At PowerHub, we’ve recently been discussing where your ‘assets’ should be in the whole asset management process. An asset centric approach, as we call it, really puts the spotlight on optimizing solar plants.
Here’s How Solar Asset Management Services are Different from O&M
- Nature and scope of activities
Where solar asset management services involve a general supervision of how a project is faring, O&M is a tad more technical. For instance, the O&M team is heavily involved in finding and resolving issues with equipment, remote plant controls, grid operations, and preventive maintenance.
On the other hand, solar asset managers are charged with responsibilities like KPI performance reporting, land lease payments and renewals, warranty administration, and managing power purchase agreements.
As mentioned above, there’s definitely an overlap between these activities, but some semblance of order keeps both teams on the right tracks to achieve short- and long-term goals.
- Chain of command, authority, and reporting
Traditionally speaking, O&M teams report to solar asset managers. Their responsibilities feed into the central hub of information that managers collect as part of commercial and technical solar asset management.
Once they have all performance and operations data for projects and portfolios, the solar asset management services team then reports to the asset owner. Therefore, it wouldn’t be incorrect to say that energy asset managers act on behalf of the owners in every decision they make.
While there are instances when this chain of authority and command is flatter, organizing these services in this manner makes logical sense. Without the data input from O&M teams, a solar asset manager’s analysis is incomplete. Therefore, they are incharge of overseeing O&M schedules and activities.
The Future of Solar Asset Management Services and O&M
Looking into a future where specialized renewable energy management services are in demand; we’d say the real question to ponder upon will be the role O&M plays within solar asset management.
For one, both services need to be given equal importance. While O&M makes sure of technically soundness, dedicated solar asset management services help increase asset value with proactive performance analyses.
Therefore, the discussion will boil down to optimizing energy project planning. From developing solar sites and generating power, to implementing efficient maintenance strategies. Solar O&M’s role should be crucial within the broader asset management services umbrella.
As a solar asset owner, developer, executive or manager – how do you make sure you meet these goals of power optimization? By digitalizing your management style with an asset-centric approach. We’d say let’s put this up on your new year’s resolution. Shall we?