Posts in Best Practice
10 Best Practices for Compliance Management

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.

Read More
3 Signs Your Asset Management Practices Have Outgrown Excel

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.

Read More
How to Automate your PPA Invoicing

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.

Read More
How to Know When Your Company Needs Asset Management Software

One of the most common questions we get at 3megawatt is: “When is it the right time to implement a software solution to take care of all areas of your asset portfolio?” The short answer is: “before it’s too late!” As vague as this sounds, there are a number of ways to avoid reaching a ‘disaster’ point that could impact on your asset management results.

Read More
How to optimize financial solar asset management

The sun is shining and your PV plant is producing lots of energy. The PV monitoring systems are doing a good job in measuring this energy in kilowatt hours. 

But how does the kilowatt hour make it to a billable dollar? And how does an asset manager track if the solar project's revenues match budgets and forecasts?

3megawatt's CEO Edmee Kelsey will address these questions during Solarplaza's Solar Asset Management conference in San Francisco on April 1st 2015. 

Read More
"Life of a solar project after the dust has settled" Part 2: Dealing with the monster consolidating excel spreadsheet

An important task of the solar asset manager is to monitor the overall performance of the generating asset. Often they have outsourced the live performance monitoring to a third party O&M provider. This O&M provider will typically send the PV asset manager monthly or weekly performance reports.

But PV asset managers increasingly want timely access to the performance data of their portfolio. And they want it at their fingertips. Sometimes they are frustrated with the time lag between actual generation and the outsourced reporting. But mostly they need timely data to produce their own internal management and financial reports.  

So what do PV asset managers do today to get timely access to consistent data across their entire portfolio? 

Read More
"The life of a solar project after the dust has settled" Part 1: Dealing with the Dropbox document jungle

The dust has settled. After a crazy whirlwind of activities, all the project documentation has been signed minutes before midnight. The solar project has been built despite all the roadblocks on the way. It is now operational and connected to the grid, just before any imposed deadlines. The sun is shining and PV plant is producing as planned and everything is fine. Time to relax and collect the cash flows for the next 20 or 25 years? 

Read More
Best PracticeEdmee Kelsey
Solar Asset Management - To outsource or not?

You have just acquired a portfolio of solar assets. You are wondering if you should outsource this to an independent solar asset management firm or manage the solar assets in-house.  With solar asset management we refer to the full scope of commercial and technical asset management, including the supervision of the O&M service provider. What are the considerations you should keep in mind?

During the Solar Media conference in Munich last week, Nick Boyle, CEO of Lightsource Renewable Energy, quoted 3 reasons for managing everything in-house:  1. Keeping control, 2. Not giving away margin and most importantly 3. gaining more commitment and ownership of any problems.

Does this mean that in-house is the better option? It depends.

Read More
5 tips for solar PPA invoicing

We often get asked if there is a smart methodology to do solar PPA invoicing. Most solar asset managers use a combination of Excel spreadsheets, PV monitoring systems and accounting systems to produce their solar PPA invoices. It works, but it is time consuming and prone to errors. We recommend the following tips to make your PPA invoicing easier for you....

Read More