Power Factors, an industry-leading software provider for monitoring, managing, and optimizing renewable energy assets, announced Thursday that it was selected as the recipient of an award by the U.S. Department of Energy (DOE) SunShot Initiative.
Power Factors Awarded $550,000 Grant from US Department of Energy SunShot Initiative
$46.2 million in research grants were awarded to boost solar power technologies
LARKSPUR, CA, JULY 13, 2017 - Power Factors, an industry-leading software provider for monitoring, managing, and optimizing renewable energy assets, announced Thursday that it was selected as the recipient of an award by the U.S. Department of Energy (DOE) SunShot Initiative. Power Factors will leverage these funds to accelerate its research and development in producing actionable insights through the characterization of PV power plant performance deviations from predictive model production.
"PV data analysis has advanced rapidly, but the ability to effectively characterize differences between production estimates and actual performance has remained elusive. With this funding we expect to provide a powerful new tool for developers, owners, operators, and O&M providers," said Steve Voss, Power Factors' Principal Data Scientist.
Power Factors will incorporate this advanced functionality into its existing SaaS-based IoT platform that currently supports over 7,500 MW of PV capacity. The actionable insights our clients will derive from this initiative will complement our existing performance monitoring, reporting, work management, and advanced analytics toolset. Power Factors is well-positioned to deliver due to its existing 250+ years of subject matter expertise and its proven track record of handling big data and data quality issues generated by solar PV systems.
"We are honored to be selected by the DOE for this award," said Power Factors EVP Steve Scales. "This grant will accelerate Power Factors' ability to drive solar photovoltaic systems' energy yields, reliability, and bankability. The DOE's continued focus on strengthening and assuring our nation's supply of clean electricity is vital," added Scales.
About Power Factors
Power Factors delivers a bankable, scalable data platform for clean energy, providing infrastructure and services to optimize the physical and financial performance of clean energy assets. The company's proprietary platform is built upon pillars of the electric power industry, time-tested over decades to ensure reliability and scalability. Its energy and data experts work with the largest and most successful clean energy companies in the world to help them get the most out of their investments. Learn more at pfdrive.com.
About the SunShot Initiative
The U.S. Department of Energy SunShot Initiative is a national effort to drive down the cost of solar electricity and support solar adoption. SunShot aims to make solar energy a low cost electricity source for all Americans through research and development efforts in collaboration with public and private partners. Learn more at energy.gov/sunshot.
Contact: Susan DeVico SusanDV@aol.com