Study of key asset life cycle indicators in photovoltaic power generation

Managing the Asset Life Cycle of photovoltaic systems is perhaps one of the most interesting topics in renewable energy today. In the current context, solar photovoltaic energy prices tend to decrease while installed capacity is increasing rapidly, with a projection of over 760,000 GW by 2025.

At PMM Innovation Group, based on our international consulting experience in Asset Management with PMM CIEx, in solar energy projects, we have observed that this technology is in a process of consolidation and expansion. Thanks to its simple maintenance, a Benchmarking of key maintenance indicators for photovoltaic systems becomes relevant to ensure reliability and risk management, adding value to the business and providing useful information for the sustainability of long-term operating costs. Therefore, the knowledge and application of key performance indicators (KPIs) throughout the life cycle of photovoltaic assets must be encouraged and ensured to achieve a notable advantage on the path to operational excellence in this type of industry. These KPIs can be designed by the organization, but we also find references from successful photovoltaic system companies, which will allow the organization to compare its own practices and processes with those best practices.

This research studies the different indicators that may be present in the asset life cycle of photovoltaic systems to analyze existing best practices and, subsequently, propose and recommend improvements aimed at optimizing asset management in this photovoltaic energy sector, all combined with growth data.

Below is the result of the diagnosis of the current landscape to highlight: a) Criteria for defining and utilizing KPIs; b) Basic maturity level through the verification of the use of a significant group of KPIs key to asset management, such as economic, technical, organizational, and sustainability indicators; and c) A sample in  Asset Management Benchmarking of some key indicators in the solar energy sector.

This research was achieved through consultation with experts, comparative analysis of the state of the art, and supported by specialist surveys, with a highly representative sample of actors from the photovoltaic power generation sector in various countries.

It is concluded that the use of a significant group of indicators can open a collaborative space to investigate and recognize best practices in the solar energy industry for the success of an asset management strategy and business sustainability.