Managing a renewable energy asset is a critical task, and it involves a lot of things than managing on-site activities. If you are responsible for managing solar assets, you know that you have to toggle between various tasks and coordinate with numerous stakeholders.
Using an advanced and efficient solar asset management tool can help you centralize data and manage tasks. In this way, you can save a significant amount of time.
In this post, we will talk about 10 leading solar asset management tools that are specifically designed to manage renewable energy businesses, including solar energy. These tools will make life easier for solar asset managers. Here is the list:
PowerHub Asset Management Software
PowerHub is a smart asset management software, which is designed for business and financial management.
This tool is customizable and flexible, and ideal for solar energy professionals to fulfill their requirements such as region-wise data collection.
PowerHub provides efficiency and insights for faster business growth by centralizing and connecting project information.
As an asset manager, you can easily configure the software to meet your business needs by gathering all the relevant information whenever you need it.
Key Features and Benefits
Automated Workflows and Reports: Automated workflows and reports will help you work more efficiently without having to waste time on data tracking.
Automated Invoicing: Invoicing is a crucial part of any business, and solar companies are no exception. PowerHub simplifies your invoicing process and ensures timely payment. Use the data gathered on the software to generate automated invoices.
Financial Management: Financial management includes budgeting, accounts, billing, and more. You can easily carry out your accounting tasks either on this tool as an alternative to your existing accounting platform.
Communications and Tracking: You can send, forward, and cc emails using PowerHub. You can also archive your communications for future reference.
Contract and Compliance Management: Using this software, meeting all the compliance requirements will be easy and timely. You can also check the compliance status of your projects, update procedures, set up processes for auditing, and reply to compliance notices.
Task and Event Management: Manage tasks and events using this software like your asset management assistant. It will help you and your team stay on track about the important tasks.
Managing Documentation: Find important documents using the software, then manage and collaborate with others by sharing with them.
Portfolio Management: The software enables you to manage your project portfolio by collating and consolidating project-related data, allocating resources, and doing risk management.
Operational KPI Tracking: When running a renewable energy project, you can track the key performance indicators (KPIs) via PowerHub. It is way easier to do all the performance tracking using the tool.
Work Orders: All the aspects of a project in PowerHub are interconnected. Due to this, it is easy to create/manage work orders, monitoring their status, assign to others, and communicating with team members.
Overall, PowerHub is a flexible tool that can help you do all kinds of tasks seamlessly related to asset management.
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ACTIS is one of the first solar ERPs in the world. It is a quality tool that helps optimizing Solar PV Performance. The manufacturer of this product is “Alectris.” The company specializes in delivering asset care innovation for the global solar industry.
This software does much more than the monitoring of daily energy generation. The tool also ensures the optimum performance of a solar plant through various parameters. ACTIS does real-time monitoring of over 70 parameters on individual solar assets in a solar portfolio, regardless of their location.
The purpose of developing ACTIS is for the following reasons:
- Consolidate data from various monitoring systems
- Standardize the data alert process
- Integrate with accounting software
- Customize/design existing and reports for finance and operations.
These benefits result in up to 77% improvement in solar project management and procedures.
Main Features of ACTIS
- Monitoring all types of devices such as inverters, trackers, UPS, feeder protectors, meters, strings, temperatures irradiation, and others
- Collecting data of vast parameters of the equipment operation along with their internal logs
- Monitoring the quality of the communication network
- Monitoring the security system
- Assessment through comparing data
- Dashboards with reflecting real-time information about the plant operation and portfolio
- Complete alerting along with the scope of configuration to even individual string level
- Availability of more than 35 different customizable charts to analyze technical and financial data.
- Taking corrective steps via remote diagnosis of any glitch or malfunction and constant alerting
- Evaluating incident impact and making a cross-comparison by continuous data recording and analysis
- Improving via root cause analysis
- Around-the-clock tracking and monitoring of the plant operational data and supervising all equipment and security systems
- Integrating all the charts and reports.
So, if you need to optimize solar PV Performance and do complete solar asset management, ACTIS is the go-to tool for that purpose.
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Drive (by Power Factors)
Drive software has been designed to bridge the gap between critical areas such as operations, technology, and people.
Power Factors created this cloud-based software, which provides owners and operators of solar power facilities complete insight into real-time asset performance. With this function, they can manage applications efficiently to maximize the performance of solar assets.
Drive is a platform that helps to scale up to thousands of connected facilities. It helps solar facilities owners reduce the levelized cost of energy (LCOE). The range of benefits that the software provides are below:
- Drive helps in real-time operations and analyze historical performance, root-cause, downtime, and remote technical asset management.
- The software curates and structures raw data hardware or third-party data systems to make sure that the data is reliable for visual and analytical applications.
- Drive is useful for setting user-defined criteria to identify operational events that affect production. Subsequently, users can curate, edit, and catalogue the data for notifying, troubleshooting, and reporting.
