Solar Speaks Live - What are recent trends in solar asset management?
Edmee Kelsey, CEO of solar asset management company 3megawatt, talks with Solar Power World editor Kelly Pickerel about the latest trends in asset management and why solar project owners would benefit from partnering with a knowledgeable company.
The role of the asset manager is to have good relationships with all the vendors and subcontractors that are involved in a solar project. They will generally oversee that the plant is maintained as per the projet contract with the subcontractor and intervene if there is a problem. They are ultimately responsible for ensuring that the investors get their investment back plus the returns that they are expecting.
One of the challenges that asset managers face today is that the project documentation is getting more and more complex. This means that it is harder to keep up with compliance under the contracts. In addition the billing function is becoming a lot more time consuming. Whereas electricity generated has been compensated by feed-in-tariffs with fixed rates in many markets, the electricity generated today is sold under more complex PPAs, which require a more solid billing function. As the market is getting more mature, the financing structures are getting more complex and the lenders more demanding. This means that the solar asset manager has a lot of additional work on his plate. But interesting work, as long as some of the repetitive tasks can be automated.
3megawatt has been named as a finalist for the Digital Energy Innovation Award 2018. The award recognizes and rewards the best startups that provide unique solutions to shape the digital energy transition.
The award is hosted by the Fraunhofer Institute, the leading organization for applied research in Europe. The finalists will present their digital energy products and solutions during the Innovation Forum. The startups operate in various digitalization areas such as artificial intelligence, predictive analytics, robotics, cloud computing, platforms and blockchain.
The SPVs or project companies that own the operational solar assets will enter into multiple contracts. It can be difficult to manage all associated documents and compliance obligations. Learn how these 3 easy steps can help you stay successful in managing your solar contracts.
If you haven’t already automated your asset management process, you may be wasting incredible amounts of administrative time. Time costs business money too which means your spending more money than you need to on processes that aren’t automated.
An asset manager wears many hats every day. With such diverse responsibilities, it pays off to organize and automate routine tasks. We see that employees can often handle twice as many projects with the software supporting them. So no need for finding qualified new hires to support your growth.
The responsibilities of asset management go further than monitoring and maintaining the physical asset alone. Asset management includes accounting, cash management, regulatory, contract compliance, investor and bank reporting. With increased pressure on driving down costs, optimizing each of these aspects is becoming increasingly more important.
3megawatt announces a major upgrade to BluePoint, the market leading software solution for solar and wind asset management with 25GW managed in 35 countries. 3megawatt will be demonstrating BluePoint 5 at Solar Power International in Anaheim and Wind Energy Hamburg.
Although renewable energy asset management software has many benefits, it’s not necessarily a required tool for every company. So if you’re still wondering whether or not it would be worth the investment for you, this article will help you make the decision.
Solar and Wind asset managers have growing responsibilities as the renewable energy industry matures. We’ve outlined how asset management can be defined and some tips for emerging markets like Latin America.
Compliance obligations are designed to keep your wind and solar projects on track. Setting up an accountable process for your tasks is a top priority for successful companies. These 10 steps will guide you through compliance management best practices that we want to share from working closely with a diverse set of asset management professionals.
A community solar project provides a unique model to distribute renewable energy with the cooperation of community organizers, public offices, and energy providers to benefit from a new way to drive solar energy projects. Learn some tips for managing the complexities of your community solar project.