A system and method in which production measurement for renewable energy is obtained in a storage-independent manner. Energy storage is separated out from the renewable generation to provide individual performance analytics. A monitoring unit uses device communication and metering to enable revenue-grade production measurement for renewable source and energy storage periodically at specified time intervals. The production measurement for the renewable source is obtained in a form that would be comparable to renewable installations without storage, for accurate billing, maintenance, and performance analytics. Additionally, multiple energy flows may be used by the monitoring unit to arrive at a storage efficiency value that can be attributed to the storage unit and how the storage unit is operated in the renewable energy system. The storage efficiency quantifies efficiency losses arising from the use of a storage unit to estimate the actual impact of storage and the charge controller algorithm on energy production.