Among all the ways one can track energy assets over time, reports figure as those documents that help several stakeholders to control critical parameters over time. Despite dashboards and monitoring systems that are useful for day to day operations, reports are usually handled each month, quarter or even year.
The content of these reports vary according to the people they are addressed to:
- Operating reports are those reports that are generated for department level evaluation and budgeting;
- Executive reports usually include the high level valuation of the whole portfolio of activities and assets;
- Customer reports are usually addressed to the owners or the managers of the power plants and include figures regarding the technical and financial performance of the portfolio.
According to the scope of work, the document should allow to keep track of different KPI’s. The following table lists the 15 most common KPI’s for tracking renewable energy assets.
Mean Time Between Failures
This is the predicted elapsed time between inherent failures of the system, during normal system operation. It should not be used as a prediction to when the parts will fail.
DC / AC Ratio
This KPI allows to have a look at the loss of energy from converting current through the inverter.
Inverter Clipping Ratio
It shows the times inverters clipped to keep the production within maximum AC output limits. Useful when compared to DC / AC Ratio
Uptime per Inverter
It’s a measure of how well the inverter is working over time. It greatly affects the Plant Availability.
Mean Time To Repair
Average time it takes for repair to be completed.
TT – Ticket Types %
In an O&M or asset management companies, tickets can be many. This measure helps keeping control over issues in each period.
PA – Plant Availability
This KPI is calculated as a percentage and represents the time that the power plant is available to provide energy to the grid.
Variance between expected kWh and actual kWh
It allows not only to enhance the predictive algorithms, but also to identify incorrect data or lead to other problems such as weather or hardware.
Measurement of solar energy in watt per square meter. It is necessary to calculate Performance Ratio.
PR indicates the amount of solar energy captured by plants out of the total available energy at site.
It is a measure of energy actually generated Vs. the maximum possible output under ideal conditions. It is affected by the weather.
Specific Yield (kWh/kWp)
It is the energy generated each year per nominal capacity of the plant installed.
Return on Investment
ROI is the ratio of a project’s estimated earnings to its initial investment.
Net Present Value
It represents the value off all the project’s estimated future earnings in today’s money.
Internal Rate of Return
The IRR tells you how much you are earning on the investment annually.
How many of these KPIs you have to show in your reports, depends on the stakeholders and what needs they have.
This is the one of a series of articles, where we take a look at how energy companies can boost their performances through digital energy. In this series we will discuss: