SolarFarmer helps to provide customers with speed and precision for fast-paced development of solar energy. It offers a scalable solution that addresses the need for a reliable platform that can manage increased throughput while delivering precise data, particularly for developers and financiers.
Solar project installations are anticipated to grow 22-fold by 2050, as projected in DNV’s 2023 Energy Transition Outlook.
“SolarFarmer is a crucial accelerant for the solar industry” said Richard S. Barnes, region president for Energy Systems North America at DNV. “The rapid scaling of solar in the US, spurred in part by the Inflation Reduction Act (IRA), means that lenders and project developers need to act with speed and accuracy to move projects forward. SolarFarmer is the only tool that can be utilised in all project development stages, reducing surprises and decreasing risk.”
The platform has a highly scalable Application Programme Interface (API) that evaluates energy yields and enables users to quickly and accurately select project sites and design solar PV projects. It is designed to produce robust and finance-ready results that enable solar developers to make faster decisions and decrease overall levelised cost of electricity (LCOE) for their projects.
DNV’s overall digitalisation strategy aims to rapidly equip financiers and renewable project developers with the most accurate information when designing, financing, and operating their projects.
As the pace of solar project installation growth increases, projects will inevitably be developed on sites with greater terrain complexity. SolarFarmer can account for these terrain complexities and provide fast and accurate analysis for financial transactions.
DNV’s recent validation showed only a 0.4 percent discrepancy between SolarFarmer’s projections and actual generation. This has led DNV to adopt SolarFarmer for all future solar financing due diligence engagements, meaning that the platform is set to play a critical role in delivering faster, more accurate analyses for the next generation of solar financing projects.
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