Welcome to the #AssetManagementBites.
Every Monday we will be sharing with you one of the numerous recommendations, best practices and advises (“bites”) from the “Solar Asset Management Best Practice Guidelines Version 1.0”.
The document was developed by SolarPower Europe with the contribution of Alectris. The “Solar Asset Management Best Practice Guidelines Version 1.0” is a resourceful guide addressing the commercial and financial management of solar investments, balancing the risks, opportunities, costs, and performance benefits. The document aims to encourage asset managers to keep their services consistent and at the highest level.
Chapter 9: DATA MANAGEMENT AND HIGH-LEVEL MONITORING
9.1. Asset Management Platform functionalities
An Asset Management Platform is a software package or suite of tools that are used by the Asset Manager to store and manage technical and non-technical data and information collected from and relating to the solar asset, portfolio or SPV. It combines the abilities of a Computerised Maintenance Management System (CMMS) and an Enterprise Resource Planning System (ERP).
It is the Asset Management Platform that makes it possible for the solar industry to transition to an asset-centric, information-based management approach, which addresses three key challenges:
- loss of generation and income,
- loss of time,
- lack of transparency.
This is in contrast to the traditional linear Asset Management approach, where information flows from the asset through the O&M Contractor to the Asset Manager and ultimately to the Asset Owner. This linear approach means that the Asset Owner does not have direct access to data from the solar power plant and, rather, information is filtered before reaching the asset owner, creating a lack of transparency and mistrust between the three key stakeholders.
This section presents how Asset Management Platforms support the Asset Managers in their roles and responsibilities.