Maximising RoI: How Asset Management is Transforming Solar Plant Performance in India

From 2.82 GW in 2014 to the current 107.85 GW, India’s solar footprint has grown exponentially in the past decade. Interestingly, with a contribution of 82.33 GW, this growth has primarily been driven by ground-mounted solar installations. However, to continue energy production over a typical lifespan of 25+ years, these large-scale solar plants need more than just initial investments. Asset management strategies are increasingly being adopted by such plants to optimise performance, guarantee dependability, and secure long-term returns.

Solar energy generation calls for a multi-decade commitment rather than a one-time investment. Thus, strategic planning is crucial to achieving substantial financial returns over time. For this, the entire spectrum of asset management costs incurred over the course of the plant’s life should be taken into consideration when estimating the budget. Cost-benefit analyses can be used to measure the financial benefits of particular behaviours.

In summary, prudent asset management by solar plants is an investment that yields several returns in the form of increased energy output and RoI, reduced malfunctions, and prolonged lifespans. Although efficient asset management in solar plants comes with certain initial and recurring costs (for equipment, systems, and manpower), these are negligible in comparison to the long-term financial gains.

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