Alternative Online Lender Adds Data Aggregation Features to Platform
NEW YORK, May 24, 2016 /PRNewswire/ -- Open Energy, an innovative commercial solar debt finance provider, has announced a partnership with kWh Analytics, the leading risk management software for solar energy investments. The partnership will allow Open Energy 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," said 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."
Commercial solar developers with projects financed through Open Energy's 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 sophisticated 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 - providing investors with clear exposure to the attractive commercial solar market.
"Open Energy shares our goal of increasing transparency and improving investment decision-making in the solar market," said 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."
About Open Energy
Open Energy provides innovative financing solutions to support the growth of commercial and industrial solar energy infrastructure. Open Energy's financing approach, utilizing an online marketplace to direct investment, is based on a technology-driven underwriting process. For borrowers, Open Energy offers increased access to capital and a time- and cost-efficient loan application process. For institutional and accredited investors, the strict risk methodology offered through Open Energy's proprietary online platform delivers quality project secured debt with strong risk-adjusted returns. For more information about Open Energy and its debt financing solutions, please visit www.openenergygroup.com.
About kWh Analytics
kWh Analytics is the industry leader in risk management software for solar energy investments. Their flagship software product, HelioStats, manages project-level data from 70,000 solar power projects in the United States, creating the industry's largest independent database of solar asset performance. kWh Analytics strengthens the solar industry by increasing transparency, improving investment decision-making, and enabling efficient risk management. To learn more, please visit www.kwhanalytics.com.