Innovative SolarFarmer Software Promises Enhanced Accuracy and Scalability for Solar Projects

Innovative SolarFarmer Software Promises Enhanced Accuracy and Scalability for Solar Projects

(IN BRIEF) DNV has introduced SolarFarmer, a cutting-edge software designed to revolutionize solar project evaluations in the U.S. By completing six major due diligence projects totaling 1,195 MW, SolarFarmer has proven its ability to handle the expected surge in solar installations. The tool provides precise data, scalable performance, and efficient project design, crucial for developers and financiers. With a validated accuracy of 0.4% in generation projections and a 30% reduction in data spread, SolarFarmer is set to become essential for managing complex solar projects and reducing costs.

(PRESS RELEASE) BÆRUM, 7-Sep-2024 — /EuropaWire/ — In a significant development for the solar energy sector, DNV has announced the successful deployment of its SolarFarmer software for six major solar project financing due diligence projects in the United States, totaling 1,195 MW. This marks the inaugural use of SolarFarmer in the U.S., highlighting its potential to reshape solar project evaluations.

SolarFarmer stands out as the only solution capable of keeping pace with the anticipated explosive growth in solar installations projected to increase twenty-fold by 2050, according to DNV’s 2023 Energy Transition Outlook. Unlike other products, SolarFarmer offers unmatched scalability, making it a vital tool for managing high volumes of data and providing accurate assessments essential for both developers and financiers.

Richard S. Barnes, Region President for Energy Systems North America at DNV, emphasized the tool’s importance: “SolarFarmer is a game-changer for the solar industry. The accelerated deployment of solar projects in the U.S., driven by initiatives such as the Inflation Reduction Act, necessitates a tool that ensures both speed and precision. SolarFarmer is uniquely equipped to handle all stages of project development, minimizing risks and surprises.”

The SolarFarmer platform features a robust and scalable API that facilitates energy yield evaluations, site selection, and solar PV project design with high accuracy. It helps solar developers make informed decisions quickly and reduces the levelized cost of electricity (LCOE) through precise and reliable data. The tool is a key part of DNV’s broader digitalization strategy, which also includes Solar Resource Compass and Solcast.

With SolarFarmer, DNV can now address complex project terrains and manage the growing scale of solar installations more effectively than existing products. The tool’s performance has been validated with a mere 0.4% discrepancy between its projections and actual generation data, and a 30% reduction in data spread compared to previous methods.

DNV’s extensive experience, including facilitating over $10 billion in transactions and supporting over 800 GW of energy projects in North America last year, underscores the critical role SolarFarmer will play in the future of solar project financing.

For more information about SolarFarmer and its impact on solar project financing, visit DNV’s website or contact the press office.

About DNV
DNV is an independent assurance and risk management provider, operating in more than 100 countries. Through its broad experience and deep expertise DNV advances safety and sustainable performance, sets industry standards, and inspires and invents solutions.

Whether assessing a new ship design, qualifying technology for a floating wind farm, analyzing sensor data from a gas pipeline or certifying a food company’s supply chain, DNV enables its customers and their stakeholders to manage technological and regulatory complexity with confidence.

Driven by its purpose, to safeguard life, property, and the environment, DNV helps its customers seize opportunities and tackle the risks arising from global transformations. DNV is a trusted voice for many of the world’s most successful and forward-thinking companies.

In the energy industry
DNV provides assurance to the entire energy value chain through its advisory, monitoring, verification, and certification services.  As the world’s leading resource of independent energy experts and technical advisors, the assurance provider helps industries and governments to navigate the many complex, interrelated transitions taking place globally and regionally, in the energy industry. DNV is committed to realizing the goals of the Paris Agreement, and supports customers to transition faster to a deeply decarbonized energy system.

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SOURCE: DNV