– Raptor Maps released its sixth edition of the “Global Solar Report” showcasing the underperformance of solar assets.
– Global revenue loss due to equipment-driven underperformance reached $4.6 billion last year.
– Data from 125 GW of PV systems show that sites above 100 MW have higher average power loss and financial burden, highlighting the need for technology to address challenges in the solar industry.
Raptor Maps has released the sixth edition of its “Global Solar Report,” revealing the significant underperformance of solar assets worldwide. The report indicates that equipment-driven underperformance led to $4.6 billion in revenue loss in the past year, with power loss due to anomalies increasing from 3.13% to 4.47% year-over-year. Data from 125 GW of PV systems at various solar sites was analyzed, highlighting the challenges faced by the rapidly growing solar industry.
As the solar industry continues to expand and aims to reach milestones like the 10 terawatt mark, technological solutions are essential to address performance issues and ensure the sustainability of solar investments. Raptor Maps CEO Nikhil Vadhavkar emphasizes the importance of technology in optimizing asset management and maximizing production to meet climate goals.
The report identified $177.7 million in preventable revenue loss for customers in 2023, with larger solar sites experiencing higher average power loss. Efforts to mitigate this financial impact and improve efficiency are crucial as solar becomes a key player in the clean energy transition. With advancements in robotics and AI, owners and operators can leverage digital twin technology to address labor challenges and enhance inspection processes for optimal power production. Raptor Maps’ new AI tool, Instant Inspections, offers faster and more accurate detection of thermal anomalies, benefiting commercial and industrial solar sites.