Drive has an asset-centric maintenance management system that connects operational events, compliance/contractual obligations, and maintenance history. Also, with the fully integrated data and event engines, operators can manage:
- Planning and scheduling
- Dispatching work orders
- Managing reports, KPIs, and dashboards
- Storerooms, inventory management, and spare parts
- Meeting contractual compliance
Also, the automated workflow and failure categorization feature of Drive helps increase asset life and productivity.
Solar-Log™ offers to products, which are Solar-Log Base and Solar-Log WEB Enerest™ with the purpose of PV monitoring, smart energy, and feed-in management.
Benefits of Solar-Log Base
- Easy to Install: The Solar-Log Base is a compact device and easy to install. Handling is even easier. The job of connecting to individual modules is done via an integrated bus system.
- Innovative direct marketing solutions: Earlier, to transmit data to the direct marketer, an external router was needed. Later, it became possible to make VPN data transfer without any additional hardware. This integration saves the cost of hardware as well as the installation.
- Installation License: Using the Solar-Log Base devices, it is easy to activate the required licenses free-of-charge during the installation for 30 days. During this period, you can purchase licenses from the License Shop and register remotely.
- Optimized Price: Price optimization is a benefit that you can get using the Solar-Log Base regarding various software licenses. The licenses and interface elements can be purchased as and when required.
- Easy Modular Design: The easy modular design of the Solar-Log Base offers complete flexibility. It is possible to select each function for each PV plant depending on the requirements.
- Smart Energy: Another key benefit of this device is the customized optimization of self-consumption. Through smart interaction with all components in your solar plant, you can achieve higher security and greater return on investment.
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Solar-Log WEB Enerest™ – Online Portal
Benefits of Solar-Log WEB Enerest™
- High-level Performance to Analyze Errors: Solar-Log WEB Enerest™ has a smart real-time compilation feature to collate relevant individual plant information for analyzing errors. Tools for collecting data include plant processes, component configuration, daily values, and a “heat map.” This enables quicker and easier troubleshooting and ensures the seamless operation of the plant.
- Easy Administration: By using Solar-Log WEB Enerest™, you can assign a user with individual rights to every solar plant through the User and Plant Management section. It is also possible to assign individual plants to a user group. By clicking on a plant, you can view displays of its properties at a glance.
- Improved Task List: The portal will help you categorize tasks based on their status. Red refers to open tasks, yellow is for tasks that are in-progress, and green indicates completed tasks.
Both Solar-Log Base and Solar-Log WEB Enerest™ have low investment and installation costs. The tools enable the consumption of self-produced solar power, which eliminates the need to buy expensive power from the grid.
3megawatt is another well-known solar asset management tool that offers a secure cloud-based solution for managing central data in all stages of the renewable energy life cycle.
Key Features and Benefits
Plant and Portfolio Management: You can see all the data related to plant or portfolio level data from a centralized source. This is why you will always have a clear tracking of your assets.
Streamlining of Reports: Using the central data and the drag-and-drop report editor, you can easily streamline your reports.
Contracts and Compliance: You will be able to manage your contracts and fix schedules for meeting compliance requirements.
Centralized Performance Monitoring: Check the data of one or more plants to see their performance using the data sources.
Automation of Tasks and Work Orders: Create tasks and reduce downtime. Through automation, the tool will help you save time and lower risk.
Automated Invoicing: Create paperless invoicing using the automated invoice feature. In this way, all of your invoicing data will be at your fingertips. On top of it, invoices will be accurate.
Easy to Scale a Team’s Capacity: The tool has user analytics, advanced access control settings, audit logs, and multi-language platform to scale up the capacity of a team.
Centralized Financial Management: You can get all the financial solutions such as financial statements and KPIs on a single platform.
3megawatt software can surely help you scale your renewable energy portfolio.
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ENACT is a software that provides a single platform for managing solar projects, including design, financing, and installation. The primary customers of this software are large enterprises in retail, logistics, hospitality, and industrial sectors that seek solar deployment across their portfolio.
Benefits of ENACT SYSTEMS
Design & Engineering: ENACT provides a platform to analyze any residential or commercial solar plant site remotely.
You can use remote visual design and drone imaging systems to reduce the inspection time for your project. Also, due to an increase in efficiency, you can create faster proposals reducing sales cycles, overall installation time, and cost of the inspection.
Feasibility Analysis: You can carry out a feasibility analysis to decide if solar is the right choice for you. By using your location and electricity bill, the software can help you analyze if solar is cost-effective for you. Also, using the system, you can do designing, size Optimization, and rate analysis.
Installation Management: With the help of ENACT, solar solution providers will find it easy to manage the installation process. You can manage your team’s workflow, third-party vendors, and the progress of a project with a few clicks.
Finance Management: You can do complete finance management for your solar project. The software will help calculate your investment and ROI before installation or tax benefits after installation.
