Canadian Solar, known historically as a solar panel manufacturer – and more recently as a solar power developer and project owner via Recurrent Energy, is now launching an operations and maintenance services (O&M) arm.
The company’s experience in O&M started through the ownership of their own projects in Ontario, Canada – and from there it has moved on toward caring for third party asset owners as well. Currently, Canadian Solar operates 700 MW with another 1.2 GW contracted globally.
Canadian Solar guarantees a 99% uptime – with their average uptime running at around 99.5%.
The specific services being offered are:
- CSEye Site Monitoring
- Proprietary developed algorithms to analyze daily performance
- Potential problem discovery, outside of SCADA system
- Multi-department reporting of key parameters
- Daily financial statistics
- Maintenance, spare part, corrective measure reports
- Annual & Executive reports
- Preventative Maintenance
- Corrective Maintenance
- Warranty Management
- Space Part Management
With utility scale O&M services ranging from $8,000-17,000/year/MW, there is a large volume of revenue to be earned managing these assets for investment groups. Canadian Solar’s 1.9 GW in managed projects could bring in from $15-32 million each year for the company.
The potential market is much bigger. The roughly 400 GW of solar that is installed globally could potentially be worth $400 million/year in O&M revenue as the global average for O&M services settles closer to $10,000/year/MW.
Canadian Solar’s announcement was made this week at a solar asset O&M conference in San Francisco.