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| Fri, 17th Apr 2020 16:54:00 |
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Now is the time for the solar industry to capitalize on the benefits of sophisticated software platforms |
Amid the current disruption impacting renewable energy markets worldwide, solar power is proving to be a robust energy source. In China earlier this year, solar was the only form of energy generation that saw an increase in production from the previous year – rising by 12%. In this context, it's becoming more important now than ever before for solar asset owners to recognize and take advantage of specialized solar software which can help mitigate business disruption in unexpected events and optimize long-term returns.
The advent of digital technologies has opened up an unprecedented number of opportunities for the renewable energy industry, with asset owners now able to take advantage of sophisticated platforms that can integrate asset management and Enterprise Resource Planning (ERP) functionalities, automate business processes and provide advanced performance monitoring.
Despite this, the solar sector is still in its infancy when it comes to digitalization and has yet to capitalize on specialized software's ability to both minimize business disruption during uncertain events, and tackle the perpetual challenges of data quality, data centralization and increasing project complexity.
As a result, many solar portfolios are still installed with legacy operations and maintenance (O&M) platforms, which offer relatively limited functionality. Asset owners who integrate software solutions capable of combining ERP and asset management software on the other hand can aggregate multiple functionalities into one platform. In this way, businesses can reduce complexity across monitoring, financial and operational data sets, as projects scale both technologically and geographically.
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