Lodestar Energy uses BluePoint to scale its portfolio and optimize O&M
Lodestar Energy is a solar development company operating in the Northeastern United States that develops, finances, owns, and manages solar assets long term. Their current portfolio is managed with BluePoint and consists of over 100 MW across 40 solar projects.
Asset Management Challenges
Lodestar Energy first realized the need for BluePoint as their solar portfolio and asset management team grew. As they added more projects across different regulatory programs, they quickly realized that Excel was not an adequate tool for scaling their business. Lodestar Energy wanted to avoid costly breakdowns and take preventative maintenance measures. They required a secure and central platform that could manage their administrative work, track regulatory requirements, and consolidate their monitoring system data.
“We make economic decisions about our solar assets based on a data-driven approach and BluePoint has allowed us to truly understand the value of our assets and the financial impact of each decision we make,” says Jaime A. Smith, co-founder of Lodestar Energy. “The product helps us daily to optimize our asset management creating a positive ROI.”
Solution: BluePoint
Lodestar Energy chose Power Factors’ BluePoint commercial asset management (CAM) software, a secure cloud-based solution, to address their asset management challenges. It gave them the tools needed to achieve their lean philosophy and maximize their return on investment. BluePoint helps Lodestar Energy scale their portfolio and optimize O&M. Using the platform’s flexible tools, the company is able to structure their data, performance monitoring, and maintenance planning to their needs, exposing the cost of their decisions and achieving better lifecycle tracking.
“Before BluePoint we didn’t treat communications outages as a huge deal. Our attitude was – we will get around to it next time a provider is on site. With Bluepoint, we understand the breadth of underlying issues that can be masked by communication outages and started taking action immediately. As a result of our prioritized response we’ve saved tens of thousands of dollars.”
Results
With BluePoint, Lodestar Energy has saved tens of thousands of dollars and several administrative hours per day. The software is used to manage day-to-day operations and make smarter economic decisions. Using BluePoint’s Performance module the company no longer has to wait for their monthly performance report to make data-driven decisions.
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