2023 Global Report Finds Dramatic and Progressive Rise in Power Loss at Solar Assets
Trend responsible for tens of millions of dollars in lost revenue annually
Boston, MA, February 27, 2023 — Raptor Maps, the leading provider of solar lifecycle management software, published the fifth edition of its Global Solar Report, with data that strikingly illustrates the underperformance of solar assets. The findings are of critical importance as the solar industry experiences unprecedented growth.
The report finds that the amount of power loss due to anomalies nearly doubled from 1.61% in 2019 to 3.13% in 2022. The revenue loss is estimated at roughly $82 million for the more than 24GW of solar assets analyzed by Raptor Maps in 2022.
The report can be downloaded here.
“Raptor Maps now has data on 80GW of PV systems from thousands of individual inspections in dozens of countries, and the numbers tell us that power loss from anomalies has nearly doubled in four years,” notes Eddie Obropta, CTO and co-founder of Raptor Maps. “The implications for the industry’s long-term bankability run deep at a time when legislation like the Inflation Reduction Act is supercharging growth in solar.”
Raptor Maps’ industry-leading dataset grows every year — it increased 21% from 2021 to 2022 — offering unique insights into the health of solar assets globally and providing benchmarking data for customers of its software platform, Raptor Solar. For the first time, the 2023 edition of the Global Solar Report includes benchmarks of power loss by site size, granular module-level anomalies insights by PV cell type, and a view of the shifting module OEM landscape.
“Raptor Maps provides customers with a digital twin that is a living record of a solar farm, monitoring power production—or power loss—as it occurs,” explains Obropta.
The report underscores the need for asset owners and managers to monitor equipment performance over time, proactively identifying maintenance issues and warranty claim opportunities.
“The advanced analytics in our Raptor Solar platform uses measurements like those highlighted in this report to provide a system of record that solar stakeholders can use to help installations flourish for decades,” says Raptor Maps CEO and cofounder Nikhil Vadhavkar. “Digital workflows can drive massive productivity gains by ensuring plants are operating at peak efficiency, as we have seen with our Raptor Solar Warranty Claims product, where initial data suggests a reduction in manufacturer review time by up to 90%.”