Open Energy, a commercial solar debt finance provider, has announced a partnership with kWh Analytics, a risk management software company. Open Energy says the partnership will allow its customers to view aggregated performance metrics across their asset portfolios while benchmarking this data against an entire network of projects.
“Data aggregation is crucial for standardizing solar loans and reducing perceived investor risk,” says Graham Smith, CEO of Open Energy. “We chose kWh Analytics because they are continuously innovating data solutions and are dedicated to standardizing data collection and analysis. Their technology-agnostic platform is forward thinking and intuitive, providing our customers and partners with an in-depth understanding of their investments.”
Open Energy says its commercial solar developers with projects financed through its online lending platform can now benchmark the actual weather-adjusted performance of their panels against projected performance, while also comparing their project performance with similar projects that use different panel or inverter manufacturers.
The benchmarking capabilities of the kWh Analytics platform will also allow clients to create a performance metric for single or multiple assets and benchmark deals against the entire network of projects in the system. The data collected through the platform will enhance Open Energy’s ability to determine future rankings and lending rates that are data-driven and accurate, the company adds.
“Open Energy shares our goal of increasing transparency and improving investment decision-making in the solar market,” says Richard Matsui, CEO at kWh Analytics. “We’re excited to support the commercial solar sector by providing reliable metrics on system performance. This will result in more accurate lending and ratings assumptions, thus increasing access to capital in the sector.”