How Asset Management is Increasing the Capability of the Solar Plants
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How Asset Management is Increasing the Capability of the Solar Plants

By Energy CIO Insights | Wednesday, July 08, 2020

Asset management organizations are utilizing technologies so that they can manage solar power plants and monitor the performance.

FREMONT, CA: With the increase in pollution level leading to global warming, demand for an alternate source of clean energy is on the rise. Solar power is a significant source of clean and renewable energy for electricity and transportation. Developing and developed economies are installing solar PV plants to generate solar power and reduce greenhouse gas emissions. However, the mere installation of a solar PV plant is not enough for the sustainable growth of the solar power sector. Optimization of cost and performance of the solar plants demand a high degree of asset management.

Asset management organizations are involved in managing solar plants and monitoring their performance. They add substantial value to the solar sector by reducing production volatility and increasing operational stability. The organizations also offer technical asset management to solar plants. Technical asset management is involved in the day to day operations of the plant.

Top 10 Asset Management Consulting/Services Companies - 2019Technologies and process monitoring services provided by technical asset management service contractors:

Monitoring

Technical asset management is involved in tracking the operational data of the solar plants and storing them. The demand for analytics software in growing substantially in data monitoring and data storage. Investment in big data technology is also on the rise for securely storing the data collected during the monitoring processes. The data stored in not only restricted to day-to-day operations but also includes corporate governance and policy changes and their impact on productivity.

Reporting and communication

Data collected are used to render actionable insights. Performance enhancement solutions and risk control software are used to analyze and negate the plant's technological and process-related risk. Stakeholders are also communicated with the help of communications tools to keep them updated with the local and national regulatory guidelines and contract management. 

Optimization

Technical asset management solutions offer cost and process optimizations by reducing loss in production, improving efficiency, and data transparency. Besides, optimization software used by the asset management organizations is also used to monitor the amount of energy used in power generation and efficient transmittance of the generated power.

See also: Top Solar Energy Technology Services Companies

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