The table below calculates your annual soft costs from reporting and data management.
Soft costs are the costs associated with the time and effort to operate and manage solar deployment. In the first quarter of 2017, soft costs accounted for 68 percent of residential system costs, 59 percent for a commercial system, and 41 percent of a utility-scale system. Therefore, reducing soft costs poses great potential to increase profitability.
Soft costs & smart data management
Within soft costs, data management and analysis play a big role because solar facilities accumulate loads of data, but filtering through and making sense of these data pose a huge challenge, and managers waste a lot of time and resources to organize, process, and analyze those data to produce useful information and quality reports.
For this reason, efficient data management is receiving growing amount of attention in the solar industry. In its whitepaper, Solarplaza recognized that traditional ways of data management using Excel is error prone and disaggregated, meaning that lots of effort is required to generate insights and reports.
Automate data management
To increase profits, many solar operations already adopt intelligent data management systems. As your operations expand, management requirements such as O&M activities and reporting become more cumbersome and complex, and adopting intelligent AM generates more cost savings.
For instance, creating a monthly report can take 5 man-days per month but be done my asset management software at a few clicks. In fact, the cost of reporting can cost up to $718,000 per year for a large solar portfolio, and this creates compelling incentives to adopt automated management.
What’s your cost? Perhaps it is time to consider AM software
HAP is a smart asset management software that automates documentation and data management processes, saving you tens of thousands dollars on asset management.