The warranty management module within Renewance ConnectTM enables quicker and better claim resolution through claim digitization, warranty flow automation, and streamlining analysis, disposition and fulfillment.
Warranty Management
Managing Warranties Between Asset Owners and Warranty Providers
Effective Warranty Management Is Challenging
Batteries are consumable assets that are sensitive to usage and ambient conditions. Warranties provided by the industrial batteries’ OEM may contain stringent terms which, if not complied with, can essentially void the warranty. Considering that most projects are financed by a third party, this situation poses a significant risk to an investment scheduled to be paid off in 10 to 20 years.
Effective battery warranty management is a key challenge for asset owners and operators. Renewance has experience in managing industrial battery warranties and is uniquely positioned to help manage the warranty between the asset owner and the warranty provider, who is generally the OEM, system integrator, or the engineering, procurement and construction (EPC) contractor. Our software and execution expertise streamline the process and automates battery warranty data submission, analysis, disposition and fulfillment, all of which can be extremely complex.
Common Warranty Management Needs
- Unfulfilled warranty claims represent wasted value through missed vendor recovery.
- Multiple parties in the energy storage system (ESS) value chain with disparate warranties make warranty management time-consuming and inefficient to navigate.
- Contract terms and conditions vary by project, making it difficult to ensure that all obligations are met.
- Warranty metrics are not readily available, making measuring potential margin erosion cumbersome.
Renewance Warranty Management Solution
By establishing close engagement and interfacing with key battery and other ESS component OEMs, claim digitization, and warranty flow automation, Renewance accelerates warranty submission and fulfillment throughout the life cycle, from commissioning through battery degradation and waste battery management. All this is done via the highest levels of regulatory compliance and through best-in-class recycling and repurposing technologies.
Contractual and actual battery system usage can make warranty claim management difficult. Efficient warranty management requires having data and terms managed in ways that ensure successful disposition. Renewance products and services help address these challenges for a range of battery types and numerous applications through our unique position in the industry. We offer:
- Single source for managing battery warranties throughout the life cycle
- Fully automated process that facilitates interactions among all parties and reduces overall cycle time
- Auto-validity check of submitted claims to ensure only valid claims are submitted
- Full suite of key warranty metrics
Warranty claims can be programmed during the commercial or startup phase of a project. Battery asset owners can make claims to warranty owners throughout the project life cycle; both parties can interact on related claims, capturing time-based interactions.