The lack of performance data from enterprises can lead to incomplete evaluation by financing institutions. This, in turn, leads to limited capital being unlocked for off-grid enterprises. To overcome these challenges, this report analyses the gaps in evaluating and monitoring performance, and also presents a comprehensive tool for a Monitoring & Evaluation (M&E) framework for the off-grid sector. The tool, titled Decentralized Renewable Energy Evaluation and Monitoring Tool (DREEM) provides a holistic evaluation of DRE enterprises. It is relevant for DRE enterprises as a self-evaluation tool as well as for financial institutions to assess the performance of DRE enterprises for capital infusion.