Raptor Maps’ Global Solar Report Finds $4.6B Annual Revenue Loss

Raptor Maps has released the sixth edition of its Global Solar Report, featuring data this year that it says demonstrates the underperformance of solar assets. 

Drawing on data from a total 125 GW of PV systems, the report finds that global revenue loss due to equipment-driven underperformance last year reached $4.6 billion, and that power loss due to equipment anomalies on solar farms rose from 3.13% to 4.47% year-over-year. 

“The world surpassed the 1 terawatt (TW) mark for global solar installations two years ago, and our sights are firmly set on the 10 TW milestone,” says Raptor Maps CEO and co-founder Nikhil Vadhavkar. “Our sector is foundational to meeting our climate goals of 1.5 degrees Celsius. Aenges outlined in our Global Solar Report to restore production, optimize asset management, and ensure the investability of the sector for years to come.” 

“Owners and operators who are already working with digital twins of their sites can now leverage robotics and AI to tackle labor challenges directly impacting power production,” adds Eddie Obropta, CTO and co-founder of Raptor Maps. “We just launched a new AI tool, Instant Inspections, based on customer demand, which enables the detection and categorization of thermal anomalies 99% faster than conventional solar aerial inspections at C&I sites.”