The service of solar asset management essentially means controlling and managing all the assets involved in the solar industry like a solar power PV plant or solar projects or panels. The main task of buying a solar asset or a solar project is a lot more than just owning the solar assets or solar panels. Managing an asset is equally, if not even more challenging than ownership. To carry out such a job, an energy company must hire someone for solar management i.e. a solar asset manager.

The good news is we have listed down everything that there is to know about Solar PV asset project and management.

Cutting to the chase, the aim of the investors of these solar power assets is to achieve maximum return on their investment and avoid any risks in the process of the solar PV energy power project while managing a diverse utility-scale. The service of solar asset managers also includes monitoring the real-time and estimated long-term power or energy generation of solar projects using any asset management platform. Their services also involve monitoring the financial and operational performance of the solar project like energy monitoring that involves maximizing energy storage or ensuring lasting energy productivity performance of the systems with diverse utility-scale. 

While solar asset management is a multi-dimensional field, its focus is on the owner and their interests. Because of this, the solar asset manager is also called Owners Representative. The service providers majorly include management and administration of the contracts that the solar asset company has signed. It involves monitoring of the financial matters concerning the assets as well as fund management and reporting of investment and the overall performance of the energy plants. 

Operations and maintenance(O&M) and Asset Management are quite different yet interconnected terms used in the solar industry, often proving to be confusing for first-time owners of the solar system. The good news is that both fields exist to serve the same purpose - to ensure that a solar asset continues to exist in a strong state. Operations and maintenance tend to exist in a more tactile manner, where workers take action to ensure effective maintenance of assets for the longevity of their life cycle. Additionally, solar asset management takes on a much more widespread approach. It also deals with certain contractual obligations of the solar company as well as deals with maintenance of outside relationships and solar energy portfolio management. 

Solar asset management helps investors to efficiently manage all the matters concerning their solar assets. This is very important as investors who aim to achieve maximum return on investment want to avoid any risks that might arise if the agreements or contracts are not carefully managed or data storage is not effectively done in the systems, taking care of the privacy policy. In a nutshell, by investing in good solar asset management, you can be free from any financial or legal matters in the systems, taking care of the owner's rights reserved. Moreover, in order to enhance the growth of utility-scale solar, one can generate clean power at low prices. Utility-scale solar also minimizes environmental damage.

An efficient solar manager has the responsibility of managing investments in renewable energy assets on the grid. He/She must also carry out dealings with the internal and external stakeholders who are related to the portfolio management and operation of the solar assets involved. He/She must also keep an eye on the technical metrics to increase asset performance while making the whole process and system cost-effective to the business. 

A Solar Asset Manager also has to guarantee that the solar power and energy plant is operating according to the rules, regulations, and laws of the area. 

A Solar Asset Manager also has the responsibility to gather and collect information, data, or financial documents about the assets owned by the investor in projects by using the software. A proper system of data management allows for a smooth working life of an asset. It also helps the investors to further make data-based decisions as they are a lot more effective to make full use of the asset, especially if it is done by using the software. You can contact us to know how we manage our data!

It is no doubt that the job of an asset manager is highly linked to the design process of a site in addition to using appropriate software. He/She must also be on the same page as other team members when it comes to how a site is laid out or designed to achieve smart renewable energy. He/She is also supposed to manage the design process as well as make it as efficient as possible to present to the solar system asset's owner. He/She also carries out all these tasks with the help and assistance of his/her fellow team members.

Asset management is an important task and a challenging one too. So, it is important that the cloud-based software tools you use for this are the most efficient in managing the data and for the renewable energy sector in 2020. The good news is that we did our research and there is much cloud-based software available to help you achieve that, PowerHub Asset Management Software and ACTIS to name a few that are unique in their services. However, software that can compare data and monitor different types of devices like UPS, trackers, inverters, or strings will save a lot of time. You can contact us to know what software we use!

Technical asset management, commonly known as TAM, includes providing assistance to the owner concerning the regular operations of the solar plant or the solar portfolio. A good technical manager will forecast the needs of the owner's solar asset creating for its operations. TAM also includes holistic management of multiple factors in the process, such as taking care of the needs of other stakeholders like suppliers, lenders, or advisors. 

Financial Asset Management refers to recording, tracking, and reporting of the investment and its performance in real-time. The asset managers also refer to the management of the finances of renewable energy. It also includes keeping a record of investor reporting and fund management.

Our team at SunbaseData is well equipped to enhance your bottom line with our service providers for your solar energy power project, be it a residential solar plant or commercial industrial plant. Feel free to contact us or visit our website. You can also find additional information like our privacy policy on our website. We can get started with just your name, email, or any other information necessary!