3 Tips on How To Manage My Photovoltaic Investment

3 Tips on How To Manage My Photovoltaic Investment

The year is coming to an end and for PV system operators begins a more difficult time, with little income. The meter of the PV systems is slowing down, the bills, receipts and documents are piling up and have to be put together for the financial statements of the tax accountant, dates for inspections must be made and it would also be time to think about whether the “too expensive” contracts of the various service providers could not be optimized.

You also have probably read that the interest rates have fallen even further and are annoyed by your financing rate, which is especially painful in the winter months: you have to do something.

Besides all this, even if this is just a PV investment that should actually work autonomously and on which you want to spend as little time as possible – there are so many things you need to know about it. If one PV system has successively turned into several PV systems over the years, the challenges will likely multiply.

Unfortunately, time is a limited resource for all of us, so we need to find the best way to manage it properly.

3 Ways To Manage My Photovoltaic Investment

Get decision-relevant information quickly

If decisions can be taken at individual plant or portfolio level, processed data is required. If these are not available, you could rely on your gut feeling and live with the hope that you are right, or you have to take the time to create relevant KPIs from raw data, various statements, contracts and data from the monitoring portals. For example, if you have a good command of Excel you can calculate the yield and fair value from the data mass on energy production, compensation and costs. These KPIs help you to evaluate your investments and compare them to other alternative investment opportunities. It would certainly be better to have benchmarking values ​​of comparable assets or portfolios.

The KPIs and benchmarking data mentioned help you to evaluate whether the investment meets your expectations and where there is potential for optimisation in terms of yield or costs, in order to be able to make decisions.

Our 1st tip
If you are registered by us, you have access to a free online solar asset management software. This makes it easy for you to get the return on equity and the fair value of your PV system or portfolio in real-time. Whether you simply connect your existing monitoring system with the asset management or import these values ​​”manually”, you receive a standardized cashflow statement and never lose track of the performance of your PV system or your portfolio.

 

2. Store all your documents and don’t miss any appointments

When you particularly need information about a PV system, you often do not have it at hands – it hides in any folder or stack of papers at home or at work. What happens when you are on the road and you need information urgently? When the tax consultant calls asking information about a contract, when the service partner needs details about guarantees, or when the insurance company requires the last maintenance report in case of damage? If you are determined to check either your insurance or your O&M contract termination date, or if you do not want to miss the next scheduled maintenance date, calendar entries allow you to pay attention to them.

An obvious way would be the filing of documents, contracts, etc. in one of the various cloud solutions, some of which are free or with increasing amounts of data and fee. Appointments can then be noted in addition in a digital calendar.

Our 2nd tip
If you are registered by us, you can access a free online document management system: the Solarganizer. It helps you store and manage all your documents, contracts and images, and is structured exactly to meet the needs of PV system operators. You have access to your data and documents online anytime, anywhere. A reminder function for your contracts ensures that you no longer miss any important appointments or deadlines. Of course, your data is protected and will be hosted exclusively in Germany.

 

3. Always get the right offers for your PV system

Whether you have one or several PV systems, it always takes time to look for comparison offers from service partners. Who can provide the service? Does this provider have time and the desired qualification? What is a fair price for such a service or contract? For simply researching information, getting offers, compare and evaluate them, you need time and nerves.

For the preparation of offers some service providers need a lot of information about your PV system. The compilation, sending and supplementation takes time again and costs a lot of nerves. Too often one resigns and does not change from his previous provider, not knowing that he could get better services at a better price in the market.

Our 3rd tip
As a Milk the Sun customer, you simply have the ability to request all essential services related to the operation, optimization or transaction of your PV system(s) online. In this way, the information required for the preparation of the quotation from your online asset management is used at your request to prepare an offer. You have access to our verified, professional partners network. All partners are specialized and certified in the field you need and offer competitive prices (often with special conditions for our customers). You’ll receive pre-approved, customized quotes with suggested dates in the shortest possible time.

Summary

There are a number of ways to manage and administrate your PV investment more effectively through individual action. As a Milk the Sun customer, we make it easy for you to evaluate your PV system(s), track performance and financial data, manage your documents online and monitor appointments, and access our professional services quickly and easily. And if you want to sell your PV system, you can get offers from qualified investors with just a couple of clicks through our online PV marketplace.

Best of all, you can get started right now and discover our solar asset management soltuion.