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Improving Operational Efficiency of Solar Assets Key to Future Revenue Growth
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This research presents an in-depth analysis of the US PV Asset Management Systems Market. The high growth rates in PV installations since 2014 are now translating into a larger installed base that has to be managed. US solar capacity in 2017 stood at 46GW – by 2024 it will have more than doubled to reach 97.88GW. Declining costs are making projects increasingly attractive compared to conventional generation sources. Added to this are renewable portfolio standard targets in various states that mandate investment in renewable sources. Key states for market growth include: California, Arizona, North Carolina, New Mexico, Florida, Georgia, Texas, Colorado, and New York. California is by far the stand out market of all. Four of the largest investors that own utilities in the US are from California – Pacific Gas and Electric, Southern California Edison, San Diego Gas & Electric, and Los Angeles Department of Water and Power. These combined have over 15GW of installed capacity. Key drivers for growth in the market, besides increased capacity, will be a desire to reduce O&M costs, limiting downtime of solar assets, valuation of solar assets, and the need for managed documentation and reporting. Restraining factors will be high import tariffs on panels and the disconnect between O&M and asset management activities.Why Partner with Frost & Sullivan? • Frost & Sullivan has a robust and proven research methodology that delivers high-quality findings. It has established relationships with leading participants in the renewable energy market value chain, which has helped it conduct primary research for the purpose of its research services. • Frost & Sullivan’s subject matter expertise spans 35 years of researching and tracking energy and environment markets, and generating reliable information. • The team of industry experts with multi-disciplinary backgrounds in engineering, business studies, and market strategy combine their expertise to recommend effective strategies. • The fact-driven, client-specific approach bridges the gap between market research and mainstream consulting to help companies realize their vision.
Key Issues Addressed
Author: Farah Saeed
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