With renewable energy being the fastest-growing energy sector, it is no surprise that there is also a growing interest in renewable energy management.
Working in the field offers asset managers the chance to engage in a developing sector while positively impacting the environment.
Asset managers harness the dynamic nature of the field to yield positive financial results and drive the green movement forward.
Despite a global energy crisis, a record amount of growth was achieved in the renewable energy sector, which fuels continued interest from investors. With many now considering a career in renewable energy asset management, let’s discuss what it takes to succeed in the field.
Technical Prowess and Economic Reasoning
Even though renewable energy asset managers tend to specialize in a particular region or country, a growing number are diversifying their portfolios with assets in different time zones. It’s important to be able to see the big picture and analyze the impact of events around the world on the renewable energy market.
A diversity and breadth of knowledge will go a long way in succeeding as a renewable energy asset manager. Many asset managers have an educational background that includes training in business, finance, project management and environmental sciences and experience in the power industry.
Renewable energy asset managers should also have technical knowledge of different renewable technologies. It’s also important that renewable asset managers keep up with their learning and remain informed about environmental, social, and governance factors that can affect their analysis.
Strong Communication Skills
The ability to communicate clearly and convincingly is important for renewable energy managers. At times, asset managers will need to be able to explain poor performance to investors. A renewable energy asset manager with extensive knowledge of the field will be better prepared to handle these conversations and offer reassuring responses when speaking to investors and stakeholders.
Communicating objectives to team members clearly is also important and made easier when asset managers utilize a centralized database of information. With all the information at their fingertips, asset managers can encourage open dialogue for problem-solving during project planning and outlining phases.
Creativity and Critical Reasoning
These two attributes might seem like an unlikely pairing, but being able to take an out-of-the-box approach yields stronger outcomes when it comes to critical reasoning. Asset managers who are open-minded and consider a multitude of options discover new angles to solve problems.
Asset managers take in large quantities of information and need to be well-versed in pulling out the data required to provide a balanced analysis. In order to excel in macroeconomic reasoning, asset managers see the big picture, but sometimes, they need help.
With the proper software solutions in place, renewable energy asset managers can spend more time focused on the big picture and less on the tedious aspects of their role. With a strong software solution in place:
- Insights from data is at the forefront
- Communication and delegation is much easier
- Key documents are in a centralized database
- Sensitive financial documents are secure
- Issues are caught before causing major financial hardships
There’s no such thing as a one-size-fits-all software solution for businesses, but there are definitely commonalities to learn from. Technology should be built to empower your team, simplify and support your processes, and make information easier to access.
At PowerHub, we help asset managers succeed. If you want to chat about Development and Asset Management processes, you’re in the right place.
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