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.
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.
There are a lot of questions about the difference between a monitoring system and renewable asset management software. Specifically, if it provides similar functionalities as a monitoring system and when to start using asset management software. This article walks you through the differences, similarities, and how you can use these two platforms together.
The Orange Button Initiative was started recently to drive down the cost of distributed solar energy finance and facilitate data interchange. 3megawatt was invited to talk about our relationship to Orange Button, where North America’s lead customer manager Brendan Cook discussed “How automated data interchange can help reduce the effort of monthly reporting.”
Excel is an incredibly useful tool and we may never move away from it entirely but it is important to recognize when your asset management practices have outgrown spreadsheets. It is time to move on… It will be hard to let go of those handcrafted spreadsheets that have become so routine but unfortunately they are not conducive to a complex portfolio and ultimately the growth of your company.
It is about that time - you must start processing your PPAs again it is an inevitable part of renewable energy management. Although a simple and routine task someone must do it. As an asset manager you might even look forward to the busy work, for once, you get to sit down with a cup of coffee. The problem is the endless amount of tasks keep piling up. Learn how easy it is to set up your automated invoicing system and even go paperless! It is a lot easier than it sounds.
The GDPR (General Data Protection Regulation) is a new regulation that will affect the EU. It is the most significant piece of European data protection legislation to be introduced in 20 years and it will come in force May 25th. Your privacy is very important to us! Accordingly, we have developed this policy in order for you to understand how we collect, use, communicate, disclose, and make use of personal information.
Listen to a new episode by Suncast that discusses how software might help companies grow in the renewables industry. This episode features Edmee Kelsey the founder and CEO of 3megawatt where she shares industry insights, market development, and professional growth.
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 section will help you pull the trigger.