Company shall have the right to
postpone or withdraw any registration effected pursuant to this Section 12(a)
without obligation to any Registered Holder.

          (b) If the registration for which the Company gives notice pursuant to
Section 12(a) is a registered public offering involving an underwriting, the
Company shall so advise the Registered Holders as a part of the written notice
given pursuant to Section 12(a).  In such event, the right of any Registered
Holder to include its Warrant Shares in such registration pursuant to Section 12
shall be conditioned upon such Registered Holder's participation in such
underwriting on the terms set forth herein.  All Registered Holders proposing to
distribute their securities through such underwriting shall (together with the
Company, Other Holders, and any officers or directors distributing their
securities through such underwriting) enter into an underwriting agreement in
customary form with the underwriter or underwriters selected for the
underwriting by the Company.  Notwithstanding any other provision of this
Section 12, if the managing underwriter determines that the inclusion of all
shares requested to be registered would adversely affect the offering, the
Company may limit the number of Warrant Shares to be included in the

                                      -7-
<PAGE>
 
registration and underwriting.  The Company shall so advise all Registered
Holders requesting registration, and the number of shares that are entitled to
be included in the registration and underwriting shall be allocated in the
following manner.  The securities of the Company held by officers and directors
of the Company (other than Warrant Shares) shall be excluded from such
registration and underwriting to the extent deemed advisable by the managing
underwriter, and, if a further limitation on the number of shares is required,
the number of shares that may be included in such registration and underwriting
shall be allocated among all Registered Holders and Other Holders requesting
registration in proportion, as nearly as practicable, to the respective number
of shares of Common Stock which they held at the time the Company gives the
notice specified in Section 12(a).  If any Registered Holder or Other Holder
would thus be entitled to include more securities than such holder requested to
be registered, the excess shall be allocated among other requesting Registered
Holders and Other Holders pro rata in the manner described in the preceding
sentence.  If any Registered Holder or any officer, director or Other Holder
disapproves of the terms of any such underwriting, such person may elect to
withdraw therefrom by written notice to the Company, and any Warrant  Shares or
other securities excluded or withdrawn from such underwriting shall be withdrawn
from such registration.

          (c) Notwithstanding the foregoing, the Company shall not be required,
pursuant to this Section 12, to include any Warrant Shares in a Registration
Statement if such Warrant Shares can then be sold pursuant to Rule 144(k) under
the Securities Act and represent less than 1% of the then outstanding shares of
Common Stock.

     13.  Mailing of Notices, etc.  All notices and other communications from
          -----------------------                                            
the Company to the Registered Holder of this Warrant shall be mailed by first-
class certified or registered mail, postage prepaid, to the address furnished to
the Company in writing by the last Registered Holder of this Warrant who shall
have furnished an address to the Company in writing.  All notices and other
communications from the Registered Holder of this Warrant or in connection
herewith to the Company shall be mailed by first-class certified or registered
mail, postage prepaid, to the Company at its principal office set forth below.
If the Company should at any time change the location of its principal office to
a place other than as set forth below, it shall give prompt written notice to
the Registered Holder of this Warrant and thereafter all references in this
Warrant to the location of its principal office at the particular time shall be
as so specified in such notice.

     14.  No Rights as Stockholder.  Until the exercise of this Warrant, the
          ------------------------                                          
Registered Holder of this Warrant shall not have or exercise any rights by
virtue hereof as a stockholder of the Company.

                                      -8-
<PAGE>
 
     15.  Change or Waiver.  Any term of this Warrant may be amended or waived
          ----------------                                                    
upon the written consent of the Company and the holders of Company Warrants
representing at least a Majority (as hereinafter defined) of the Registered
Holders of the Warrant Shares; provided that any such amendment or waiver must
                               --------                                       
apply to all Company Warrants then outstanding; and provided further that the
                                                    -------- -------         
number of Warrant Shares subject to this Warrant and the Purchase Price of this
Warrant may not be amended, and the right to exercise this Warrant may not be
waived, without the written consent of the holder of this Warrant (it being
agreed that an amendment to or waiver under any of the provisions of Section 2
of this Warrant shall not be considered an amendment of the number of Warrant
Shares or the Purchase Price).  For purposes of this Warrant, the term
"Majority" in reference to the Registered Holders of Warrant Shares shall mean
the Registered Holders of Warrant Shares who, assuming the immediate exercise of
all of the outstanding Warrants for Common Stock, would hold in excess of fifty-
one percent (51%) of the Common Stock then issued or issuable pursuant to
Warrants that (i) are not held by the Company, an affiliate or officer thereof
or any of their respective affiliates, members of their family or persons acting
as their nominees or in conjunction therewith or (ii) have not been resold to
the public pursuant to a registration statement filed with the Securities and
Exchange Commission under the Securities Act.

     16.  Headings.  The headings in this Warrant are for purposes of reference
          --------                                                             
only and shall not limit or otherwise affect the meaning of any provision of
this Warrant.

     17.  Governing Law.  This Warrant will be governed by and construed in
          -------------                                                    
accordance with the laws of The Commonwealth of Massachusetts.

     18.  Integration.  This Warrant embodies the entire agreement and
          -----------                                                 
understanding between the parties hereto and supersedes all prior agreements and
understandings relating to the subject matter hereof.



                              SATCON TECHNOLOGY CORPORATION



                              By:    /s/   David B. Eisenhaure
                                 ------------------------------

                              Name:        David B. Eisenhaure
                                   ----------------------------

                              Title:       President
                                    ---------------------------

                                      -9-
<PAGE>
 
                                                                       EXHIBIT I
                                                                       ---------


                                 PURCHASE FORM
                                 -------------


To: SatCon Technology Corporation                           Dated:______________


     The undersigned, pursuant to the provisions set forth in the attached
Warrant (No. __), hereby irrevocably elects to purchase _____ shares of the
Common Stock covered by such Warrant.  The undersigned herewith makes payment of
$____________ in cash, representing the full purchase price for such shares at
the price per share provided for in such Warrant.



                              Signature:__________________________

                              Name:_______________________________

                              Address:____________________________

                                      ____________________________

<PAGE>
 
                                                                      EXHIBIT II
                                                                      ----------


                                ASSIGNMENT FORM
                                ---------------


     FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers all
of the rights of the undersigned under the attached Warrant (No. __) with
respect to the number of shares of Common Stock covered thereby set forth below,
unto:

Name of Assignee                 Address                   No. of Shares
----------------                 -------                   -------------



Dated:______________     Signature:_______________________________

Dated:______________     Witness:_________________________________