Portfolio Management: ENACT helps you get consolidated portfolio management of your project. You can easily track installation progress, system performance, documents, and reporting for various projects.
HAP is a useful software for consolidating and automating commercial, financial, and technical asset management into a centralized platform.
The centralized financial data repository and an integrated monitoring dashboard ensure the smooth management of your portfolio.
Benefits of using HAP
Managing Operations: You can smartly manage your work with HAP’s portfolio management feature. Managing documents compliance obligations, tracking tasks, and work orders have never been easier.
Financial Management: Get automated invoices, manage your contracts, profit & loss, budgets, cash flow, all in a single platform by syncing with your accounting software.
Performance Monitoring: Monitor all your solar assets, channels, and devices with the performance dashboard that has an asset registry, KPI modules, multidimensional charts, and alarms.
Report Generation: Generate advanced reports financial and technical performance of all your assets in your portfolio. Make use of the report writer to create your reports.
Using the HAP tool, you can focus on improving and streamlining internal operations in the renewable space.
PredictEnergy® is a cloud-based energy management software that helps in integrating real-time energy data with the facility production metrics.
Energy Monitoring: The software enables us to do energy monitoring. Effective energy monitoring consists of identifying peak demand; single/multiple metering with logical and physical meters; Key-Value Pair (KVP) energy reporting and demand per unit time; and user administration.
Power Quality: Power quality refers to the quality of the power that is supplied to a local utility. Electrical devices need a certain level of voltage, power quality, frequency, and stability for consistent energy supply. PredictEnergy® makes sure to meet all of these parameters.
Managing Energy Assets: You can manage your energy assets through a systematic process of profiling and evaluating assets to achieve the highest system performance. Also, with the help of this software, you can reduce the maintenance cost.
Energy Analytics: Through the energy analytics feature, you can:
- Manage all your energy assets
- Measure power and energy against your business and tariff
- Carry out evaluation of real-time energy, demand cost, and forecasting
- Analyze unit production energy cost along with comparisons
- Analyze the actual energy costs of production equipment
- Control the energy costs of the unit level of your business.
Using PredictEnergy®, you can also track the return on your energy investments and significantly reduce your operational costs.
Ra Power Management (RPM) cloud-based software platform
RPM software will enable you to calculate valuations, make forecasts on cash flow, manage and allocate funds, generate customized reports and analytics, and more.
Key Benefits of Ra Power Management (RPM)
- Automating all the manual tasks
- Improving transparency of the project portfolio
- Reducing the costs of asset management
- Meeting all the compliance obligations
- Saving time and minimizing risk.
Forecasting and Modelling: The tool will help you predict projections of seasonal kWh, valuation of assets/funds, forecast cash flow, and manage/structure asset trances.
Real-time Results: Get a real-time display of important information, do value assessment, identify risks, and review compliance requirements.
Asset & Investment Management: Have clear visibility of investments, fund deployment, capital, and covenant compliance.
Reporting & Analytics: Develop and manage various reports and metrics for analyzing the production, evaluating financial performance, calculating the residual value, and analyzing the stress test scenario.
Using this tool, you can streamline financial operations and can focus more on efficiently running your business.
LENS™ proprietary cloud-based technology platform
LENS™ is a software made by RadianGEN. It is a cloud-based platform that has been designed to deliver the best practices of the solar industry to your assets.
By using this software, you can do comprehensive management of your renewable energy assets to deliver optimum results for owners, investors, owners, and developers.
Key Features of LENS™
- Monitoring: You can view your asset performance and identify major trends through automated data monitoring and data quality measures.
- Asset Registry: All of your records related to project or portfolio are maintained in a cloud-based centralized repository.
- Contract Compliance: You can track all the contractual and regulatory terms with the help of programmed alerts to ensure compliance.
- Reporting: You can get detailed reports and metrics, make a comparison between forecasts and actual production.
Benefits of LENS™
- Get clear insights into your portfolio and optimize your assets
- Reduce contractual and regulatory and compliance risk
- Implement the industry-specific best practices related to asset management.
So, by using LENS™ software, you can improve and manage the performance of your renewable assets.
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As the solar industry is constantly evolving, managing solar assets has become a complex process. Businesses need to make the necessary adjustments to keep up with the changing market conditions to take advantage of growth opportunities. This is why businesses require some advanced tools for effective asset management.
The listed solar asset management tools are tailor-made for solar asset managers to efficiently manage their work and optimize the assets’ financial performance. Additionally, these tools will ensure that you meet all the compliance requirements of the industry.
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Since the early days, Sumit has been deeply concerning for the climate crisis and always felt hurt seeing how the human intervention is disrupting the ecological balance. He 100% believes that solar energy is the missing puzzle to our energy transition, and we have to go all out to implement this energy solution all over the world. If you want to publish your articles on SolarFeeds Magazine, click here.